Shinsei Bank in Japan is back in the black thanks largely to its newly appointed president, Shigeki Toma, who has shifted the institution away from non-core sectors, and towards emerging industries and a new customer base at home and abroad.

The past few Top 1000 rankings have been characterised by a decline in the Japanese banking sector. However, figures for this year – taken before devastating earthquake hit the north-east of the country – show a reversal in fortune for Japan's banks.

Japanese development bank, the Japan Bank for International Co-operation, is tasked with integrating broader Asian demands into its operations. Environmental finance and capital markets support are two areas of increasing prominence for the bank.

For the first time in its modern economic history, Japan is being hotly pursued by China, which recently became the world's second-largest economy. Nomura Research Institute's chief economist reveals what Japan needs to learn if it is to maintain its lofty position in the new global economic order.

Nomura is making an audacious bid to turn itself into a global investment bank, and its co-head of global investment banking is happy with the progress made so far. Writer Geraldine Lambe