Financial Institutions Conference – Japan
Banking & Insurance
Agenda
Agenda
Registration & Networking Lunch
Welcome Remarks
Moody’s View: The Economic and Sovereign Outlook for Japan
PRESENTATION
- Is Japan’s economic outlook resilient to evolving policy and global conditions?
- Will inflation pressures stymie economic growth?
- Are there any implications for the sovereign credit outlook?
Keynote fireside chat with Mizuho Chief Financial Officer
More details coming soon.
CRO priorities in a shifting market
PANEL DISCUSSION
- How are rising rates and yield curve volatility reshaping banks' risk management?
- Resilience of deposit funding in a rising rate environment
- How are banks managing geopolitical shocks and a changing macro environment?
- How should CROs rethink resilience against cyber and operational risks?
- What new risks are emerging from banks’ growing private credit exposures?
Networking Break
AI, Rates and Banking Resilience
PANEL DISCUSSION
- What is next for Japan’s banking system?
- How are rising rates reshaping regional banks?
- Will consolidation create resilience or new risks?
- How could stablecoins and tokenized money shift credit risk?
Closing Remarks
Agenda
Registration & Networking Lunch
Welcome Remarks
Moody’s Macro View: Global and Japan Economic Outlook: Fault Lines
PRESENTATION
- How will geopolitical upheaval and trade frictions affect the global and Japanese economies?
- Will the artificial intelligence boom keep lifting corporate profits, financial markets, and the real economy?
- As global growth and inflation dynamics shift, can governments and central banks avoid policy mistakes?
- What will a tougher global backdrop and policy changes mean for exchange rates?
- How will shifts in bond yields affect capital flows?
Keynote Fireside Chat with Tokio Marine CFO
More details coming soon.
Insurance strategy amid market uncertainty
PANEL DISCUSSION
- How are rising JGB yields reshaping insurers’ asset allocation choices?
- How can insurers manage investment risk amid geopolitical and market volatility?
- Where do credit, private assets and alternatives fit in a higher-rate environment?
Networking Break
In Focus Sessions
- Japan insurance industry outlook
- Insurance Linked Securities (ILS)
*More speakers will be announced shortly.
Closing Remarks
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closeMartin Petch is a Vice President 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.
Makoto Samejima has served as Group Chief Financial Officer of Mizuho Financial Group, Inc. since April 2026. Prior to his current role, he was Chief Audit Executive of Mizuho Bank, Ltd. (2024-2026) and Deputy Head of the Global Corporate & Investment Banking Company (2022-2024). His other senior leadership roles include Head of the Global Corporate Coordination Department and Head of its Strategy Planning.
From 2014 to 2019, Mr. Samejima served as Co-COO of Banking Americas, where he led the acquisition of North American business from The Royal Bank of Scotland (RBS) and oversaw its seamless post-merger integration. He also served as Executive Assistant to the Group CEO from 2012 to 2014.
His earlier career was focused on M&A advisory and corporate strategy. He spent nearly a decade in M&A advisory (2002-2010), including a secondment to Evercore Partners in New York (2006-2008), where he specialized in cross-border transactions between the US and Japan.
Mr. Samejima began his career at Mizuho in 1994. He holds an LL.M. from Harvard Law School, an LL.M. from Northwestern University School of Law, and a Bachelor of Laws from The University of Tokyo.
Tetsuya Yamamoto is a VP-Ratings with the Financial Institutions Group of Moody’s Japan. He covers ratings across a portfolio of Japanese megabanks, major banks, regional banks, securities firms, government related financial institutions, and finance companies.
Prior to Moody’s, Tetsuya worked as a senior portfolio manager for Tokyo Star Bank. Prior to Tokyo Star Bank, Tetsuya worked for Sumitomo Mitsui Banking Corporation (formerly Sumitomo Bank) as a senior analyst at Corporate Research Department in Tokyo and Hong Kong, covering a wide range of sectors including food & beverage, retail & wholesale, telecommunications, steel, chemical and financial institutions.
Tetsuya holds a bachelor’s degree in economics from Kyoto University.
