Programme
Thursday, March 11, 2010
9:30 Arrival, Registration and Coffee
Conference MC: Yuri Aisaka
10:00 Opening remarks
- Toshio Ando, Chairman, Japan Securities Dealers Association
- Kishore Mahbubani, Dean and Professor
- Lee Kuan Yew School of Public Policy, National University of Singapore
10:15 Keynote Speech
Current Status and Prospect of Japanese Economy, Growth Strategy of Japanese Enterprises
Masahiro Sakane, Chairman & Representative Director of the Board, Komatsu Ltd.
The manufacturing industry that has been the most powerful driving force of the Japanese economy during several decades after the World War II became the most affected by the recent worldwide recession, which was triggered by the “once a hundred years’” global financial crisis. In such a previously unknown situation and in the context of the increasing demands for environmental consideration, what are their strategies for cutting their way through the predicament and finding a new business dimension? Mr. Masahiro Sakane, a highly prominent leader of Japanese manufacturing industry, delivers his views on the current Japanese economy, growth strategy of the industry and its expected future roles in the world, particularly in Asia.
10:45 Keynote Presentation
Regulatory Reform and Revitalization Measures in Japanese Financial Market
Tatsuo Yamasaki, Deputy Commissioner for International Affairs, Financial Services Agency, Japan
What is the Japanese government regulator’s vision for the future Japanese financial market? What kind of measures have been taken and are under consideration to further activate the market ensuring investor protection and market integrity? A presenter from Japanese FSA provides a rundown on the recent regulatory development in Japan, focusing on the measures under deliberations in the aftermath of the global financial crisis.
11:15 Panel 1:
Future Prospect for the Market Infrastructures and Strategies of Exchanges
What are the major changes brought to market operators in Japan and Singapore? The Tokyo Stock Exchange (TSE) and Singapore Exchange (SGX) as regulated market operators offer their respective unique advantages. TSE, one of the world’s largest exchanges, reinforced recently its capacity as provider of the securities market infrastructure by upgrading order execution speed by introducing a nextgeneration trading system “Arrowhead” and opening a new market for growing companies “TOKYO AIM”. SGX is the operator and frontline regulator of the cash and derivatives market place in Singapore. On the other hand, Chi-X, as outstanding off-exchange market innovator, is now preparing for offering an alternative trading opportunity in Japan. In this session, top management of those operators will brief participants on the distinctive operations of each market as well as their future strategies.
Moderator
Sadakazu Osaki, Head of Research, Center for Knowledge Exchange & Creation,
Nomura Research Institute
Panelists
- Atsushi Saito, President & CEO, Tokyo Stock Exchange Group
- Seck Wai Kwong, CFO and Senior Executive Vice President, Singapore Exchange
- Ronald Gould, Chief Executive Officer, Chi-X Asia-Pacific
12:30 Lunch
13:30 Panel 2:
Overview of Japanese Economy and Financial / Capital Markets
The Japanese stock market recently has been showing steady improvement after having hit bottom in March 2009 because of the global financial turmoil. Still, the Japanese economy remains under deflationary pressure with the fluctuation of the Japanese yen weighing heavily on the future economic outlook. This panel is intended to reveal the up-to-date situation in Japan’s economy as well as in its stock, money and foreign exchange markets. How will Japan overcome the current deflationary situation? What will be the impact of the strong yen? This roundtable of economists will discuss these and other key topics that will be of great interest to investors.
Moderator
Shinichi Yoshikuni, Senior Advisor, Mizuho Securities
Panelists
- Seiichiro Iwasawa, Chief Strategist, Financial & Economic Research Center, Nomura Securities
- Nobuyuki Saji, Chief Economist, Japan Equity Strategist, Mitsubishi UFJ Securities
- Robert Alan Feldman, Morgan Stanley
15:10 Panel 3:
Investment in Japan (1) Equity Market
Is Japan an attractive investment choice under the current recessionary economic environment? Japanese industries have been producing many high quality products at competitive prices for world markets. A number of leading enterprises are expanding their businesses in Asia, one of the fastest growing areas in the world, based on their unique technologies, production know-how and marketing expertise. In this panel, analysts who are active on the front line of securities markets discuss the opportunities and risks of investment in Japanese enterprises and their strategies for investing in Japan. A view from Singapore will also be presented.
Moderator
Yasuo Kuramoto, Director & Vice Chairman, FIL Japan Holdings
Panelists
- Hiroyasu Sato, Daiwa Securities Capital Markets
- Fumikazu Onishi, Strategist Economist, General Manager, Global Investment Strategy Division, Nikko Cordial Securities
- Bill Wilder, President & CIO, Nikko Asset Management
- Jeffrey Lee, Managing Director & Chief Investment Officer, Phillip Capital Management
16:30 Panel 4:
Investment in Japan (2) Real Estate and REIT Market
A wide range of investment tools such as J-REIT, Private Real Estate Funds, and CMBS were created as new funding channels to attract money from a broad investor base into the market. As evidenced in the recent J-REIT market, prices plummeted sharply after having hit a peak in May 2007 due largely (but not limited) to the global financial crisis. However, with the recovery of global outputs, the market is again providing alternative investment opportunities for the investors. Market experts from both real estate developers and J-REIT market players will put forth their views on the general prospect and attractiveness of the market and why the market may provide a value-style investment opportunity for foreign investors.
Moderator
Yuichiro Kawaguchi, Professor, Graduate School of Finance, Accounting & Law, Waseda University
Panelists
- Toshihiko Okino, Senior Analyst, Managing Director, Equity Research Department, UBS Securities
- Fuminori Imanishi, Head of Retail Division, Mitsubishi Corp. - UBS Realty
- Fumio Inada, General Manager, Investment Management Division, Tokyo Tatemono Co., Ltd.
- John Stinson, Director, Asia Pacific Investment Business Group Leader, DTZ
18:00 Close of the Conference
Delegates are requested to make their way to the pre-function area for the opening of the evening cocktail reception.
18:00 Evening Reception
The evening reception will take place at the pre-function area. Entry is reserved exclusively for registered participants.