Japan in the Capital Markets September 2019

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  • BoJ’s Kuroda will be called to open box of tricks once more

    An increase in the consumption tax rate will hit Japan’s economy, analysts warn. Alongside a strong yen and global growth fears, this is likely to push the Bank of Japan into further easing measures. With banks creaking under the strain of low rates, Japan’s central bank, under governor Haruhiko Kuroda, will have to concoct a delicate mix of stimuli. Reported by Jasper Cox, ahead of the Bank of Japan’s September meeting

  • Samurai no longer the only choice for international issuers

    An explosion of international issuance in yen is being accompanied by a re-evaluation of traditional routes of access into Japanese capital markets. Euroyen deals and Tokyo Pro-Bonds are rapidly establishing themselves as viable alternatives to the Samurai bond market. Tyler Davies reports.

  • Banks face up to new TLAC investment rules in Japan

    A surge in international bank issuance has carried on almost uninterrupted in the yen market this year, even after the Japanese Financial Services Agency raised the bar on investments in total loss-absorbing capital (TLAC).

  • Japanese business looks outward, funding follows suit

    Japan’s mature, growth-starved economy has little slack for its banks and corporations to enjoy. Expansion seems possible only through the pursuit of opportunities abroad, and as a result, Japanese borrowers are turning to the international market in unprecedented numbers. The global economy, which has its own problems of slowing growth, brings new challenges and opportunities. Lewis McLellan reports

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