The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Japan’s shaken markets survive the test

The earthquake that devastated Japan put its markets under severe strain, with huge volumes of orders stressing systems, and bank and brokerage staff unsure whether to keep serving clients or flee. Those who worked through the crisis tell Euromoney about their experiences, and why they are confident about the country’s future.

THE THING THAT Kazutoshi Ohkubo remembers most about the moment the earthquake hit is the sense of confusion. As the tremors began to shake the Mori Tower in Tokyo’s Roppongi district with increasing violence, worker after worker broke off from calls with clients to stand up at their desks, looking around at the television screens and each other for information. It was 2.46pm on Friday, March 11, and as the world now knows a magnitude 9.0 earthquake had struck the northeastern coast of Japan, triggering tidal waves and a series of aftershocks that would slam into the country for days afterwards and cause enormous damage.

As it became clear what had happened, the immediate question for those working in offices across Japan was whether to stay in their buildings or get out. “Our instructions from the company,” says Ohkubo, who is head of equities distribution at Barclays Capital in Japan, “were to stay in the office, because it was safer than going outside. Even so some people chose to run down the stairs. Those who were visiting clients couldn’t get back to the office.”

Market professionals worldwide immediately thought of their colleagues in Tokyo.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree