{"id":56,"date":"2009-11-03T08:12:47","date_gmt":"2009-11-03T12:12:47","guid":{"rendered":"https:\/\/blog.iese.edu\/?page_id=56"},"modified":"2023-11-03T21:16:28","modified_gmt":"2023-11-03T19:16:28","slug":"japan","status":"publish","type":"page","link":"https:\/\/blog.iese.edu\/vcpeindex\/japan\/","title":{"rendered":"Japan"},"content":{"rendered":"<p><script src=\"https:\/\/omnipotent.net\/jquery.sparkline\/2.1.2\/jquery.sparkline.min.js\"><\/script><\/p>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"line-height:36px; width:100%;\">\n<tr>\n<td style=\"font-size:32px; font-weight:bold; width:50%;\">Japan<\/td>\n<td style=\"width:50%;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td style=\"font-size:20px;\">Rank: 3 &middot; Score: 86.8<\/td>\n<td style=\"text-align:right;\">&nbsp;<\/td>\n<\/tr>\n<\/table>\n<p><\/p>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"line-height:36px; width:100%;\">\n<tr>\n<td style=\"color:#999; font-size:10px; width:36%;\">Basic facts<\/td>\n<td style=\"width:11%;\">&nbsp;<\/td>\n<td style=\"width:6%;\">&nbsp;<\/td>\n<td style=\"width:36%;\">&nbsp;<\/td>\n<td style=\"width:11%;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC;\">Population (millions)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">125.1<\/td>\n<td style=\"\">&nbsp;<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">IPOs and pulic issues (quartile)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">Top<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC;\">GDP (US$ billions)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">4,232.3<\/td>\n<td style=\"\">&nbsp;<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">M&amp;A volume (quartile)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">Top<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC;\">GDP per capita (US$)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">33,824.8<\/td>\n<td style=\"\">&nbsp;<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Venture capital investments (quartile)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">Top<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC;\">GDP growth (per cent)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">1.3<\/td>\n<td style=\"\">&nbsp;<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Private equity investments (quartile)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">Top<\/td>\n<\/tr>\n<\/table>\n<div style=\"line-height:36px;\">&nbsp;<\/div>\n<div style=\"line-height:18px;\">&nbsp;<\/div>\n<div style=\"border-top:1px solid #ddd; line-height:24px; width:100%;\">&nbsp;<\/div>\n<div style=\"font-size:20px; line-height:36px; text-align:center; width:100%;\">Performance Overview<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width:100%;\">\n<tr>\n<td style=\"color:#999; font-size:10px; line-height:60px; text-align:center; width:6%;\">Indicator<\/td>\n<td style=\"color:#999; font-size:10px; width:51.1%;\">&nbsp;<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Rank \/ 125<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Rank Trend<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Score<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; font-size:16px; font-weight:bold; line-height:60px; padding-left:10px;\" colspan=\"2\">VC\/PE Country Attractiveness Index<\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; font-size:16px; font-weight:bold; text-align:center;\">3<\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; font-size:16px; font-weight:bold; text-align:center;\"><span class=\"inlinesparkline\">120, 122, 121, 122, 122<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; font-size:16px; font-weight:bold; text-align:center;\">86.8<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd1')\">1<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px;\"><a href=\"javascript:toggle('kd1')\">Economic Activity<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">4<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">122, 122, 114, 122, 121<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">94.1<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd1\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">1.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Size of the Economy (GDP)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">3<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">122, 122, 122, 122, 122<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">80.9<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">1.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Expected Real GDP Growth<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">89<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">12, 57, 10, 9, 36<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">98.9<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">1.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Unemployment<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">15<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">107, 109, 108, 108, 110<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">104.1<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:6%;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd2')\">2<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; width:51.1%;\"><a href=\"javascript:toggle('kd2')\">Depth of Capital Market<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">3<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">122, 122, 122, 122, 122<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">88.1<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd2\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">2.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Size and Liquidity of the Stock Market<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">3<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">121, 121, 121, 121, 122<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">91.3<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">2.