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About JSRI

President’s Address

Japan Securities Research Institute (JSRI) is the Japan’s sole institute dedicated to research our country’s financial and capital markets as an independent and impartial organization. We research the functioning and the system of the financial and capital markets, organize conferences, and operates Securities Library.

JSRI was established in 1961 by the intent of the securities industry to research and study the basic theory and problems regarding securities, and what the securities market structure should be. We are grateful that our institute has conducted the basic research on the financial and capital markets and collected and publicized relevant information with supports from the industry for the past sixty years ever since the establishment. Thus, we have contributed to the academic promotion in the relevant fields of the financial and capital markets.

Today, with the globalized economy and finance, the rapid development of technology, and the global monetary easing, we have faced the necessity of fundamentally reviewing the financial regulations. It is a great concern how Covid-19 pandemic since early 2020 affects the global economy and society and the financial and capital markets. Under these circumstances, JSRI holds research groups of specialists on various themes tackling issues arisen from the circumstances from time to time, carefully paying attention to the way of proceedings. Our study groups make policy recommendations to the financial circles and provides a good opportunity for researchers and practitioners to have communications between them. We also organize conferences and symposiums on the timely issues. Through these activities we wish to meet expectations from the financial circles.

JSRI issues quarterly academic journal “The JSRI Journal of Financial and Securities Markets”, monthly “Securities Review,” and bimonthly “Securities Report.” We also publish following books. “Illustrated Guide to Securities Markets” series provide overviews of securities markets in Japan, the U.S., Europe, and Asia. “Materials on the History of Securities Market in Japan” is a compilation of an enormous number of historical materials on securities. We also compile books carrying reports from our research groups.

Our website provides the contents of these publications and offers retrieval service of the books and documents possessed by the Securities Library in both Tokyo and Osaka and of the Chronological Table of Securities History. We also deliver e-mail newsletters announcing the updated information in a timely manner. Securities Statistics Portal Site provides our users a function to access the statistics publicized by different organizations in the securities industry.

It is my wish that those who have knowledge and interest in the financial and capital markets utilizes our research products and kindly extend supports and cooperation to our activities.

MASUI Kiichiro
Japan Securities
Research Institute


Official Name Japan Securities Research Institute
Establishment August 15, 1961
*Transformed to a public interest incorporated foundation on 1st April, 2010, according to the reform of public interest corporation system
Basic property 1 billion yen
President MASUI Kiichiro
Managing Director TAKAGI Takashi

ISHII Noboru 
(President ,Tachibana Securities Co., Ltd.)

OSAKI Sadakazu 
(Principal Investigator, Nomura Research Institute)

(Executive Director, Japan Securities Dealers Association)

(Attorney at Law, Dai-ichi Fuyo Law Office)

(Professor, Chuo University)

MATSUI Toshihiro 
(Deputy President and COO, Daiwa Securities Group Inc.)


KATO Tetsuo 
(Chairman, Okasan Securities Group Inc.)

MARUYAMA Masahiko 
(Standing Statutory Auditor, Osaka Exchange, Inc.)


【Chairman】KOGA Nobuyuki 
(Special Senior Adviser, Nomura Holdings, Inc.)

EGAWA Masako 
(Specially Appointed Professor, Hitotsubashi University)

(Chairman&CEO, Institute of Glocal Policy Research)

KIKUCHI Hiroyuki 
(Chairman, Kyokuto Securities Co., Ltd.)

(Director & Representative Executive Officer, Group CEO of Japan Exchange Group, Inc.)

(Vice Chairman, The Investment Trusts Association, Japan)

FUKUYAMA Toshihiko 
(Vice Chairman, Capital Market Promotion Foundation)

(Executive Adviser, Japan Securities Finance Co., Ltd.)

(Vice-Chairman, Japan Securities Dealers Association)

YAMAJI Hiromi 
(President & CEO, Tokyo Stock Exchange, Inc.)

Number of officers and employees 25 people


Aug. 1961 Japan Securities Research Institute established
Dec. 1966 Securities Library opened in Tokyo
Nov. 1969 JSRI merged with the Osaka Securities Research Institute at the Osaka Securities Exchange, expanding the institute’s presence to two locations (Tokyo and Osaka)
May 1971 Securities Library opened in Osaka
Apr. 2010 JSRI transformed to a Public Interest Foundation upon the reform of public interest corporation system
Feb. 2019 JSRI’s main office and Securities Library moved to the Taiyo Life
Insurance Nihombashi Building