Award Winners

As a result of a rigorous screening process, the following companies have been selected as winners of the Tokyo Financial Award 2023 in the Innovation Category!

Place Company
Outline of proposed service
1st Toggle G.K.
• Provides financial planners and others with a chat based service via unique generative AI technology that supports the analysis of client portfolios.
• This new chat service is capable of providing more accurate analysis than existing AI chatbots, enabled by its ability to analyze past economic, financial, and market data.
2nd Credit Engine, Inc.
• Builds and provides a platform that enables a completely digitalized loan application process for loans guaranteed by guarantee corporations, for all processes undertaken by borrowers, financial institutions, and guarantee corporations.
• Shortens the lead time for loan issuance by streamlining administrative tasks.
3rd Inovat Ltd.
• Provides consumers travelling abroad with a totally digitalized process for obtaining VAT refunds.
• Partners with tax authorities and duty-free stores by providing an API which enables foreign nationals visiting Japan to quickly receive VAT refunds for their purchases by submitting their purchases/receipts using the Inovat app.

Award-winning companies will have presentations at the awards ceremony to be held on Tuesday, March 5.
For more information about the award ceremony and to register to participate, click here.


We use many financial services in our day-to-day life, using e-money to take trains, withdrawing money from ATMs at convenience stores, or taking out life or auto insurance. If you have interests in investing, you may also be investing in stocks or investment trust funds.

Have you ever felt that it would be even better if it was just a little more convenient, or that?

In addition, financial institutions that provide their respective financial services are constantly striving to improve their services and streamline their operations.

For the “Financial Innovation Category”, Tokyo residents and businesses are invited to submit any dissatisfaction they feel, or requests they have regarding the BtoB or BtoC services in Tokyo, or services they wish. Tokyo Metropolitan Government will choose the theme to be resolved from these applications, and ask domestic and foreign financial companies offering relevant solutions to apply for.

From the applicants, the best three examples will be chosen by 2 judging processes and awarded. The first, second and third prize winner receive 10M JPY, 5M JPY, 3M JPY, respectively.



Submission of resolutions

First Judgement

Start of the Support Program

Final Judgement

Award Ceremony

Call for


Thank you for submitting your solutions to the “Financial Innovation Category”. Applications closed.
Please contact the Secretariat at for any questions.

The "Financial Innovation Category" of the Tokyo Financial Award invited financial businesses to apply for "Solutions" to "Themes to be solved" which are based on the needs and challenges related to financial services which were submitted by residents and businesses in Tokyo.

The solutions submitted by applicants are examined in terms of consistency with the theme, innovativeness in the technology and business, and feasibility, among other factors.

We will provide support programs to approximately 15 applicants in Japan and from overseas in order to help them brush up their work for the purpose of commercialization.

After the program, we will conduct a final screening and announce the top three applicants at the award ceremony.
10 million yen, 5 million yen, and 3 million yen will be awarded as prize money respectively to first place, second place and third place applicants.


For companies selected after the First-Stage screening, we will provide support programs to brush up the products and services they develop and offer, including holding preliminary seminars, mentoring/business meetings, networking events, and business matching opportunities.

Click here to see the list of the support program participants.


ARAI YoshihikoProgram Lead, Fintech, Plug and Play Japan
KOMURA RyusukeProgram Director, Venture Café Tokyo
SAITO SoSo & Sato Law Offices Representative Attorney
SUZUKI YuriSenior Partner / Attorney at Law, Atsumi & Sakai
Natalie Shiori FlemingExecutive Officer & Head of Corporate Design at Infcurion
MINE AramuGaiax Corporaion web3 Division Director
LI ChangVice President, Fintech/ Insurtech, Plug and Play Japan; Director, Fintech Association of Japan
OGYU YasuyukiPartner, Strategic Impact Unit, Blockchain Business Leader, EY Strategy and Consulting Co., Ltd.
SUZUKI KeneiDirector, Strategic Impact Unit, EY Strategy and Consulting Co., Ltd.

Business Matching Partner Companies

  • Daiwa Securities Group Inc.

    Daiwa Securities Group Inc.



  • Mitsubishi UFJ Trust and Banking Corporation

    Mitsubishi UFJ Trust and Banking Corporation

  • Mitsui Sumitomo Insurance Company, Limited

    Mitsui Sumitomo Insurance Company, Limited

  • MUFG Bank, Ltd.

    MUFG Bank, Ltd.

  • NTT DATA Japan

    NTT DATA Japan

  • Seven Bank, Ltd.

    Seven Bank, Ltd.

  • WiL, LLC

    WiL, LLC

* and many others


Committee Chair

YAMAOKA Hiromi : Board Director, Chief Sustainability Officer, Future Corporation

Committee Members
OE Kayo : President and CEO, Office Libertas
UCHIYAMA Tomonori : Professor, Tokyo Metropolitan University
KAWAI Yuko : Director, Fintech Association of Japan; Deputy President, The Bank of Kochi Ltd
MASUJIMA Masakazu : Partner, Mori Hamada & Matsumoto (law firm)