In Japan’s case, these demographic changes are taking place at a more rapid pace than any other country has ever experienced. The aging and declining population will have far-reaching impacts. Declining fertility rates will possibly increase immigration. The structure of family and society will inevitably change.
Enterprise-wide risk management has been evolving as financial theory has advanced, new technology has made modeling of risks more feasible, and innovation has helped to find better ways to mitigate risk. Some types of risk are further along in the evolutionary process. While there are many ways to categorize risk, I will use three broad categories for illustration -- market, credit, and operating.