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Total Trading Volume<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">3<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">122, 122, 122, 122, 122<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">95.8<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">2.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">IPOs and Public Issuing Activity<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">122, 122, 122, 119, 118<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">74.4<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">2.4<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">M&#038;A Market<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">4<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">121, 121, 121, 121, 121<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">84.3<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">2.5<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Debt and Credit Market<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">27<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">106, 105, 102, 102, 98<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">85.5<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">2.6<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Bank Non-Performing Loans<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">22<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">112, 110, 109, 105, 103<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">99.6<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:6%;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd3')\">3<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; width:51.1%;\"><a href=\"javascript:toggle('kd3')\">Taxation<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">56<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">30, 26, 22, 46, 69<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">92.6<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd3\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">3.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Tax Incentives and Administrative Burden<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">56<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">30, 26, 22, 46, 69<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">92.6<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:6%;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd4')\">4<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; width:51.1%;\"><a href=\"javascript:toggle('kd4')\">Investor Protection and Corporate Governance<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">19<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">108, 108, 107, 106, 106<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">94.2<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd4\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">4.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Quality of Corporate Governance<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">48<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">77, 78, 77, 77, 77<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">79.4<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">4.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Security of Property Rights<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">15<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">106, 110, 110, 110, 110<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">99.3<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">4.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Quality of Legal Enforcement<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">10<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">110, 115, 114, 115, 115<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">105.9<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:6%;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd5')\">5<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; width:51.1%;\"><a href=\"javascript:toggle('kd5')\">Human and Social Environment<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">10<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">117, 115, 115, 115, 115<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">61.4<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd5\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">5.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Education and Human Capital<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">119, 118, 118, 118, 118<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">30.8<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">5.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Labor Regulations<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">63<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">70, 62, 62, 62, 62<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">66.6<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">5.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Bribing and Corruption<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">19<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">105, 105, 106, 106, 106<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">112.4<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:6%;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd6')\">6<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; width:51.1%;\"><a href=\"javascript:toggle('kd6')\">Entrepreneurial Opportunities<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">3<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">122, 122, 122, 122, 122<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">94.0<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd6\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">6.