Securities Analysts Journal
The Securities Analysts Journal is the monthly journal of SAAJ for professionals in the field of finance and investment. The Editing Committee, consisting of practitioners and academics, selects special topics and articles. Contributions from the professionals are welcome.
Monthly Focus and Abstracts
2025 vol. 63
- March 2025
Engagement and Stewardship：Where Do We Stand Today?
(158KB) - February 2025
Rethinking Corporate Disclosure: How Should the Entire Disclosure System Be Restructured and Integrated Reporting Be Positioned Within It? (153KB) - January 2025
Over the 2025 Digital Cliff -For the Full-fledged Advancement of DX (166KB)
2024 vol. 62
- December 2024
Corporate Behavior in Post-deflationary Japanese Economy (149KB) - November 2024
Use of KAMs in Auditor Reports (160KB) - October 2024
Financial Literacy and Financial Behavior (172KB) - September 2024
The Impacts of Population Decline on Stock Markets (173KB) - August 2024
Inflation and Investment (2) (170KB) - July 2024
CEOs of Japanese Companies (161KB) - June 2024
China’s Financial and Capital Markets: Challenges and New Developments (157KB) - May 2024
Promotion of Women's Active Engagement (163KB) - April 2024
The End of Global Monetary Easing and Implications for the Bank of Japan (160KB) - March 2024
Developments and Implications of Sustainability Accounting Standard (140KB) - February 2024
Evaluating TOPIX Reform: Is It Enough? (190KB) - January 2024
Retirement System Changes and Asset Management (589KB)
2023 vol. 61
- December 2023
Significance of the New TSE Disclosure Requirements and Related Issues and Future Use (598KB) - November 2023
Alternative Data in Asset Management Current and Future Use (603KB) - October 2023
Intellectual Property and Intangible Assets Strategy (615KB) - September 2023
AI in Accounting and Auditing (581KB) - August 2023
Reconsideration of JGBs as a Safe Asset (611KB) - July 2023
Health and Productivity Management and Financial Markets (602KB) - June 2023
The Yen and the Japanese Economy (585KB) - May 2023
Inflation and Investment (582KB) - April 2023
Public Money in Japan (596KB) - March 2023
Startup and Venture Finance (573KB) - February 2023
Sustainability Investments and Monitoring (600KB) - January 2023
Human Capital Management and Investor Engagement (555KB)
2022 vol. 60
- December 2022
Well being and the Capital Market (571KB) - November 2022
Employment System and Productivity (177KB) - October 2022
Qualitative Information in Annual Securities Reports (584KB) - September 2022
Tokyo Stock Exchange’s Market Restructuring and Impact on Fama and French’s Three Factors (539KB) - August 2022
Behavioral and Experimental Finance? (571KB) - July 2022
Real Estate Investment: from Establishment of J-REIT Market to Post COVID-19 Era (596KB) - June 2022
Market Reaction to Earnings Announcements (582KB) - May 2022
Impact Investing (581KB) - April 2022
Board Activation and Role of Outside Directors (428KB) - March 2022
Aiming for Tokyo as an International Financial Center (200KB) - February 2022
What Securities Analysts Need to Know about DX (212KB) - January 2022
Utilizing Information Contained in the Disclosure of Accounting Estimates (213KB)
2021 vol. 59
- December 2021
Asset Management in the Carbon Neutral Era (244KB) - November 2021
ESG Disclosure and Utilization by Stakeholders (185KB) - October 2021
Re-visiting Private Pension Tax Arrangements (180KB) - September 2021
Asset Management Business in a Sustainable Society (183KB) - August 2021
Economy and Financial Markets during the COVID-19 Crisis (182KB) - July 2021
Personal Financial Assets and Preparation for 100-year Lifespan (172KB) - June 2021
Share Repurchases under Uncertainty (177KB) - May 2021
Role of Regional Financial Institutions in Regional Revitalization (171KB) - April 2021
Stock Market Index (161KB) - March 2021
Value Investment and Its Future (175KB) - February 2021
Sustainable Finance (175KB) - January 2021
Economy and Financial Markets Post-COVID-19 (207KB)
2020 vol. 58
- December 2020
The End of LIBOR and Related Issues (201KB) - November 2020
The End of Shareholder Primacy? Where Next? (181KB) - October 2020
Accounting Fraud (171KB) - September 2020
Financial Reporting and Business Time Horizon (173KB) - August 2020
Further Transformation of Asset Management Industry (185KB) - July 2020
Reassessment of QQE in 8th Year (183KB) - June 2020
Global Liquidity and Capital Markets (174KB) - May 2020
Digitalization of Finance and Data Science (171KB) - April 2020
Financial Markets Under a Declining Population and Aging Society (167KB) - March 2020
Reconsidering Management Remuneration (176KB) - February 2020
Green Bonds, SDG Bonds, and Sustainable Finance (174KB) - January 2020
Japanese Investor Behavior (202KB)
2019 vol. 57
- December 2019
The Future of Analysts (226KB) - November 2019
