Japan Corporate Credit Conference 2026
Shareholder Activism, Energy Security and Credit Differentiation
*Japanese and English simultaneous interpretation available
Agenda
Registration & Networking lunch
Macro Economic Outlook
Fireside Chat
- How are geopolitical risks and fluctuating commodity prices shaping corporate strategies in today’s economy?
- What factors could challenge or reinforce the Japanese government’s debt affordability and sovereign credit profile?
- How might advancements in AI redefine trade dynamics, equity markets, and the broader macroeconomic landscape?
- What are the potential fiscal and monetary policy implications of these trends, particularly in terms of their impact on inflation and foreign exchange rates?
Rethinking Credit Through Shareholder Activism and Governance Reform in Japan
Panel Discussion
- How is shareholder activism reshaping credit profiles in Japan—from management buyouts and tender offers to broader strategic transactions?
- Is governance reform marking a more structural shift from balance-sheet restructuring toward stronger operating performance and shareholder returns?
- What could potential revisions to the Corporate Governance Code signal for liquidity, asset efficiency and capital allocation discipline?
- To what extent can non-core divestments unlock value while altering margins, scale and overall credit quality?
Energy Security, Power Demand and the New Drivers of Credit Differentiation in Japan
Panel Discussion
- Why is energy security emerging as a defining credit theme for Japan—and who are the likely corporate winners?
- How are LNG diversification, overseas energy investment and geopolitical risk management reshaping strategic decision-making?
- What does rising power demand from data centers, digitalization and AI mean for utilities, infrastructure and industrial issuers?
- Will capital-intensive energy and infrastructure investment create clearer differentiation in leverage, strategy and credit outcomes?
Sector Highlights
Lead analysts across Moody’s corporate and infrastructure sectors will each deliver a short presentation highlighting the most notable developments in their respective sectors.
Networking Break
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Vikash Halan is a Managing Director and team leader for Moody’s Corporate Finance Group, based in Singapore. In this role, he manages a team of rating analysts covering non-financial corporates in Asia Pacific excluding greater China.
Vikash joined Moody’s in 2011 and, prior to becoming a team leader, spent almost a decade as a lead analyst covering a range of sectors, including oil and gas, chemicals, shipping, conglomerates, real estate and investment holding companies.
Before joining Moody’s, Vikash worked for J.P. Morgan in Hong Kong as a capital markets and ratings advisor for clients in the Asia-Pacific region. He started his career as a chartered accountant with the Indian firm, BDO Lodha.
Vikash holds post graduate diploma in Business management form Xavier Institute of Management.
Martin Petch is a Vice President – Senior Credit Officer with Moody’s Sovereign Risk Group. Based in Singapore, he covers a portfolio of sovereign credits in the Asia Pacific region – including China, Australia, Hong Kong - as well as credits in Central Asia and the Caucasus.
Martin joined Moody’s in 2017, after working as the Manager of Economic Analysis and Research with BHP Billiton covering its key commodity markets, China, Japan and India, economies in the South East Asian region, and the major advanced economies. Martin also held various positions with the Australian Commonwealth Treasury, the Commonwealth Bank and the Australian Industry Group. Martin was a graduate in Economics from the University of Western Australia
Stefan Angrick is the Head of Japan and Frontier Market Economics at Moody's in Tokyo. He holds a master's degree from Leipzig University and a PhD from the National Graduate Institute for Policy Studies in Tokyo. He has previously held positions with Oxford Economics, the Asian Development Bank Institute, the Bank of Finland, and Keio University.
Mariko Semetko is an Associate Managing Director for the Corporate Finance Group (CFG) for Moody’s Ratings. Based in Tokyo, she leads a team of analysts covering Japanese nonfinancial corporates and public infrastructure finance, and oversees the public sectors.
Prior to becoming a manager, Mariko was a lead analyst for a variety of corporates and utilities in Japan and the US. She has extensive experience both in the investment-grade and high-yield spaces. Mariko transferred to the Tokyo office in 2013 after working in the New York office since joining the company in 2006.
Roman Schorr is a Vice President – Senior Analyst in Moody’s Corporate Finance Group. Based in Tokyo, Roman is responsible for a diverse portfolio of major Japanese corporates in the diversified manufacturing, technology, shipping, oil and gas and steel sectors.
Prior to joining Moody’s, Roman was a Director at Fitch Ratings in Tokyo, covering Japanese corporate credits, following his transfer from Fitch’s Frankfurt office. Previously, he was in corporate credit with Mizuho Bank in Dusseldorf.
Roman holds Masters degrees in Japanese Studies and Business Studies from the University of Duisburg-Essen, and in English Philology, Linguistics and Literature from Freie Universitaet Berlin. A native German speaker, Roman is fluent in English and Japanese.
Shunsuke Kimura is an Analyst in Moody’s Corporate Finance Group.
Based in Tokyo, he covers a diversified portfolio of Japanese corporates, including issuers in the real estate, services and manufacturing sectors.
Before rejoining Moody’s, Shunsuke worked at Goldman Sachs in Tokyo as a Credit Risk Associate. Prior to his first stint at Moody’s, he worked at Accenture as a finance specialist, where he created financial models and handled the pricing of new deals.
Shunsuke holds a Bachelor of Economics from Yokohama City University.
Mariko Semetko is an Associate Managing Director for the Corporate Finance Group (CFG) for Moody’s Ratings. Based in Tokyo, she leads a team of analysts covering Japanese nonfinancial corporates and public infrastructure finance, and oversees the public sectors.
Prior to becoming a manager, Mariko was a lead analyst for a variety of corporates and utilities in Japan and the US. She has extensive experience both in the investment-grade and high-yield spaces. Mariko transferred to the Tokyo office in 2013 after working in the New York office since joining the company in 2006.
