Not only does this beat 1998's full-year record by one, but observers also say that the total could hit 80 by yearend. Current rules set the minimum interval at 18 months but, as of October 31, the average time was 23 years. Japan Corp., which went public in 1997, just 22 months after it was established. The prospects and the opportunities for start-up ventures in Japan seem to be brighter than ever before. Tokyo and corporate Japan are extolling entrepreneurs as emerging stars in the nation's effort to adapt to the changing global economy.
Many bones of contention remain, however.
Some observers argue, for example, that the government should not expand its direct assistance programs for venture enterprises. Providing subsidized loans may send confusing signals to market-oriented investors about which firms truly have potential. These critics contend that Tokyo should focus its venture capital promotional efforts on the creation of the right environment for entrepreneurs and investors to freely seek each other out, aided by complete financial disclosure.