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Innovation<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">13<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">112, 110, 109, 112, 112<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">83.6<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">6.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Scientific and Technical Journal Articles<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">119, 119, 118, 118, 118<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">82.1<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">6.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Burdens of Starting and Running a Business<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">86<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">50, 44, 39, 39, 39<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">93.1<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">6.4<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Simplicity of Closing a Business<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">123, 124, 124, 124, 124<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">110.9<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">6.5<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Corporate R&#038;D<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">2<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">123, 123, 123, 123, 123<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">103.4<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><script type=\"text\/javascript\">\nfunction toggle(element) {\ndocument.getElementById(element).style.display = (document.getElementById(element).style.display == \"none\") ? \"\" : \"none\";\n}\n<\/script><br \/>\n<script type=\"text\/javascript\">\n$(function() { $('.inlinesparkline').sparkline('html', {type: 'line', disableHiddenCheck: true, lineColor: '#ff0000', fillColor: false, spotColor: '#ff0000', minSpotColor: false, maxSpotColor: false, highlightSpotColor: false, highlightLineColor: false, disableTooltips: true, height: '10', width: '36', drawNormalOnTop: false }); });\n<\/script><\/p>\n<div style=\"line-height:18px;\">&nbsp;<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"line-height:30px; width:100%;\">\n<tr>\n<td style=\"color:#999; font-size:10px; width:47%;\">Historic performance, 2019-2023<\/td>\n<td style=\"width:6%;\">&nbsp;<\/td>\n<td style=\"color:#999; font-size:10px; width:47%;\">Key driver performance, 2023<\/td>\n<\/tr>\n<\/table>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"\">\n<tr>\n<td style=\"width:6px;\">&nbsp;<\/td>\n<td style=\"\">\n<script src=\"https:\/\/cdn.jsdelivr.net\/npm\/chart.js\"><\/script><br \/>\n<canvas id=\"myChart1\" width=\"400\" height=\"360\"><\/canvas><br \/>\n<script>\nvar ctx1 = document.getElementById('myChart1');\nvar myChart1 = new Chart(ctx1, {\ntype: 'line',\ndata: {\nlabels: ['2019', '2020', '2021', '2022', '2023'],\ndatasets: [{\nlabel: 'VC\/PE Rank',\ndata: [5, 3, 4, 3, 3],\nfill: false,\nbackgroundColor: 'rgba(255, 0, 0, 0.2)',\nborderColor: '#ff0000',\npointBackgroundColor: '#ff0000',\nborderWidth: 3\n}, {\nlabel: 'VC Rank',\ndata: [4, 3, 4, 3, 3],\nfill: false,\nbackgroundColor: 'rgba(102, 102, 102, 0.2)',\nborderColor: '#666666',\npointBackgroundColor: '#666666',\nborderWidth: 3\n}, {\nlabel: 'PE Rank',\ndata: [3, 2, 3, 3, 2],\nfill: false,\nbackgroundColor: 'rgba(153, 153, 153, 0.2)',\nborderColor: '#bbbbbb',\npointBackgroundColor: '#bbbbbb',\nborderWidth: 3\n}]\n},\noptions: {\nscales: { y: { min: 0, max: 8, ticks: { stepSize: 2 }, reverse: true }},\nplugins: { legend: { display: false }}\n}\n});\n<\/script>\n<\/td>\n<td style=\"width:30px;\">&nbsp;<\/td>\n<td style=\"border-right:1px solid #999;\"><\/td>\n<td style=\"width:30px;\">&nbsp;<\/td>\n<td style=\"\">\n<canvas id=\"myChart2\" width=\"400\" height=\"400\"><\/canvas><br \/>\n<script>\nvar ctx2 = document.getElementById('myChart2');\nvar myChart2 = new Chart(ctx2, {\ntype: 'radar',\ndata: {\nlabels: ['1. Economic Activity', [['2. Depth of'], ['Capital Market ']], '3. Taxation', [['4. Investor Protection and'], ['Corporate Governance']], [['5. Human and Social'], ['Environment']], [['6. Entrepreneurial'], ['Opportunities']]],\ndatasets: [{\nlabel: 'Japan',\ndata: [94.1, 88.1, 92.6, 94.2, 61.4, 94.0],\nfill: true,\nbackgroundColor: 'rgba(255, 0, 0, 0.2)',\nborderColor: '#ff0000',\npointBackgroundColor: '#ff0000',\nborderWidth: 3\n}, {\nlabel: 'Asia',\ndata: [82.8, 61.9, 95.0, 75.0, 43.6, 62.8],\nfill: true,\nbackgroundColor: 'rgba(102, 102, 102, 0.2)',\nborderColor: '#666666',\npointBackgroundColor: '#666666',\nborderWidth: 3 }]},\noptions: {\nscale: { min: 0, max: 125, stepSize: 25 },\nplugins: { legend: { display: false }}\n}\n});\n<\/script>\n<\/td>\n<\/tr>\n<\/table>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"line-height:36px; width:100%;\">\n<tr>\n<td style=\"width:47%;\">\n<table align=\"center\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\">\n<tr>\n<td style=\"width:20px;\">\n<div style=\"background-color:#ff0000; height:4px; width:15px;\"><\/div>\n<\/td>\n<td>VC\/PE Rank<\/td>\n<td style=\"width:20px;\">&nbsp;<\/td>\n<td style=\"width:20px;\">\n<div style=\"background-color:#666; height:4px; width:15px;\"><\/div>\n<\/td>\n<td>VC Rank<\/td>\n<td style=\"width:20px;\">&nbsp;<\/td>\n<td style=\"width:20px;\">\n<div style=\"background-color:#999; height:4px; width:15px;\"><\/div>\n<\/td>\n<td>PE Rank<\/td>\n<\/tr>\n<\/table>\n<\/td>\n<td style=\"width:6%;\"><\/td>\n<td style=\"width:47%;\">\n<table align=\"center\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\">\n<tr>\n<td style=\"width:20px;\">\n<div style=\"background-color:#ff0000; height:4px; width:15px;\"><\/div>\n<\/td>\n<td>Japan<\/td>\n<td style=\"width:20px;\">&nbsp;<\/td>\n<td style=\"width:20px;\">\n<div style=\"background-color:#666; height:4px; width:15px;\"><\/div>\n<\/td>\n<td>Asia<\/td>\n<\/tr>\n<\/table>\n<\/td>\n<\/tr>\n<\/table>\n<div