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Expanded Companies

The following foreign companies have moved into the Japanese market in lieu of such changes in the savings, insurance and retirement segments:

Hartford Financial Services Group Inc. – Hartford, CT
•  Business:  Provider of investment and insurance products
•  2000 – Company's life-insurance arm entered Japan
•  2005 – Increased the value of its annuity accounts in Japan by $11.9 billion, which was higher than its $11.5 billion increase in the U.S.
•  Currently has 366,000 variable- and fixed-annuity accounts in Japan valued at $26 billion, nearly double the asset level of last year (AP)

Franklin Resources - San Mateo, CA
•  Business:  Asset management
•  Seeking an expanded presence in Japan
•  End of 2005 -- Held $4.5 billion in assets.  
•  Currently runs four Japanese funds, including its $3.2 billion Mayflower Fund, a yen-denominated portfolio of U.S. government securities.
•  "Japan's full-scale entry into the mutual fund business could be a driver of the mutual fund market expansion." -- Vijay Advani, executive vice president of global advisor services (Business Week)

Henderson Global Investors Inc. – London, UK
•  Business:  Investment management
•  January 2006 – Launched Henderson Japan-Asia Focus Fund that focuses on equity investments in Japanese and other Asian companies
•  "We are particularly excited about launching this Fund right now because we believe that the Japanese economy may be poised for a long-term expansion. The Henderson Group of companies has significant experience investing in Japanese and Asian markets, which should position us well to capitalize on the investment opportunities this economic expansion may provide."  -- Sean Dranfield, director of North American Retail Distribution (Henderson Global Investors press release)

Fidelity International – Bermuda
•  Business:  Investment management
•  Planning to double its Asian assets under management to nearly $100bn in the next five to 10 years, helped by an aggressive push into the Japanese retirement savings market
•  "The 800-pound gorilla is Japan, which is probably the world's biggest pool of long-term savings that need to find a home." -- Brett Goodin, president of Fidelity's Asian operation (Financial Times)

Movements in Japan's financial sector resulting from a rise in investor confidence in riskier investment vehicles, a strengthening economy, and continuing deregulation has ushered in a string of foreign companies eager to service growing demand for new services and take advantage of access to markets previously given only to domestic companies.  These shifts and their reverberations present significant areas of potential to foreign companies looking to service the Japanese market.