Business Experience:
April 1991 Joined The Sumitomo Bank, Limited
April 2018 General Manager, Planning Dept., Americas Division
Sumitomo Mitsui Banking Corporation(SMBC)
and General Manager, Planning Dept., Americas Division
Sumitomo Mitsui Financial Group, Inc.(SMFG)
April 2019 Executive Officer and General Manager, Planning Dept., Americas Division, SMBC
Executive Officer and General Manager, Planning Dept., Americas Division, SMFG
October 2021 Executive Officer, Deputy Head of The Americas Division, SMBC
Executive Officer, Deputy Head of Americas Division, SMFG
April 2022 Managing Executive Officer, Deputy Head of The Americas Division, SMBC
Managing Executive Officer, Deputy Head of Americas Division, SMFG
April 2023 Managing Executive Officer,
Corporate Risk Management Dept., Risk Management Information Dept.,
Risk Management Depts., Americas Division,
Europe, Middle East and Africa Division, Asia Pacific Division
and East Asia, SMBC
Managing Executive Officer,
Corporate Risk Management Dept., Risk Management Information Dept.,
Risk Management Dept., Americas Division, SMFG
March 2024 Director and Managing Executive Officer,
Corporate Risk Management Dept., Risk Management Information Dept.,
Risk Management Depts., Americas Division,
Europe, Middle East and Africa Division, Asia Pacific Division
and East Asia, SMBC
Managing Executive Officer,
Corporate Risk Management Dept., Risk Management Information Dept.,
Risk Management Dept., Americas Division, SMFG
April 2024 Director and Senior Managing Executive Officer,
Corporate Risk Management Dept., Risk Management Information Dept.,
Risk Management Depts., Americas Division,
Europe, Middle East and Africa Division, Asia Pacific Division
and East Asia, Credit & Investment Planning Dept.,
Credit Depts., Americas Division, Europe, Middle East and Africa Division
and Asia Pacific Division, Global Credit Dept., SMBC
Senior Managing Executive Officer, Group CRO
Corporate Risk Management Dept., Risk Management Information Dept.,
Risk Management Dept., Americas Division,
Credit & Investment Planning Dept., SMFG
April 2026 Director and Senior Managing Executive Officer,
Corporate Risk Management Dept., Risk Management Information Dept.,
Risk Management Depts., Americas Division,
Europe, Middle East and Africa Division and Asia Pacific Division,
Credit & Investment Planning Dept.,
Credit Depts., Americas Division, Europe, Middle East and Africa Division
and Asia Pacific Division, Global Credit Dept., SMBC
Senior Managing Executive Officer, Group CRO
Corporate Risk Management Dept., Risk Management Information Dept.,
Risk Management Dept., Americas Division,
Credit & Investment Planning Dept., SMFG
March 1990 Graduated from the Faculty of Law, Keio University
April 1990 Joined The Chiba Bank, Ltd.
June 2015 General Manager of Hong Kong Branch, The Chiba Bank, Ltd.
June 2017 General Manager of Corporate Administration Division, The Chiba Bank, Ltd.
December 2018 General Manager of Compliance Division, The Chiba Bank, Ltd.
April 2019 General Manager of Corporate Planning Division, The Chiba Bank, Ltd.
June 2019 Executive Officer and General Manager of Corporate Planning Division, The Chiba Bank, Ltd.
October 2020 Executive Officer in charge of New Business, The Chiba Bank, Ltd.
April 2021 Corporate Planning Division and Human Resources Division, The Chiba Bank, Ltd. (Supervisor of regional trading company business)
May 2021 President and Representative Director, Chibagin Market Co., Ltd.
April 2023 Managing Executive Officer (Group Chief Risk Officer, General Manager in charge of Corporate Management), The Chiba Bank, Ltd.
June 2023 Director and Managing Executive Officer (Group Chief Risk Officer, General Manager in charge of Corporate Management), The Chiba Bank, Ltd.
October 2023 Director and Managing Executive Officer (Group Chief Risk Officer, General Manager in charge of Corporate Management), The Chiba Bank, Ltd.
April 2026 Director and Senior Executive Officer (Group Chief Risk Officer, General Manager in charge of Corporate Management), The Chiba Bank, Ltd.
Tomoya Suzuki is a VP - Ratings with the Financial Institutions Group.
Based in Tokyo, he covers a portfolio of Japanese issuers comprising megabanks, major banks, securities firms, finance companies, and life insurers. Prior to this, he covered Japanese property and casualty insurers.
Before joining Moody’s Ratings, Tomoya worked in credit risk management at Credit Suisse in Tokyo, and in credit investment at a Japanese bank.
Tomoya holds a Bachelor of Arts in Finance and International Business from the University of South Carolina.
Tetsuya Yamamoto is a VP-Ratings with the Financial Institutions Group of Moody’s Japan. He covers ratings across a portfolio of Japanese megabanks, major banks, regional banks, securities firms, government related financial institutions, and finance companies.
Prior to Moody’s, Tetsuya worked as a senior portfolio manager for Tokyo Star Bank. Prior to Tokyo Star Bank, Tetsuya worked for Sumitomo Mitsui Banking Corporation (formerly Sumitomo Bank) as a senior analyst at Corporate Research Department in Tokyo and Hong Kong, covering a wide range of sectors including food & beverage, retail & wholesale, telecommunications, steel, chemical and financial institutions.
