Japan’s lackluster economic performance in the 1990s and into the 2000s saw low points that included the closure of NASDAQ Japan in 2002, after less than two years in operation. While the JASDAQ took on some of the function of the defunct market in promoting new business ventures, the number of new initial public offerings (IPOs) in Japan remains modest. Is entrepreneurship doomed to failure in Japan? Recent findings in new technology industries tell a different story, albeit in the seemingly unlikeliest of places.
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