Tokushichi's views were shared by one of Japan's most powerful financiers, Junnosuke Inoue, Governor of the Bank of Japan:
In the future, large corporations will undoubtedly develop in Japan, and since existing banks are not suited to the task, it is imperative that we establish some mechanism by which large amounts of capital can be raised. Although underwriting syndicates of an informal nature have been formed in Japan, there is as yet no single organization dedicated specifically to the bond market. As such, the bond market is an area where Japan's financial community is clearly behind the times, and I strongly believe that it is time to remedy the situation.
Well acquainted with the sound reputation and strength of Nomura, and convinced that Tokushichi's guidance would assure that the new bank took a balanced, long-term view of events, Mr. Inoue personally encouraged the new undertaking when he met with Otogo Kataoka, managing director of the Osaka Nomura Bank, urging him to concentrate on the development of a viable bond market in Japan.
