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This summer I began developing my research project on Japan’s investment strategies in the context of its rapidly aging population. Through my coursework in finance and economics, I became interested in how this demographic shift is influencing investment behavior and, in turn, reshaping financial markets. Older investors often become more risk-averse, shifting away from equities toward insurance, annuities, and wealth management products.
At the same time, population decline in rural regions such as Hokkaido (excluding large cities as Sapporo and Hakodate) and Okinawa (excluding central mainland) is leading to depressed land values as people migrate to Tokyo and other urban hubs. These trends highlight how demographic change affects not only household decision-making but also broader stock market dynamics and real estate markets.
To do this, I plan to conduct interviews with both policymakers and local residents, beginning in Tokyo (specifically in the Roppongi and Marunouchi districts), before traveling to Okinawa and Hokkaido to compare responses across regions.