Finding Key Investors to Take Over from Cross-Shareholders

Abstract:     
The global trend towards tighten regulation of financial institutions and the adoption of International Financial Reporting Standards (IFRS) may hasten the unwinding of cross-shareholdings in Japan, and there are signs that this is already happening. Finding buyers for such shares is therefore a matter of urgency, and an effort needs to be made to induce households, pension funds, investment trusts and overseas investors to take even larger shareholdings in Japanese companies than hitherto.

Number of Pages in PDF File: 16

Keywords: cross-shareholdings, regulation, IFRS, foreign investors, aging of society, stock market

JEL Classification: D10, E44, G11, G18, G21, G22, G23, G28, G32, G38, J11, J14, M40

Accepted Paper Series