capital markets
The Sapporo Securities Exchange (SSE) has officially released the regulatory framework for its upcoming professional-investor-focused equity market, tentatively titled the Sapporo PRO Frontier Market (SPFM). In a public consultation document, the exchange outlined a flexible listing structure designed to compete with the Tokyo Pro Market by lowering barriers
impact
A fundamental re-evaluation of corporate value is underway, compelling leaders to measure what was once considered immeasurable. At the forefront of this shift is impact accounting, a discipline defined by the International Foundation for Valuing Impacts (IFVI) and the Value Balancing Alliance (VBA) as the practice of measuring an
carbon credit
The Tokyo Stock Exchange (TSE) will introduce a new clearing and settlement service designed specifically for over-the-counter (OTC) carbon credit transactions. The initiative aims to reduce the administrative burden of bilateral trading and support Japan’s Green Transformation (GX) strategy by enhancing market convenience. The service, titled the
digital asset treasury
Metaplanet (TSE: 3350) has formally established a Sponsored Level I American Depositary Receipt (ADR) program, a strategic move aimed at streamlining access for U.S. investors and bolstering liquidity in North American markets. Effective December 19, 2025, the program has appointed Deutsche Bank Trust Company Americas as the depositary bank.
tokenized deposits
A consortium of six major Japanese financial and technology firms—including SBI Securities, Daiwa Securities, and SBI Shinsei Bank—have announced the launch of a collaborative project to verify real-world settlement of security tokens (ST) using tokenized deposits. The initiative aims to implement a Delivery Versus Payment (DVP) settlement
stablecoin
SBI VC Trade and Aplus, both subsidiaries of the financial conglomerate SBI Group, will partner to launch a proof-of-concept (PoC) for in-store payments using the U.S. dollar-pegged stablecoin, USD Coin (USDC). The pilot program, scheduled to commence in the spring of 2026, aims to establish
industry association
The General Incorporated Association Japan Digital Decentralized Finance Association (JDFA) has been established on December 1, 2025, led by KPMG Japan, which has run study groups on cryptocurrency ETFs. It was created to guide the growth of new financial technologies in Japan by bringing together experts from across the industry.
payment
Digital Garage has made a significant update to "App Pay," its third-party payment platform for mobile applications. The new user interface features a "Link-Out" capability designed to align directly with Japan's "Act on Promotion of Competition for Certain Smartphone Software"
mergers & acquisitions
Amova Asset Management has announced a definitive agreement to acquire the remaining equity interest in AHAM Asset Management, moving to take full control of one of Malaysia’s leading fund management houses. In a strategic push to solidify its footprint in Southeast Asia, the Japan-headquartered firm will increase its
private credit
Sumitomo Mitsui Financial Group (SMBC Group) has unveiled an aggressive strategy to establish private asset management as a primary business pillar, targeting JPY 15 trillion in cross-asset management balances by 2031. In an announcement made on December 24, 2025, the Japanese banking giant outlined a comprehensive plan to leverage
payments
Nudge has announced the formation of the "Entertainment × Fintech Consortium," a strategic alliance designed to facilitate co-creation between the entertainment sector and domestic financial institutions. The initiative marks Japan’s first industry-spanning ecosystem aimed at integrating financial services with the entertainment business model. Strategic Overview Nudge
artificial intelligence
au Jibun Bank has moved to bolster its internet banking security infrastructure, announcing the deployment of "AI Zero Fraud," a proprietary detection system developed by cybersecurity firm LAC. The integration, which went live during December 2025, represents a strategic shift toward artificial intelligence to mitigate the rising risk