Investment Banking in Japan : Retrospect and Prospects

The rise of Tokyo to the status of a global financial center has aroused considerable interest in the economic and financial institutions of Japan. Stimulated by the need for a better understanding, this study examines in detail the dominant investment banking institutions of Japan. It investigates into the regulatory framework of the investment banking industry and the operations of its participants. The study also reviews the latest efforts of the authorities in reuniting investment and commercial banking and makes policy recommendations for the future.