While I agree that these two points exist, they also help make now a perfect time to get set up, since it’s going to be a great opportunity to get established in a market that can only grow. There might still be some rough times ahead, but the sheer volume of work out there for creative agencies is still overwhelming.

As far as the second point goes, the Japanese government itself has only shown outright hostility to funds looking to take large stakes in publicly listed infrastructure-related firms. Still, there is an undercurrent of resistance to foreign takeover in other sectors, though this is mostly a resistance to the idea of being taken over by funds rather than firms.

I think a firm could move into Japan via an acquisition if they are able to demonstrate that the new entity will be good for all concerned. It is often difficult to win such trust, but a firm would have a much easier time of it than a fund.