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Household Asset Diversification for Japan’s Economic Growth

Center on Japanese Economy and Business, Columbia Business School

Thursday, April 6, 2017 from 12:30 PM to 2:00 PM (EDT)

Household Asset Diversification for Japan’s Economic...

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General   more info Apr 5, 2017 Free  

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Household Asset Diversification for Japan’s Economic Growth

featuring

 

Tetsuya Kubo

Chairman of the Board
SMBC Nikko Securities Inc.

 

Moderated by:
Alicia Ogawa
Director, Project on Japanese Corporate Governance and Stewardship
Center on Japanese Economy and Business (CJEB), 
 Columbia Business School

Synopsis:
In Japan, most household financial assets are gathered in deposits and savings with low interests. As a result, the increase of household financial assets is smaller in comparison to other countries' and limits the risk money provisions for growing businesses. Considering Japan’s current economic challenges, it is necessary to properly distribute household financial assets and encourage individual household efforts of asset formation. The Abe Administration also promotes asset formation from deposits as one effort to overcome economic deflation. In turn, securities companies have a mission to stimulate households' asset formation and develop the capital market by introducing risk money for growing businesses to the market. Under these circumstances, SMBC Nikko Securities has been expanding its business steadily as a core securities company of SMFG, one of Japan’s three megabank groups.


Biography:
Tetsuya Kubo joined The Sumitomo Bank, Limited (a predecessor bank to Sumitomo Mitsui Banking Corporation) in 1976. In 1981, Mr. Kubo was seconded to the Economic Planning Agency of the Japanese Government. He also participated Harvard Law School’s International Tax Program in1984. 

In June 2002, he became General Manager of its Hong Kong Branch, overseeing the Bank’s operations in Hong Kong and other parts of Southeast Asia. In 2003, Mr. Kubo became the Director of the Bank. He was promoted to Managing Director in July 2006, and upon his appointment as the Head of the Americas Division, moved to New York for two years. 

In April 2008, he returned to Tokyo to assume the position of Head of the Investment Banking Unit. In April 2009, he became Senior Managing Director and a member of the Board while concurrently serving as Head of the Investment Banking Unit, and led the project of acquiring Nikko Cordial Securities Inc. (currently, SMBC Nikko Securities Inc.) In April 2011, he was promoted to Deputy President and CFO, a member of the Board of Directors as Representative Director, and assigned to take charge of Corporate Planning, Financial Accounting, Subsidiaries & Affiliates, and Public Relations. 

In April 2013, he was appointed President & CEO of SMBC Nikko Securities Inc. In April 2016, he was appointed Chairman of the Board of SMBC Nikko Securities Inc. In June 2016, he was also appointed Director of Sumitomo Mitsui Financial Group, Inc. Mr. Kubo holds a B.A. in law from Kyoto University.


Lunch will be served. Advance registration is required. *

General Contact: Emiko Mizumura, em2265@columbia.edu 
Media Contact: Ryoko Ogino, ro2213@columbia.edu 

Please kindly note the following:

• Registration will begin at 12:00 pm. Doors will open at 12:15 pm. All guests must be seated by 12:30 pm.  

• Please arrive early as seating will be filled on a first-come, first-served basis. The registration does not guarantee your admission. 

• Your presence at this event indicates your willingness to appear in any photos as produced by CJEB. If this is an issue, please let us know. Thank you.

Have questions about Household Asset Diversification for Japan’s Economic Growth? Contact Center on Japanese Economy and Business, Columbia Business School

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When & Where


Room 207, Warren Hall, Columbia Business School
1125 Amsterdam Avenue
New York, NY 10027

Thursday, April 6, 2017 from 12:30 PM to 2:00 PM (EDT)


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Organizer

Center on Japanese Economy and Business, Columbia Business School


Established at Columbia Business School in 1986 under the direction of Professor Hugh Patrick, the Center on Japanese Economy and Business (CJEB) promotes knowledge and understanding of Japanese business and economics in an international context. The Center is a research organization widely recognized for its international programs, which provide prominent speakers from the public and private sectors a forum for collaboration and reflection on Japan, the United States, and the global economy.

www.gsb.columbia.edu/cjeb

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Household Asset Diversification for Japan’s Economic Growth
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