David Keohane, FT Tokyo correspondent, and Leo Lewis, Tokyo bureau chief, explore the evolving landscape of private equity in Japan. They discuss the shift from initial skepticism and media criticism to mainstream acceptance of PE, highlighting key demographic changes and labor shortages that make PE's role crucial. The duo delves into Japan’s unique corporate culture, softer takeover methods, and the government's newfound support for PE, while also addressing concerns about potential risks and the future of investment in the region.