2006 – 2019
Listing Examination
Tokyo Stock Exchange
Listing examination, IPOs, FP&A
NO. 01 — PROFILE
Questions from practice. Answers from research.
As a management scholar with a Ph.D. in Finance, Kazuhiro Kikuchi brings together academic research and hands-on experience at the front lines of the capital markets — listing examination, investment banking, and corporate venture capital — to study corporate finance and venture finance. He takes questions that arise in practice and answers them with large-scale firm data and finance theory.
- Ph.D. in Finance
- Management Scholar | Practitioner-Scholar
- Stock Exchange | Investment Bank | Corporation
- Visiting Professor, The Graduate School of Project Design
- Visiting Researcher, Faculty of Business Administration, Nanzan University
NO. 02 — BIOGRAPHY
Research and practice
Three sides of the capital market
Kazuhiro Kikuchi, Ph.D. in Finance, is a management scholar specializing in corporate and venture finance, working at the intersection of research and practice. Drawing on experience at the Tokyo Stock Exchange, J.P. Morgan Securities (on secondment), and Mitsubishi Estate, his research examines how firms finance growth and manage corporate investments. He serves as a Visiting Professor at the Graduate School of Project Design and a Visiting Researcher at Nanzan University.
2014 – 2015
Underwriting
J.P. Morgan Securities, Investment Banking (on secondment)
IPO advisory, financial advisory
2019 –
Investor
Mitsubishi Estate
Structured finance, new business development, CVC
EDUCATION
Ph.D. in Finance
Hitotsubashi University, Graduate School of Business Administration
MBA in Finance
Hitotsubashi University, Graduate School of International Corporate Strategy
ACADEMIC SOCIETIES
Japan Finance Association
Nippon Finance Association
Japan Academic Society for Ventures and Entrepreneurs
NO. 03 — AREAS OF EXPERTISE
What I research and write about
From startups to listed companies — the dynamics of corporate growth and financing
01
Corporate Financing & Growth Investment
How firms' financing decisions shape their growth investment, examined through equity finance, debt finance, and venture debt.
02
IPO & Capital Markets
Building on listing examination at the Tokyo Stock Exchange and IPO advisory at J.P. Morgan Securities, he examines the many issues surrounding initial public offerings from both practical and empirical perspectives.
03
Venture Finance & CVC
Alongside the practice of corporate venture capital, he studies the community structure of venture capital and financing methods suited to each growth stage of startups, both theoretically and empirically.
NO. 04 — SELECTED RESEARCH
Papers & Presentations
Selected papers and conference presentations. Many of his publications are in Japanese; for a complete and up-to-date list, please see researchmap.
2026
Term Structure of Debt and Investment Spikes
PDF (Yu-cho Foundation) ↗Working Paper
Bank borrowing relationships and corporate investments
2026
Term Structure of Debt and Investment Spikes
2025
Large corporate investments and financial flexibility: debt maturity structure and bank borrowing relationships
NO. 05 — TEACHING
Courses
Drawing on research and practice in corporate and venture finance, he teaches practical courses that connect the qualitative design of business structure and customer value with the quantitative work of financial modeling and investment decisions. Courses can also be tailored for executive education and entrepreneur development programs.
01
Financial Modeling for New Ventures
02
Business Model Canvas
03
Value Proposition Design
NO. 06 — MEDIA & SPEAKING
Articles, Governance, Advisory & Talks
He welcomes requests for articles, interviews, expert commentary, speaking engagements, and research collaboration on corporate finance, IPOs, and startup investment.
- Article Contributions
- Media Interviews
- Expert Commentary
- Speaking Engagements
- Research Collaboration
BOARD & ADVISORY
For companies preparing to go public, he also accepts roles as an outside director or outside auditor, or as an adviser on finance and capital policy.
WHAT I CANNOT ACCEPT
- Advice on buying or selling specific securities, or on investment decisions
- Comments on his employer's business, projects, or transactions he has been involved in
- Matters involving non-public information obtained in past positions, such as listing examinations
- Endorsements of specific products or services
NO. 07 — CONTACT
Contact for Inquiries
Please use the form below for inquiries. Requests in English or Japanese are welcome. We aim to reply within five business days.
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