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TOKYO'S FINANCIAL HUB PUSH

Tokyo courts foreign asset managers to unlock 1,830 trillion yen trove

Japanese households are now more open to investments, and Tokyo wants to ease the entry of foreign asset managers into the city to accelerate this shift

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Tokyo governor Yuriko Koike believes that with stronger fundamentals, the city can now aim for more sustainable growth.

Tokyo

HOUSEHOLDS in Japan have accumulated a whopping 1,830 trillion yen (S$22.6 trillion) in assets as at end-2018, of which 984 trillion yen, or over half, is held as bank deposits and cash.

But faced with an ageing society and negative rates, traditionally risk-averse Japanese...

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