During the bubble economy of the 1980s, Japan was a behemoth of global finance, with Tokyo and its financial institutions vying neck and neck with New York City and London. But everything changed when the country’s asset price bubble burst in 1992, generating a loss of 100 trillion yen — approximately 20 percent of Japan’s total gross domestic product — over the course of a decade.
Despite successful restructuring efforts, Japan’s financial sector continues to be overshadowed by its counterparts in New York and London as well as its close neighbors in Singapore and Hong Kong. But the world is in constant flux and recent events such as Brexit and the Hong Kong protests signal opportunities for Japan to reclaim its former standing.
In order to realize these opportunities and promote investment in Japan, veterans of Japanese finance have come together to form The Organization of Global Financial City Tokyo, also known as FinCity.Tokyo. Established in April 2019, FinCity.Tokyo provides policy support to relevant institutions and industry groups. It also provides feedback and up-to-date information to investors and asset management companies in and outside Japan.