The chart shows that, whereas in the United States, the financial industry's GDP has been growing along with the growth in overall nominal GDP, in Japan, the financial industry's GDP has been particularly stagnant amid the sluggishness of nominal GDP overall.
Next, let us look at how nominal GDP has recovered since 2009, the trough following the outbreak of the global financial crisis in September 2008. Following the drop in 2009, Japan's nominal GDP stagnated until 2012 but then recovered from 2013, when QQE was introduced.