Diana Farah

RIYADH: Tokyo Governor KOIKE Yuriko outlined her vision for transforming Tokyo into a global financial powerhouse rooted in sustainability, innovation and inclusivity during a panel titled “Capital of Change: Can Tokyo Revitalize Itself as the Next Great Financial Hub of the World?” at the 9th Future Investment Initiative (FII).

Speaking for the first time at FII, Koike said Tokyo’s strength lies not only in its economic resilience but also in its ability to adapt to global shifts.

“Tokyo is the driving force of Japan’s economy and one of the most attractive cities in the world,” she said, adding that reforms in corporate governance and deregulation are enhancing its competitiveness as an international financial center.

“We are simplifying administrative processes and eliminating unnecessary bureaucracy,” she said, noting that most Tokyo Metropolitan Government documents no longer require traditional hanko seals. “These steps make it easier for new industries and technologies, including in the financial sector, to take root and thrive.”

The governor also commended the appointment of Japan’s first female Prime Minister, TAKAICHI Sanae, calling it a “transformative moment” for the country.

“I have long maintained that Japan’s greatest energy lies in its women,” Koike said. “Failing to harness this untapped potential would be a missed opportunity. Together with Prime Minister Takaichi, I am confident we will advance women’s empowerment and propel Japan’s economy to new heights,” she said. 

Koike emphasized Tokyo’s new initiatives in resilient finance, including the upcoming issuance of Resilience Bonds aimed at supporting sustainable urban development and climate adaptation.

“Tokyo will become a leader in sustainable and resilient finance by providing financial support to build a strong, sustainable society,” she said.

Koike also revisited her earlier role as Japan’s environment minister, recalling how she launched the “Cool Biz” campaign, encouraging office workers to dress lightly during summer to conserve energy,  a move that changed both habits and technology.

“Mindset is everything,” she said. “A growth mindset accelerates innovation.”

Displaying a sample of a thin, flexible solar panel developed in Japan using iodine, of which Japan is one of the largest global producers, Koike said such technologies would play a key role in Tokyo’s sustainable transformation.

“This solar innovation can be installed anywhere — on walls, rooftops, or even vehicles — advancing energy independence and economic security,” she explained.

In her closing remarks, Koike spotlighted Tokyo’s startup ecosystem, including the Sushi Tech Tokyo conference and the Tokyo Innovation Base (TIB), both designed to connect entrepreneurs with investors and accelerators.

“Since launching our Tokyo Startup Strategy in 2022, we have been supporting local companies ready to enter the global market,” she said. “Sushi Tech — a combination of sustainability and high technology — has become one of Asia’s largest conferences, attracting innovators from around the world.”

She added that TIB, located near Tokyo’s famed Ginza district, operates year-round as a platform for collaboration, networking, and investment.

Koike described her FII experience as “energizing and inspiring,” emphasizing the importance of knowledge exchange between Tokyo and Riyadh. 

Summarizing Tokyo’s appeal to global investors, Koike pointed to the city’s economic stability, commitment to innovation, and integration of sustainability into finance.

“With conferences like Sushi Tech and initiatives like our Resilience Bonds, Tokyo is ready to drive global transformation and growth,” she said.