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December 14, 2023

Updated: June 4, 2024

Financial Services Agency

Policy Plan for Promoting Japan as a Leading Asset Management Center

1. Overview

 The Government of Japan has published "Policy Plan for Promoting Japan as a Leading Asset Management Center", with the aim to reform Japan’s asset management sector and asset ownership.

 Under Prime Minister Kishida’s initiative toward a “new form of capitalism”, the government has been taking various measures to achieve a “virtuous cycle of growth and distribution” in which Japan's household savings flow more into productive investment, and the benefits of increased corporate value are returned to households, leading to further private sector investment and consumption.

 To this end, the government has been reaching out to various entities in the investment chain to encourage the move, including through:
  • Doubling Asset-based Income Plan, with the aim to support steady asset building by households, including drastic expansion and permanent establishment of NISA, tax exemption scheme for retail investors; and
  • Corporate governance reforms, with the aim to promote sustainable corporate growth and increased corporate value over the medium- to long term.

 "Policy Plan for Promoting Japan as a Leading Asset Management Center" is the remaining piece for the growth of Japan’s economy and Japanese people’s asset income. The Plan centers on: (i) reforming Japan’s asset management sector; (ii) reforming asset ownership in Japan; (iii) promoting financing for growth and diversifying investment opportunities; (iv) effective implementation of stewardship activities; and (v) strengthening public relations and communications.


2. New Initiatives

3. Ongoing Initiatives


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