News Release
ICI Applauds Japan’s Continued Efforts to Strengthen Asset Management and Empower Investors
Washington, DC; April 28, 2025—Today, Investment Company Institute (ICI) President and CEO Eric J. Pan issued the following statement in response to the Liberal Democratic Party’s Asset Management Diet Members Group (the Diet group)'s proposal on a “Policy Plan 2.0 for Promoting Japan as a Leading Asset Management Center”:
“ICI welcomes the continued leadership of Prime Minister Shigeru Ishiba, Honorable Fumio Kishida, and the Diet group members, and thanks them for their continued dedication to strengthening the asset management industry in Japan and increasing opportunities for Japanese households to invest for a secure financial future.
“I was honored to address the Diet group this past March, and I am pleased that many of the Diet group proposals reflect recommendations submitted by ICI. We are encouraged that this important policy package is being considered for integration into Japan’s Basic Policy on Economic and Fiscal Management and Reform for 2025.
“We fully support the Diet group’s emphasis on further enhancing Japan’s defined contribution pension system. Key reforms including raising contribution limits, introducing “catch-up” contributions, reducing administrative hurdles, and promoting diversified, long-term investment vehicles as the default investment options are critical steps toward enabling broader household participation. Equally important are transparency and investor education which empower individuals to make confident, informed investment decisions--an area where Japan has also demonstrated strong initiatives.
“ICI looks forward to continuing its engagement with Japanese policymakers and stakeholders on these critical issues, including during the upcoming Japan Weeks in October 2025, as Japan advances its important efforts to help households transition from saving to investing and strengthen long-term financial security.”
Background: The Japanese government included the “Policy Plan for Promoting Japan as a Leading Asset Management Center" in their “Basic Policy on Economic and Fiscal Management Reform 2024.” The stated goal of the policy plan was to “create an investment chain that brings household savings to investment, improved corporate value to be redistributed to households, which would create more investments and consumption.” The Japanese government continues to work on enhancing the asset management industry in Japan, and the Diet group’s latest package of policy recommendations on asset management will be considered for inclusion in the Basic Policy on Economic and Fiscal Management Reform 2025 in June.