The headlines on this were earlier in the week:

These were a heads up to a speech the Prime Minister was to give in New York. Which he has now done. Our patience paid off any now we have more details (Reuters here for much more):

  • Japanese Prime Minister Fumio Kishida aims to spur competition in the country's $5 trillion asset management industry by prompting new market entrants to turn dormant household savings into investments, he told investors in New York.
  • The Japanese government is reviving its decades-old policy pledge to move 2,000 trillion yen ($13.48 trillion) of household financial assets into investment, as half of such assets are sitting in cash or bank deposits.
  • "We will push hard to encourage sophisticated asset management and to solicit new entrants," Kishida said in a speech at the Economic Club of New York that was also broadcast online.
Japan yen notes