The economy undoubtedly influences the financial industry, and it can be said to be continually undergoing significant changes. The economic system reforms that took place from the late 1990s to the early 21st century completely transformed Japan’s financial industry. In recent years, various developments have occurred, such as the introduction and expansion of fintech (financial technology) which includes asset management through to virtual currencies and AI (artificial intelligence), and the introduction of financial services from other industries. Traditional business models in the banking industry need to be reviewed and revised accordingly to adapt to these changes.

On a separate note, from the point of view of other industries, the financial sector can be seen to be full of potential opportunities. There are cases where companies in different industry sectors with available foreign capital have introduced Japanese securities services and have been successful in this move. The belief is that moving forwards; there will be pressure on existing financial institutions to proactively enter overseas businesses and create innovative services that utilize new technologies.

Here at RSM Shiodome Partners, we are familiar with working in the financial services industry, and we are here to assist you in managing your business.

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