Newsletter_FINCITY.TOKYO UPDATE (May 2026)
Updates from Tokyo’s expanding finance and startup ecosystem and the 54 members of FinCity.Tokyo.
Don’t miss! UK-Japan Transition Finance Forum, June 23 1pm
On June 23 1pm at Nomura International in London, join us for an inspiring deep dive into the latest on transition finance in Japan and the UK. Co-hosted by the GX Acceleration Agency of Japan with special support by Nomura and TheCityUK.
Register now! https://fincityinlondon.eventbrite.com(External link)
We look forward to seeing you there!
The event will cover:
- The Tokyo Metropolitan Government’s launch of the TOKYO Resilience Bond — the world’s first resilience bond certified under the expanded Climate Bonds Standard
- Insights from Japan’s Ministry of Economy, Trade and Industry and GX Acceleration Agency on Japan’s transition bonds and approach to blended finance
- The latest on the UK’s Transition Finance Guidelines
- Expert panels exploring how transition bonds can cut the carbon footprints of high-emitting sectors and unlock new opportunities for global investors
FinCity.Tokyo in the News
Japan: Passive Anchor Turned Capital Powerhouse (Global Finance Magazine, April 28)

FinCity.Tokyo’s Executive Director Tokio Morita interviewed by Global Finance Magazine about the return of Tokyo as a financial powerhouse on the back of successful reforms and easier market access for foreign financial firms.
Read the full interview here(External link)
Special Interview
Strengthening the bonds between Tokyo and Luxembourg

On April 27, during SusHi Tech Tokyo 2026, Tokyo and Luxembourg signed a Memorandum of Understanding to accelerate financial collaboration. We spoke to Tom Théobald, CEO of Luxembourg for Finance, about the importance of the MoU and the collaboration opportunities he sees ahead.
Read the full interview here
Other Updates
Tokyo and Luxembourg Sign Memorandum of Understanding on Financial Cooperation

On April 27 at SusHi Tech Tokyo 2026, Asia’s largest startup conference, FinCity.Tokyo’s Chairman Hiroshi Nakaso and the CEO of Luxembourg for Finance Tom Théobald signed an MoU to deepen cooperation between our two international financial centers.
The MoU creates a framework for collaboration in joint events, knowledge exchange, and more, coming just one year ahead of the 100th anniversary of diplomatic relations between Japan and Luxembourg.
Speaking at the event, Chaiman Nakaso and Mr. Théobald addressed the complementarity of the two financial centers, owing to Tokyo’s huge concentration of financial institutions, tech, VCs, and startups, and Luxembourg’s strength in cross-border fund distribution, sustainable investment, and beyond.
Please click here to view the press release.
High-impact Panel Discussions at SusHi Tech Tokyo 2026

Between April 27 and 28, FinCity.Tokyo arranged a series of events at SusHi Tech Tokyo 2026, enabling investors and startups from Tokyo and Asia to share their experiences and aspirations with a vast audience of business leaders and financial influencers.
- On the 27th, FinCity.Tokyo welcomed overseas family offices—key long-term investors managing high net-worth families/founders’ wealth—with Asian and US experience to share their investment strategies and expectations for Japanese startups, as well as methods to communicate with their portfolio companies.
- On April 28, we hosted a pitch event for overseas fintech firms seeking a presence in Tokyo, all of whom shared concrete initiatives and expectations for engaging with Japanese partners.
- On the same day, we also welcomed to the stage emerging managers—independent, next-generation asset managers and VC/PE firms—that had been featured in FinCity.Tokyo’s EM Showcase to hear their thoughts on what makes companies “investable,” how startups should foresee their growth, and effective investor communication.
Looking ahead to the Tokyo Sustainable Finance Forum (TSFF) 2026

On October 22, 2026, during Tokyo Sustainable Finance Week, FinCity.Tokyo will once again be arranging its flagship Tokyo Sustainable Finance Forum. The event, now in its 6th year, will bring together leaders from a broad range of domestic and international financial institutions to explore the latest trends in sustainable finance and spread awareness of the importance of ESG investment, sustainable urban development, and Tokyo’s unique strengths in promoting green finance.
Last year, FinCity.Tokyo’s Chairman Hiroshi Nakaso gave a lecture on the driving forces of sustainable finance in Tokyo, and how the city can contribute to the broader global climate of sustainable investment as a financial hub.
You can watch the lecture here (YouTube).
Key Stories in Media
News stories Domestic Media
- FSA reviewing Securities Report content by March 2028 (Nikkei, May 19)
https://www.nikkei.com/article/DGXZQOUB183FL0Y6A510C2000000/
The FSA has begun discussions on revisions of the required segments of companies’ securities reports in lieu of eliminating overlap with required stock exchange disclosures. - 2025 Nominal GDP a record JPY 670 trillion (Nikkei, May 18)
https://www.nikkei.com/article/DGXZQOUA156CO0V10C26A5000000/
Japan’s Cabinet Office announced preliminary nominal GDP for 2025, showing growth of 4.2% led by consumer spending. - “Crossover Investments” gain momentum as competition intensifies (Nikkin, May16)
https://www.nikkinonline.com/article/390402
Interest in “crossover investments,” whereby stocks are held over the medium to long term from unlisted stocks to post-IPO, is growing in Japan’s asset management industry.
News stories International Media
- Japan to support growth of dual-use tech startups with early payments (Nikkei Asia, May 19)
https://asia.nikkei.com/politics/defense/japan-to-support-growth-of-dual-use-tech-startups-with-early-payments
Startups focused on dual-use technologies related to artificial intelligence, drones and space will soon be able to receive expanded government support, including advance payments for government procurement. A draft policy package is now being finalized. - Japan’s Faster Economic Growth Offers Window for BOJ Rate Hike (Bloomberg, May 18)
https://www.bloomberg.com/news/articles/2026-05-18/japan-s-economy-grows-faster-than-expected-backing-boj-hike
Japan’s economy expanded 2.1% in the first quarter, surpassing forecasts of 1.7% and thus strengthening for further interest rate hikes by the Bank of Japan. The stronger figures were driven by stronger-than expected momentum for private consumption and trade. - Record high Japanese yields trigger bets on repatriation (Financial Times, May 17)
https://www.ft.com/content/6e363bc3-3114-4ddf-9f3b-67f031b3ef92?syn-25a6b1a6=1
The Bank of Japan’s increase in its policy interest rate to a three-decade high of 0.75 per cent in December have led investors to anticipate Japanese cash to flow out of US Treasuries and back into Japanese government bonds, with domestic yields reaching record highs. - Copyright © 2026 FinCity.Tokyo. Distributed for FinCity.Tokyo by Kreab K.K.