ALTERNATIVE CREDIT INVESTMENTS ROUNDTABLE - Sizing up securitisations in Japan

The country's alternative credit markets are growing fast. Regular securitisation topped ¥11.2 trillion in 2006, and should continue rising. The appeal of whole business securitisations is exciting banks, while the rise of leveraged buyouts could lead to collateralised debt obligations. But the troubles of Japan's consumer finance industry and a tight credit market make for potential challenges. Asiamoney spoke to some senior arrangers and advisers to the industry to ascertain the prospects.