· US-Europe Capital Market Integration and its Implications for Japan Yasuyuki Fuchita · The Bull-Dog Sauce Takeover Defense Sadakazu Osaki · Perspectives on the Use of Household Financial Assets in Japan - Benefits from Transfers Originating in the Bubble Era - Sachiko Miyamoto · Recent Moves by China's Social Security Fund, an Increasingly Important Participant in Chinese and Global Capital Markets Eiichi Sekine