One of the region's most liquid but conservative markets is showing signs of moving down the credit curve again, although borrowers are still advised to adopt a step-by-step approach to issuance.
Ian Brimecome, the most senior foreigner in Japan's insurance industry, says companies like Tokio Marine must look beyond the numbers when it comes to deals overseas.
The demise of Lehman Brothers and sale of Merrill Lynch has created fear psychosis in the credit markets, forcing Asian companies to reconsider new debt issue plans.