Growth Capital and Reconsideration of Public-Private Funds (158KB) - October 2019
New Horizons in Cost of Capital Studies (149KB) - September 2019
New Asset Management Business under Digitalization (169KB) - August 2019
Capital Expenditures and the Equity Market (189KB) - July 2019
Economic Policy Uncertainty and Capital Markets (153KB) - June 2019
Proxy Voting (156KB) - May 2019
Application of Cutting-edge Financial Information Technology (148KB) - April 2019
Climate Change and Stock Markets (155KB) - March 2019
Multi-Factor Models and Valuation (161KB) - February 2019
Management Strategy at Regional Banks (162KB) - January 2019
Implication of Newly Introduced MiFID II (170KB)
2018 vol. 56
- December 2018
Big Data and the Future of Finance (200KB) - November 2018
New Perspective for Securities Analysts: Use of Non-financial Information (154KB) - October 2018
Private Equity─Issues in Japan and Potential Resolutions (175KB) - September 2018
New Development of Asset Management Business Aiming at Trusted Asset Management Companies (160KB) - August 2018
Financial Gerontology (190KB) - July 2018
Investment in Intangible Assets (211KB) - June 2018
Corporate Growth and Macroeconomic Growth (153KB) - May 2018
Effects of Monetary Policy Normalization on Financial Markets (198KB) - April 2018
Expanded Audit Report and Usefulness of Audit Information (157KB) - March 2018
Japan’s Revised Stewardship Code and Institutional Investors (159KB) - February 2018
Managing Currency Risk in Institutional Portfolios (154KB) - January 2018
Increased Diversity of ESG Investing (186KB)
2017 vol. 55
- December 2017
Financial Literacy (206KB) - November 2017
Reconsidering Impairment Accounting of Assets (215KB) - October 2017
Artificial Intelligence in Finance (163KB) - September 2017
Strategies under a New Paradigm in Asset Management Business (155KB) - August 2017
Artificial Intelligence in Finance (158KB) - July 2017
Tax Aggressiveness (157KB) - June 2017
Individuals and Risk Asset Investment (157KB) - May 2017
Household Portfolio Management Hereafter—Conditions For “From Savings to Investment” To Be Realized (188KB) - April 2017
Toward Revitalization of the Securitization Market in Japan (170KB) - March 2017
Strategy for Financial Institutions under Ultra-low Interest Rate Environment (251KB) - February 2017
Discussion of Fair Disclosure Rule in Japan (228KB) - January 2017
Development of Exchange Traded Funds (273KB)
2016 vol. 54
- December 2016
Usefulness of Information on Deferred Tax Assets and Balance Sheet Liabilities (273KB) - November 2016
Towards Fair and Legitimate Securities Markets (332KB) - October 2016
Asset Management under a Low Interest Rate Environment (236KB) - September 2016
A New Paradigm in Asset Management (235KB) - August 2016
Progress of Corporate Governance Reform (253KB) - July 2016
Environmental, Social and Governance (ESG) Issues in Investing (230KB) - June 2016
FinTech (424KB) - May 2016
Goodwill Accounting Issues (231KB) - April 2016
Foreign Exchange Margin Trading (293KB) - March 2016
Minority investor protection in MBOs and other privatizations (340KB) - February 2016
How Financial Regulation Can Be Market Friendly (300KB) - January 2016
Evolution of information for investment decision making (331KB)
2015 vol. 53
- December 2015
Family Business (233KB) - November 2015
Improving the Risk-taking Capability of Japanese Companies (259KB) - October 2015
Improving the Risk-taking Capability of Japanese Companies (228KB) - September 2015
Asset Management in Asia: Opportunities and Future Development (253KB) - August 2015
Japan’s Corporate Governance Code (305KB) - July 2015
Background to Yen Depreciation and Implications for Corporates, Asset Management Industry, and Japan’s Economy (265KB) - June 2015
ROE Improvement and Enterprise Value (261KB) - May 2015
IPOs and the Stock Market (229KB) - April 2015
Big Data and HFT (233KB) - March 2015
Pension Funds and Private Equity Investment (260KB) - February 2015
Revolution in Public Pension Fund Management (231KB) - January 2015
Japan’s Earning Power and Future of Industrial & Regional Finance (268KB)
2014 vol. 52
- December 2014
Recent Progress in Corporate Information Disclosure and Problems— Dealing with short-termism (282KB) - November 2014
Deregulation of Class Shares : Modification of the Oneshare One-vote Principle (244KB) - October 2014
Asset Management Using Alternative Indices (217KB) - September 2014
Applying International Financial Reporting Standards (IFRS) (219KB) - August 2014
Stewardship Code (590KB) - July 2014
The Future of Investment Strategy under the Dramatic Changes in the Investment Environment (214KB) - June 2014
Infrastructure Investments (212KB) - May 2014
NISAs (Nippon Individual Savings Accounts) and Implications for Individual Investors (588KB) - April 2014
Quantitative Easing: Evaluation and Prospects (589KB)
