Staff writer
As the government readies itself for the debut of pension plans modeled after the U.S. 401(k) that may come as early as fall 2000, both Japanese and foreign financial institutions are busy jostling for a foothold in the market.
Earlier this month, two cross-sector alliances for developing account management systems for 401(k)-style plans were set up between Nomura Securities Co. and Industrial Bank of Japan, and the Sumitomo and Mitsubishi group financial companies.