Tokyo Family Office Guide
There are many wealthy individuals and families residing in Japan, especially Tokyo, making it a relatively untapped family office destination that could increase rapidly in terms of the number of family offices over the coming years. Japan has a great deal of wealth and is warming up to the idea of family offices. Although it has been a slow transition from private banking to more traditional family offices, the idea appears to be taking hold among the wealth in Japan.
The following free guide to Tokyo Family Offices will help you better understand Tokyo family offices and provide you with resources to learn more about Japan. You should also check out our 100% free book on family offices.
Introduction to Tokyo
Japan is familiar to many business professionals and investors because it has been closely linked with the American and other Western economies for many years. Japan’s biggest city, Tokyo, has long operated as an Asian financial capital and an international trading center. Many businesses and investment firms have set up their Asian headquarters in Tokyo and so it is very business-friendly. Japan has a population of more than 127 million people on a relatively small island nation. The economy has grown rapidly since the 1960s, and it has been especially helped along by the booming technology sector and the growing financial industry. The biggest question mark today is how the nation–and the economy–will recover from the truly devestating earthquake that caused untold damage.
Here is a video that I recorded in Tokyo, Japan. I talk about why Japan has been so slow to adopt family offices and how other Asian financial capitals are filling this void.
Japan is a very Western-friendly, pro-business country that makes it easier for family offices to operate. Japan has long-embraced investing and the financial industry, especially in Tokyo, an international business center. So, many talented managers will feel comfortable opening up family offices and may already have established relationships in the country. There is also a tremendous amount of wealth in Japan, making it an attractive destination for family offices.
Family Offices in Tokyo
Tokyo is a prime target for family offices because there is so much wealth concentrated in the city. More generally, Japan’s booming economy over the last many years and the big growth in business has made for many high-net worth individuals and families. Additionally, much of the Japanese population is retiring which brings a lot of retirement wealth. Family offices can help serve the needs of these wealthy families by providing services and support.
Japan is a good location for family offices; however, Japan has not taken to family offices as quickly as one might assume or as quickly as, say, Singapore and Hong Kong have. While traditional family offices have not been historically popular in Japan, private banking has a long history in the country and many of these institutions operate in a similar capacity as a family office. One of the reasons that the Japanese have been slow to adopt the family office model is simply that it is new to the country and it could take a while for the family office to gain prominence among the wealthy in Japan. In recent years, though, wealthy Japaneses individuals and families have become increasingly more interested in family offices and more family offices have opened up in Japan.
In some ways, Japan is actually at an ideal point for family offices. As one family office describes, “In 2007, the Japanese baby boom generation started to retire in large numbers, bringing with them large amounts of pension and retirement wealth. This is an opportunity for private banks and other wealth professionals in Japan, to smooth the financial future of many Japanese. For families with large amounts of wealth, this is an interesting time with many chances to improve multi-generational fortunes.”
Tokyo Family Office Resources Guide
Tokyo Family Office Resource #1: This article covers the SoftBank Group Corp plans to expand its investments in the biotech and healthcare sector, opening up the need for growth.
Tokyo Family Office Resource #2: This article has a few different articles talking about the growth in real estate and eyeing the investment market as it is set to boom with the sharp increase in data traffic due to the rapid digitalization of society as the city recovers from the pandemic.
Tokyo Family Office Resource #3: This website talks about Nomura Holdings seeking new growth from private equity, private debt and startups since the quarterly earnings took a battering from the pandemic.
Tokyo Family Office Resource #4: If you are looking for contact details of family offices places such as Tokyo you may want to consider using a Family Offices Database. A Family Office Database provides you with the complete contact details for 100’s or sometimes even up to 1,000 global single and multi-family offices within an easy to use Excel spreadsheet format. Learn more about this by clicking here.
Tokyo Family Office Resource #5: This article shares how BTIG continues their global expansion by opening up an affiliate office in Tokyo. BTIG plans on building a local team and strengthen the investment banking business.
Tokyo Family Office Resource #6: Japan adopts a green growth plan to be Carbon free by 2050 along with generating nearly $2 trillion growth in green business and investments.
Tokyo Family Office Resource #7: I came across this article stating that Nuveen Real Estate, which is one of the largest investment managers globally, has expanded their Tokyo multifamily partnership with the addition of 7 central Tokyo multifamily properties.
Tokyo Family Office Resource #8: Here is Tokyo’s financial and economic strengths. Tokyo serves as a hub for financial companies that possess advanced financial techniques.
Are you an employee or manager of a family office in Tokyo? Then we’d like to keep in touch with you. Simply send us an email at Richard@RichardWilsonCapital.
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