Asia Program

Pacific Exchange Blog

Why Do Japanese Households Hold So Much Cash?

Posted March 18, 2019

Japanese households are well known for their preference for cash, which represents the majority of their financial assets. While Japan’s economic and financial history explain part of this behavior, broader structural and cultural factors are also at play.

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Pacific Exchanges Podcast

Fits and Starts For Japanese Corporate Governance Reform

Posted March 6, 2019

In this episode of our series Rethinking Asia, we spoke with Ken Hokugo, head of Corporate Governance and the director of Hedge Fund Investments at Japan’s Pension Fund Association, with more than $120 billion in assets under management. Ken is a strong advocate for Japanese corporate governance reform. Ken discussed the challenges Japan faces implementing corporate governance reform. Ken showed how cross-shareholdings and lack of independent directors are rooted in historic and structural factors and dampen enthusiasm for Japanese stocks.

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