Japan is one of the largest financial services markets in the world. One bank, Japan Post Bank, is the world’s largest bank in deposit terms. Japan is also home to a colossal accumulation of personal wealth amounting to more than GBP 10 trillion and to some of the world's largest financial institutions e.g. Japan Post Bank (USD 2100 billion).
About 60% of household wealth is in the form of cash and deposits. Japan also has the world’s second largest insurance market after the US; the gross premium income of the industry is estimated at USD 655 billion.
The business services market is also strong and internationalised with about 350 foreign lawyers registered and most leading UK/international firms represented in Tokyo.
With the introduction of a substantial monetary easing policy from April 2013 under which the Central Bank will purchase government bonds held by Japanese financial institutions, there is demand for allocation of assets in different asset classes including foreign bonds, equities etc.
Areas of opportunity include, private sector financing of large scale infrastructure, and UK experience designing structures/ risk transfer and management.
In response to the expansion of outbound M&A activities by Japanese firms in recent years and a growing appetite in investing in overseas energy projects, there is a strong demand for international legal services.