PitchBook：2025年第一季度日本私募与风投市场更新报告（英文版）

Japan has become one of the more dynamic markets globally over the past few years. Japan’s Nikkei 225 reached record highs in 2024, marking one of the strongest equity performances globally. The country is also becoming an emerging hub for private equity (PE), venture capital (VC), and private credit investors, adapting to global market shifts. Several factors underpin Japan’s rally, the first of which is a stronger macroeconomic environment. After decades of deflation and stagnation, Japan h