Hastings International and Comparative Law Review


Minoru Nagaoka


Recent economic growth has fostered a great amount of international trading on the Tokyo Stock exchange, the opening of the exchange to foreign brokers, and a greater diversity of traded products. Yet problems remain to be resolved for the future health of the Tokyo market. These include a recent decline in the Tokyo equity market, the handling of index arbitrage trading, a lack of operational capacity and liquidity, and the maintenance of fairness and transparency of the market. The Author addresses these concerns and discusses what programs may be implemented to increase investor confidence.