Tetsuya holds a bachelor’s degree in economics from Kyoto University.
Tomoya Suzuki is a VP - Ratings with the Financial Institutions Group.
Based in Tokyo, he covers a portfolio of Japanese issuers comprising megabanks, major banks, securities firms, finance companies, and life insurers. Prior to this, he covered Japanese property and casualty insurers.
Before joining Moody’s Ratings, Tomoya worked in credit risk management at Credit Suisse in Tokyo, and in credit investment at a Japanese bank.
Tomoya holds a Bachelor of Arts in Finance and International Business from the University of South Carolina.
Kensuke Ogawa is an AVP - Ratings with the Financial Institutions Group at Moody’s Ratings. Based in Tokyo, he covers a portfolio of major Japanese banks and insurers.
Kensuke first worked for Moody’s in January 2020 as an Associate Analyst, joining the company after working for a Japanese life insurer in Tokyo and London, and a foreign asset management company as a credit analyst. He left Moody’s for a Japanese asset manager in 2021, and rejoined Moody’s in 2023.
Kensuke holds a Master of Business Administration from Hitotsubashi University and a Bachelor of Engineering from Osaka University. He is a CFA Charterholder.
Stefan Angrick is a director at Moody’s Analytics in Tokyo. He leads the firm’s country risk analysis and oversees scenario analysis, climate modeling, and nowcasting for the Asia-Pacific region. As head of Japan and frontier market economics, he directs research on Northeast Asia and small emerging economies globally. Stefan’s research focuses on trade, foreign direct investment, and portfolio flows.
His work is regularly quoted in major international media, including the Financial Times, The Wall Street Journal, and Reuters. He frequently appears on CNBC, Bloomberg TV, and BBC, and contributes op-eds to the Financial Times and Nikkei. Stefan holds a PhD from Tokyo’s National Graduate Institute for Policy Studies, a master’s degree from Leipzig University, and spent a year studying at Shanghai Jiao Tong University. He has previously held positions with Oxford Economics, the Asian Development Bank Institute, the Bank of Finland, and Keio University. His academic work has been published in leading journals such as the Cambridge Journal of Economics and the International Journal of Central Banking.
Career:
April 1987 Joined Tokio Marine and Fire Insurance Co., Ltd.
Aug 2011 General Manager, Corporate Accounting Dept. of Tokio Marine & Nichido
July 2012 General Manager, Representative in New York (Tokio Marine North America, Inc.) of Tokio Marine & Nichido
April 2016 Associate Director and General Manager, Representative in New York (Tokio Marine North America, Inc.) of Tokio Marine & Nichido
April 2017 Managing Director of Tokio Marine & Nichido Life Insurance Co., Ltd. (“Tokio Marine Nichido Life”)
March 2018 Resigned from his positions as Managing Director of Tokio Marine & Nichido Life
April 2018 Executive Officer and General Manager, Financial Planning Dept. of Tokio Marine Holdings
Executive Officer and General Manager, Financial Planning Dept. of Tokio Marine & Nichido
April 2020 Managing Executive Officer of Tokio Marine Holdings
Managing Executive Officer of Tokio Marine & Nichido
June 2020 Managing Director of Tokio Marine & Nichido
June 2020 Managing Director & Group Chief Investment Officer of Tokio Marine Holdings
April 2022 Managing Executive Officer of Tokio Marine & Nichido
June 2022 Managing Executive Officer & Group Chief Investment Officer of Tokio Marine Holdings
March 2024 Resigned from his position as Managing Executive Officer of Tokio Marine & Nichido
April 2024 Managing Executive Officer of Tokio Marine Holdings (Deputy Head of International
Business in charge of Asia, excluding China and East Asia) (to present)
April 2026 Managing Executive Officer & Group Chief Financial Officer of Tokio Marine Holdings (to present)
Managing Director of Tokio Marine & Nichido(to present)
Eiji is a Vice President - Ratings, responsible for rating Japanese banks and insurance companies at Moody's Japan K.K. He rejoined Moody's in June 2026.
Prior to rejoining Moody's, Eiji worked at Mitsubishi UFJ Morgan Stanley Securities, providing rating and financial strategy advice, and at S&P Global Ratings, where he served as a Director, engaging in credit analysis for financial institutions. Prior to that, He worked at Moody's and audit firms, handling credit analysis and auditing for financial institutions.
Eiji holds a bachelor's degree from the Faculty of Economics at Keio University and is a CFA charterholder.
Employment Experience
1984 : Joined Fukoku Mutual Life Insurance Company
1987 : Transferred to London (London Representative Office) as Representative
1992 : Transferred to International Finance Division
1999 : Transferred to London (London Representative Office) as chief representative
2002: Transferred to Manger, International Finance Div.
