On September 23rd, panel discussion hosted by Bloomberg was held on the future of investing in Japan brought together key financial leaders, with outgoing Prime Minister Fumio Kishida in attendance.
Featured panelists included Joe Bae from KKR, Jon Gray from Blackstone, Yie-Hsin Hung from State Street Advisors, Robert Kapito from BlackRock, and Stefanie Drews from Nikko Asset Management.
The conversation, moderated in New York by Bloomberg’s Francine Lacqua, focused on Japan's economic landscape and investment opportunities.
Panelist Recommendations for the Japanese Economy
Joe Bae (KKR): Continuity and transparency of policies are essential.
More collaboration between the government and the private sector, especially in critical sectors like semiconductors, technology, and AI. Foster partnerships between global firms and Japanese insurance companies to unlock higher returns for Japanese savers.
Stefanie Drews (Nikko Asset Management): Continuation of current policies, particularly on transparency of reporting and corporate governance initiatives.
Encourage further emphasis on capital efficiency, which is becoming more central in corporate discussions.
Jon Gray (Blackstone): Continuation of reforms, especially in opening Japan’s capital markets and corporate governance. Highlighted the importance of enabling insurance companies to partner globally to secure better retirement outcomes for Japanese citizens.
Yie-Hsin Hung (State Street Advisors): Increase limits on contributions in defined contribution schemes to allow greater investment opportunities.
Continued focus on financial literacy and education to prepare the new generation of Japanese investors.
Robert Kapito (BlackRock): Support the introduction of more flexible tax-related rules to ease ETF investments in NISA programs. Ensure legal obligations for all investment chain players to act in their clients' best interests, vital for long-term savings growth.
Expressions of Gratitude to Prime Minister Kishida
Joe Bae (KKR): Gratitude for creating an environment of partnership and collaboration, which has been pivotal in KKR’s increased investments in Japan.
Stefanie Drews (Nikko Asset Management): Appreciates the recent reforms under Prime Minister Kishida's leadership, building on Japan's long-term progress, and hopes for continued momentum in policy development.
Jon Gray (Blackstone): Thanked the Prime Minister for taking political risks to open the market, resulting in significant long-term benefits for Japanese citizens.
Yie-Hsin Hung (State Street Advisors): Expressed appreciation for the Prime Minister’s efforts to enhance financial literacy and create opportunities for individual investors to meet their financial goals.
Robert Kapito (BlackRock): Grateful for the focus on public-private partnerships, recognizing the potential for collaboration to drive significant outcomes for Japan's economy.
Prime Minister Kishida’s Prepared Remark Highlights After Panel Discussion
For more insight into who might succeed Prime Minister Kishida, see below from TLDR News Global on who the next contenders are.
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