Ten Percent of Firms Consider Introducing 401(k) Plans-The Nissay Business Conditions Survey-

the Industrial Research Dept.

Introduction

During its first year， the Japanese Big Bang enacted major reforms that have altered the financial landscape， including the Revised Foreign Exchange Law implemented in April 1998 and lifting of the ban on investment trust sales by banks and insurance in December. Foreign financial firms also made inroads into the Japanese market， while the entire industry restructured and realigned.

These changes also affected the relationship between companies and their financial institutions. To see how， Nippon Life Insurance Company and NLI Research Institute jointly conducted a survey from January to February of this year entitled， "Changes in Transactions Among Financial Institutions and Companies Since the Start of the Financial Big Bang." The survey also asked companies about their level of awareness of 401(k) plans. A total of 5，373 responded， most of which were second-tier and small and mid-sized companies from around the country. Here we describe their perspective on changes in how financial institutions do business， their stance toward financial institutions， and awareness of 401(k) plans.