On September 21, 2023, the Prime Minister of Japan Kishida
unveiled his new policy initiatives to support new entry of
managers to Japan. In his speech at the Economic Club of New York,
the Prime Minister announced his plan to (i) establish programs to
support emerging managers, (ii) seek for legislative and regulatory
changes necessary to allow outsourcing of back-office operations,
and (iii) launch special business zones targeted for overseas asset
managers in which all the regulatory processes are conducted in
English and other business and living supports are provided.
In recent years, the Japanese government has implemented various
policy initiatives as part of its International Financial Center
policy, expanded English registration availability and launched a
subsidy program to support the initial costs. The new policy
initiatives are intended to support the growth of the Japanese
asset management industry, which, according to the Prime Minister,
had already
