London Tokyo Finance Seminar
Tokyo Metropolitan Government (TMG), in collaboration with the national government and private sector stakeholders, is actively promoting initiatives to revitalise the financial sector and reclaim Tokyo’s position as a leading global financial hub. As part of these endeavours, the TMG has forged a partnership with the City of London Corporation. Back in December 2017, the Tokyo Metropolitan Government and the City of London Corporation inked an Agreement on Exchange and Cooperation, delineating mutual collaboration on various fronts including financial sector events, financial education programs, ESG investment, and green finance. This agreement underscores the collaboration between the City of London which serves as the epicentre of London’s financial activities and TMG.
Building upon this agreement, the Tokyo Metropolitan Government and City of London Corporation jointly organised the Tokyo-London Financial Seminar on 31 January 2024 in London. The primary objective was to encourage overseas asset managers to explore business opportunities in Tokyo.
The seminar commenced with an opening address by the host, the Lord Mayor of the City of London, followed by addresses from the Governor of Tokyo and the Japanese Ambassador to the UK. This was succeeded by a dialogue focusing on the Japanese Government’s initiatives towards establishing Japan as a hub for asset management. Responding to inquiries regarding barriers faced by UK-based asset management firms entering the Japanese market, Hideki Takada, Director of the Policy Division, Policy Bureau, Financial Services Agency, elucidated on the Government’s initiatives aimed at mitigating obstacles such as legal requirements and language barriers. He highlighted plans to introduce a registration system for new entrants to Japan in 2021 and the establishment of a support centre for opening offices to facilitate the process for overseas asset management companies.
During a panel discussion on the appeal of Tokyo and Japan from the perspective of UK asset management companies, financial professionals from the UK underscored the similarities between the UK and Japanese asset management, emphasising the reliability of the Japanese financial market.
The seminar provided insights into the Japanese Government’s aspirations to become a powerhouse in asset management and shed light on Tokyo’s market attractiveness. This was followed by a speech from the Director of the Tokyo Metropolitan Government’s Start-up and International Financial City Strategy Office, outlining Tokyo’s initiatives. The event concluded with closing remarks from a City of London Councillor Member.
Subsequently, a networking session was held, facilitating lively exchanges among participants, speakers, and relevant stakeholders.
The Tokyo Metropolitan Government remains committed to advancing various initiatives, including collaboration with the City of London Corporation, to realise the vision of an “International Financial City of Tokyo.”
[Photo Caption: Scene of the seminar *Photographed by the author] [Reference sites: Tokyo-London Financial Seminar 2024 | Exchange and cooperation with the City of London Corporation | International Financial City Tokyo | Strategic Office for Start-ups and International Financial Cities (tokyo.lg.jp) | Support Office for Establishing a New Office: Financial Services Agency (fsa.go.jp)]