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Facing up to a wave of foreign competitors
 This week a small financial innovation will hit Japan's television screens. Tokyo Television will broadcast a series called Mani Enjiru - Money Angel - that has been sponsered by Goldman Sachs to explain the concept of US-style mutual funds in a "fun" way. Until recently such a step would have been almost unthinkable: foreign financial companies believed that Japan's retail market was almost impenetrable for foreign groups, and mutual funds were barely known since financial flows were dominated by banks, not capital markets. ...more
POLITICS:
Focus moves to unemployment
Last summer, fears that another financial crisis in Japan could trigger turmoil in international markets propelled the ruling Liberal Democratic party (LDP) into action ...more
BROKERS:
Opportunities to ease the pain
Japan's securities industry is in a state of rapid transition. In the 1998 fiscal year, ending in March 1999, the industry's top three brokers - Nomura, Daiwa, and Nikko ...more
BANKS:
Outside consultants welcomed
This summer McKinsey, the western management consulting group, is busy with a new type of job. As the banking restructuring gathers pace, McKinsey has been quietly advising ...more
CAPITAL MARKETS:
Steady progress with JGBs
Shintaro Ishihara, the new governor of Tokyo, bypassed traditional remedies when he promised during his election campaign in April to set up a junk bondmarket to revive ...more
REGULATION:
Fresh education heralds a shift
In recent weeks, Japan's Financial Supervisory Agency has been running a new type of training. Following the agency's decision to start inspecting western banks regularly, it is trying ...more
INTERNET BUSINESS:
'Big Three' brokers face online threat
Most Japanese had not heard of the internet until recently. This summer, however, "intaanetto" has become one of the hottest issues in the Japanese brokerage industry ...more
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