style=\"line-height:36px;\">&nbsp;<\/div>\n<div style=\"line-height:18px;\">&nbsp;<\/div>\n<div style=\"border-top:1px solid #ddd; line-height:24px; width:100%;\">&nbsp;<\/div>\n<div style=\"font-size:20px; line-height:36px; text-align:center; width:100%;\">Peer Group Comparison<\/div>\n<div style=\"line-height:18px;\">&nbsp;<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"height:60px; width:100%;\">\n<tr>\n<td style=\"color:#999; padding-left:10px; font-size:10px; width:14.3%;\">Regional Peers<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Economic Activity<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Depth of Capital Market<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Taxation<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Investor Protection and<br \/>Corporate Governance<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Human and Social<br \/>Environment<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Entrepreneurial<br \/>Opportunites<\/td>\n<\/tr>\n<\/table>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width:100%;\">\n<tr>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; padding-left:10px; width:14.3%;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/japan\/\"><span style=\"font-size:16px; font-weight:bold;\">Japan<\/span><\/a><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; line-height:60px; text-align:center; width:14.3%;\"><span style=\"font-size:16px; font-weight:bold;\">94.1<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span style=\"font-size:16px; font-weight:bold;\">88.1<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span style=\"font-size:16px; font-weight:bold;\">92.6<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span style=\"font-size:16px; font-weight:bold;\">94.2<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span style=\"font-size:16px; font-weight:bold;\">61.4<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span style=\"font-size:16px; font-weight:bold;\">94.0<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/koreasouth\/\">Korea, South<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\">90.0<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">87.0<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">92.0<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">85.4<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">50.0<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">98.1<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/singapore\/\">Singapore<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\">83.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">72.6<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">113.7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">109.5<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">64.5<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">87.7<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/china\/\">China<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\">100.8<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">95.0<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">91.7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">51.0<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">67.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">89.6<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/hongkong\/\">Hong Kong<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\">81.9<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">63.7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">116.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">108.4<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">57.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">78.1<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/india\/\">India<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\">95.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">86.5<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">80.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">79.4<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">43.8<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">69.1<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/malaysia\/\">Malaysia<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\">84.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">76.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">93.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">94.8<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">42.0<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">72.0<\/td>\n<\/tr>\n<\/table>\n<div style=\"color:#999; font-size:10px; line-height:36px; margin-top:6px;\">Last updated: 4 Nov 2023<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Japan &nbsp; Rank: 3 &middot; Score: 86.8 &nbsp; Basic facts &nbsp; &nbsp; &nbsp; &nbsp; Population (millions) 125.1 &nbsp; IPOs and pulic issues (quartile) Top GDP (US$ billions) 4,232.3 &nbsp; M&amp;A volume (quartile) Top GDP per capita (US$) 33,824.8 &nbsp; Venture capital investments (quartile) Top GDP growth (per cent) 1.3 &nbsp; Private equity investments (quartile) Top [&hellip;]<\/p>\n","protected":false},"author":200,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"page_with_heading.php","meta":{"footnotes":""},"class_list":["post-56","page","type-page","status-publish","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/pages\/56","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/users\/200"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/comments?post=56"}],"version-history":[{"count":22,"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/pages\/56\/revisions"}],"predecessor-version":[{"id":9401,"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/pages\/56\/revisions\/9401"}],"wp:attachment":[{"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/media?parent=56"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}