chapter  2
Ambition and withdrawal—Japanese experience in the City
Pages 30

Now, in the late 1990s, the Japanese economy is suffering serious recession, and the huge bad debts of Japanese banks are one of the causes of that recession. The activities in the late 1980s which eventually caused the business failure of Japanese banks were seen as the sunrise of the power of the ‘yen’ in the international financial market. However, passionate participation in international finance has resulted in serious business losses for Japanese banks. In the City of London-the most vigorous place for international finance businesses-Japanese bankers and financiers took part in investments and speculations in the late 1980s. How did Japanese bankers and financiers talk about their experience of joining the international business in the City of London? Have they expressed their feelings about the business?