Japan’s financial market, centered in Tokyo, ranks third globally with a ~$6 trillion equity market cap and the world’s largest sovereign bond market (~¥1,200 trillion in JGBs). The Tokyo Stock Exchange (TSE) drives equities through the Nikkei 225 and TOPIX, dominated by institutions (~70% ownership) and foreign investors (~30%), while retail participation remains low (~15%). The Bank of Japan (BOJ), holding ~50% of JGBs via Yield Curve Control and massive QQE, ended negative rates in March 2024 and is gradually normalizing policy, with its balance sheet at ~120% of GDP. The yen is the third-most traded currency, fueling Tokyo’s role as the third-largest forex hub, with USD/JPY highly volatile. Derivatives thrive on the Osaka Exchange (Nikkei/JGB futures), while megabanks (MUFG, SMBC, Mizuho) lead alongside the giant GPIF (~¥230 trillion AUM, 50% in equities). Ongoing trends include rising corporate governance, regional bank consolidation, and increasing foreign and equity exposure.