2005:Transferred to Manger, Equity Management Div.
2010:General Manager, Equity Dept..
2017:Executive Officer, Equity Dept.
2018:Executive Officer, Securities Investment Dept.
2022:Managing Executive Officer, Corporate Sales Dept.
2024:Member of the Board Director and Managing Executive Officer
2024:Member of the Board Director and Managing Executive Officer / CIO
Takeko Uemoto is a Senior Principal with the Actuarial Practice of Oliver Wyman and is based in New York. She has over 25 years of insurance industry experience in both Japan and US. Her areas of expertise include reinsurance strategy, Japanese insurance business, ALM, and capital framework.
Takeko joins us from Aflac, where she served as Senior Vice President and Global Reinsurance Officer of Aflac Incorporated and Chief Actuary for its Bermuda subsidiary, Aflac Re. Prior to working for Aflac, Takeko worked with Prudential, Goldman Sachs Asset Management, Ernst and Young and Great American Insurance Companies.
Relevant Experience
- Reinsurance
- Built and managed a global and cross-functional reinsurance strategy program
- Led a global project team to establish a reinsurance subsidiary in Bermuda
- Oversaw valuation, morbidity risk analysis, SBA application, structuring, and pricing for Bermuda reinsurer
- Managed reinsurance structuring analysis and US statutory valuation of the reinsured affiliated Japan business to the US
- Global capital, risk, ALM, and valuation
- Provided an in-person ESR education session for the BMA and BILTIR
- Launched and led global IFRS implementation program for international business
- Led actuarial audit of US GAAP, US Statutory and IFRS for life insurers
- Implemented economic capital, stress test, model risk, Solvency II, and IAIS ICS FT in international business
- Led strategic asset allocation analyses project for clients in Asia and the US
- Created ALM dashboard and surplus roll-forward analytics. Integrated risk appetite and capital management
- Modeling
- Modeled assets, liabilities, and ALM of many insurance product lines
- Managed MoSes actuarial software management and global Prophet implementatio
Speaking Engagements and Professional Activities
- SOA Annual Meeting – Japan’s new capital framework, reinsurance strategy – 2023, 2024
- BILTIR Annual Conference – A panelist of Bridging Markets – Life Reinsurance Opportunities and Insights from Japan – 2024
- SOA Employer’s Council Member – 2022–2025
- BILTIR Global Advocacy Committee Japan subcommittee chair – 2023–2025
- BILTIR GAC Japan subcommittee ESR education sessions for BILTIR and BMA, 2024, 2025
Tomoya Suzuki is a VP - Ratings with the Financial Institutions Group.
Based in Tokyo, he covers a portfolio of Japanese issuers comprising megabanks, major banks, securities firms, finance companies, and life insurers. Prior to this, he covered Japanese property and casualty insurers.
Before joining Moody’s Ratings, Tomoya worked in credit risk management at Credit Suisse in Tokyo, and in credit investment at a Japanese bank.
Tomoya holds a Bachelor of Arts in Finance and International Business from the University of South Carolina.
Alka Anbarasu is an Executive Director - Ratings in the Financial Institutions Group in Asia. Based in Singapore, Alka is responsible for Moody's analytical teams covering ratings and research on banks, insurance companies, and non-bank financial institutions in Japan, ASEAN and Indian Sub-continent. Alka also coordinates the Global Financial Institution Group's efforts on Environmental, Social and Governance (ESG) scoring and research. Alka is a regular speaker at Moody's market briefings, external conferences podcasts and broadcast media. She is very active in promoting Diversity, Equity and Inclusion (DE&I) initiatives and is a passionate impact leader for Moody's Community Impact initiatives in Asia.
Alka joined Moody's in 2013 and over the years has led the ratings of several high profile Asian financial institutions. Prior to joining Moody's, she worked in the investment banking division of J.P. Morgan in London and Mumbai and ING Vysya Bank in India. She has close to 20 years of experience in the financial industry. Alka holds an MBA from the Xavier Institute of Management in India.
Kensuke Ogawa is an AVP - Ratings with the Financial Institutions Group at Moody’s Ratings. Based in Tokyo, he covers a portfolio of major Japanese banks and insurers.
Kensuke first worked for Moody’s in January 2020 as an Associate Analyst, joining the company after working for a Japanese life insurer in Tokyo and London, and a foreign asset management company as a credit analyst. He left Moody’s for a Japanese asset manager in 2021, and rejoined Moody’s in 2023.
Kensuke holds a Master of Business Administration from Hitotsubashi University and a Bachelor of Engineering from Osaka University. He is a CFA Charterholder.