Guides / City guides / Tokyo
Break into investment banking in Tokyo.
Tokyo combines Japanese megabanks with global banks’ Japan teams. Business-level Japanese opens most doors, and governance reforms have boosted M&A.
The Tokyo recruiting year.
Global banks run separate tracks for students at Japanese universities and those studying abroad.
- Early summer
Programmes open
Global banks open Tokyo summer internships around a year ahead. Morgan Stanley began recruiting for its 2027 Japan summer analyst programme on 7 July 2026.
What to do: Have a Japanese and English CV ready by early summer.
- September–October
Deadlines
Citi’s 2027 Tokyo internship for overseas students had deadlines of 15 September and 15 October.
What to do: Apply for the first deadline if you can.
- Autumn–winter
Interviews
Expect interviews in English and Japanese, sometimes including a video interview.
What to do: Practise technical answers in both languages.
- June–August
Summer internship
Around 8 to 10 weeks on a team, often leading to a full-time offer.
What to do: Treat it as a long interview.
- Domestic students
Japanese graduate hiring
Students at Japanese universities usually apply through banks’ domestic new-graduate process instead.
What to do: Check which track applies to you.
Dates from the 2026–27 cycle. They move each year.
Ways in.
Overseas student tracks
For students at overseas universities, or Japanese students on exchange.
Domestic new-graduate recruitment
Japan’s traditional annual graduate intake.
Career forums
Bilingual career fairs connect global banks with students abroad.
Who hires in Tokyo.
Most client-facing roles expect business-level Japanese.
| Tier | Examples | Why apply |
|---|---|---|
| Japanese firms | Nomura, Daiwa, Mizuho, MUFG, SMBC Nikko | Large domestic franchises across M&A and capital markets. |
| Global banks | Goldman Sachs, Morgan Stanley, J.P. Morgan, Citi, Bank of America, Jefferies | Japan teams, many needing English and Japanese. |
| Others | Macquarie Capital and independent advisers | Smaller teams with cross-border work. |
Check which track you belong to. Global banks often separate students at overseas universities from those at Japanese universities, with different timelines.
Are you Tokyo-ready?
Tick what you’ve done. Be honest: interviewers will find out.
The Tokyo selection process.
- Online application, CV and sometimes an entry sheet.
- Online test or video interview, at some banks.
- Interviews, in English and Japanese.
- Final round, with senior bankers.
Visas and work rights.
Foreign graduates need a work visa, usually sponsored by the employer.
Japanese language ability is a major factor for most roles.
Test yourself: Tokyo
Questions from the Mandate app. Try each before you open it.
Which are major Japanese investment banks?
Nomura, Mizuho, MUFG and SMBC Nikko. Global US and European banks also have Tokyo teams.
For most Tokyo client-facing banking roles, you will usually need…
Business-level Japanese. Some global banks have English-friendly teams, but Japanese opens far more doors.
Japan’s main stock indices are…
The Nikkei 225 and TOPIX. Both track shares on the Tokyo Stock Exchange.
Why has Japanese M&A activity picked up in recent years?
Governance reforms pushing better returns. The Tokyo Stock Exchange has pushed listed firms to focus on capital efficiency.
Get ready before applications open.
Mandate’s Tokyo add-on and core units prepare you for interviews, with daily drills and mock interviews.