Ryohei Nishio is a Vice President - Senior Analyst with Moody’s Corporate Finance Group. Based in Tokyo, he covers a portfolio of Japanese corporates in various sectors, including telecom, beverage, and manufacturing.
Before joining Moody’s, Ryohei worked for J.P. Morgan in Tokyo as a Credit Officer, covering a wide range of large Japanese corporate clients. Prior to that, he started his career at Rating and Investment Information, Inc. as a Rating Analyst.
Ryohei holds a Bachelor of Commerce and Management from Hitotsubashi University. He is a CFA charterholder, and a member of the CFA Society Japan.
Hiroe Yamamoto is an AVP- Analyst in the Public Infrastructure Finance department. Based in Tokyo, she manages a portfolio of regional/local governments and government-related issuers in Japan.
Hiroe joined Moody’s in 2015 as an Associate Analyst supporting the analysis of Japanese sub-sovereigns and publishing research on the sector. She also covered utilities, auto and other major corporates. Prior to that, Hiroe analyzed Japanese public sector entities at Credit Foncier and Dexia Credit Local in Tokyo.
Hiroe holds a Bachelor’s degree from Sophia University.
Roman Schorr is a Vice President – Senior Analyst in Moody’s Corporate Finance Group. Based in Tokyo, Roman is responsible for a diverse portfolio of major Japanese corporates in the diversified manufacturing, technology, shipping, oil and gas and steel sectors.
Prior to joining Moody’s, Roman was a Director at Fitch Ratings in Tokyo, covering Japanese corporate credits, following his transfer from Fitch’s Frankfurt office. Previously, he was in corporate credit with Mizuho Bank in Dusseldorf.
Roman holds Masters degrees in Japanese Studies and Business Studies from the University of Duisburg-Essen, and in English Philology, Linguistics and Literature from Freie Universitaet Berlin. A native German speaker, Roman is fluent in English and Japanese.
Ryohei Nishio is a Vice President - Senior Analyst with Moody’s Corporate Finance Group. Based in Tokyo, he covers a portfolio of Japanese corporates in various sectors, including telecom, beverage, and manufacturing.
Before joining Moody’s, Ryohei worked for J.P. Morgan in Tokyo as a Credit Officer, covering a wide range of large Japanese corporate clients. Prior to that, he started his career at Rating and Investment Information, Inc. as a Rating Analyst.
Ryohei holds a Bachelor of Commerce and Management from Hitotsubashi University. He is a CFA charterholder, and a member of the CFA Society Japan.
Covers a broad range of sectors in Japan, including energy (oil & gas), manufacturing, steel, beverages, and tobacco, with responsibility for credit analysis and ratings.
Prior to joining Moody’s, worked as a credit analyst at MetLife Asset Management. Previously held credit analyst roles at Mitsubishi UFJ Bank and Mizuho Bank, including assignments in New York, with extensive experience in global credit analysis.
Graduated from the College of Staten Island and Doshisha Women’s College of Liberal Arts. CFA Charterholder and member of the CFA Society Japan.
Hiroe Yamamoto is an AVP- Analyst in the Public Infrastructure Finance department. Based in Tokyo, she manages a portfolio of regional/local governments and government-related issuers in Japan.
Hiroe joined Moody’s in 2015 as an Associate Analyst supporting the analysis of Japanese sub-sovereigns and publishing research on the sector. She also covered utilities, auto and other major corporates. Prior to that, Hiroe analyzed Japanese public sector entities at Credit Foncier and Dexia Credit Local in Tokyo.
Hiroe holds a Bachelor’s degree from Sophia University.
Shunsuke Kimura is an Analyst in Moody’s Corporate Finance Group.
Based in Tokyo, he covers a diversified portfolio of Japanese corporates, including issuers in the real estate, services and manufacturing sectors.
Before rejoining Moody’s, Shunsuke worked at Goldman Sachs in Tokyo as a Credit Risk Associate. Prior to his first stint at Moody’s, he worked at Accenture as a finance specialist, where he created financial models and handled the pricing of new deals.
Shunsuke holds a Bachelor of Economics from Yokohama City University.
Sachiko Awano is based in Tokyo Office, working as a lead analyst within Moody’s Sub-Sovereign Group, covering regional governments (cities, prefectures, and government-related corps).
Before joining Mood’s, Sachiko worked for MUFG International Credit Division, engaging credit monitoring and approval on Multi-National Corporates, Joint Ventures, as well as Chinese Corps including Chinese government-related corporates.
Sachiko holds a master’s degree in public administration from the University of Pittsburgh and is also an alumna of Meiji Gakuin University in Tokyo.
Naoki Shimizu is an Associate Managing Director – Head of Relationship Management, Commercial Group (Japan). In this role, he leads business development and manages issuer client as well as intermediary relationships in Japan. As Japan Country Manager, he manages the operating environment for the Moody’s Japan business and maintains senior relationships with key internal and external stakeholders.
Naoki joined Moody’s in 2012 initially with the Moody’s Analytics sales team in Tokyo before moving to assume his current position in 2018 at Moody’s Investors Service - Commercial Group. He has been a member of the APAC Diversity Council since 2022 and is passionate about building an inclusive workplace.
Prior to joining Moody’s, Naoki worked at Citi for 12 years, primarily as a structured finance arranger both in New York and Tokyo. He started his career at a Japanese government aid financial institution to support the economic and social development of emerging market countries.
Naoki holds a bachelor’s degree in agricultural engineering from University of Tokyo and a master-of-arts degree in international economics from Paul H. Nitze School of Advanced International Studies (SAIS) at Johns Hopkins University.