Category: Newsletter 34

Applications Now Being Accepted for the 2026 FUTI Scholarship Programs

FUTI has recently begun accepting scholarship applications for 2026. Information is available at friendsofutokyo.org/scholarships-awards. The scholarships are offered to qualified students and alumni of UTokyo aspiring to study in universities in the US and to students at universities in the US interested in studying at UTokyo, regardless of nationality. Short-term study scholarships are awarded with funding made available through the Hsun Kwei & Aiko Takizawa Chou Scholarship and the FUTI Global Leadership Award programs. However, an applicant need only submit their application through a single portal mentioned above. FUTI has just one set of procedures for application, criteria, selection, and awarding, and will notify recipients as to which scholarship will be awarded after assessing the best fit to fulfill the focus of each scholarship category.  The Hsun Kwei & Aiko Takizawa Chou Scholarship, administered by Friends of UTokyo, Inc. (FUTI) is funded by a generous donation made to the University of Tokyo New York Office (UTokyoNY) by Dr. Hsun Kwei Chou and Mrs. Aiko Takizawa Chou. Short-term programs are also supported by donations from UTokyo alumni and other individual supporters of FUTI. There are several scholarships in the mid- to long-term studies category including the ITO FOUNDATION U.S.A.-FUTI Scholarship, IF Ikuei Scholarship, Hsun Kwei & Aiko Takizawa Chou Scholarship, FUTI Scholarship, and Hisashi Kobayashi Memorial Scholarship (for doctoral students from anyJapanese university. As in the case of the scholarships for short-term studies, FUTI follows one set of procedures for application, criteria, selection, and awarding. The ITO FOUNDATION U.S.A. was established in the U.S. by its founder and former chairman, late Mr. Masatoshi Ito, who was the honorary chairman of Seven and i Holdings Co. He was also the founder and chairman of the Ito Scholarship Foundation which has a long history in Japan of supporting an extensive range of students with scholarships for their studies. We look forward to receiving applications from interested students.

2025-2026 Fundraising Campaign is Ongoing

The 2025-2026 FUTI Campaign is still underway, but this year is special! If more than 150 people donate during the campaign period (July 2025 – June 2026), the FUTI “Celebrate UTokyo’s 150th Anniversary with a Gift” Campaign will receive a major boost of $150,000 match by an anonymous donor. The donation can be in any amount, large or small. We are pleased to report that 26 donors have already contributed, but there is still time for you to  help FUTI reach its goal! Since the inception of Friends of UTokyo, Inc. in 2007, 323 scholarships have been awarded to support University of Tokyo students to study in the US and US university students to study at UTokyo. These study abroad experiences, whether it be a few weeks participating in a summer internship or a long-term endeavor to obtain a degree, have made a valuable impact on the students’ lives. Students express their gratitude for the scholarship in their reports, often indicating that they would not have been able to afford the study abroad without the scholarship. FUTI’s scholarship programs are made possible through the generous donations from UTokyo alumni and other supporters of Friends of UTokyo who believe in this mission to support the global leaders of tomorrow. Click here to view a message from President Iwao Ojima and messages from select scholarship recipients.For more information and to donate, please visit friendsofutokyo.org/donate.

FUTI Travel Award Supports Early-Stage Scholars in Advancing Global Research and Collaboration

Applications for this award are accepted throughout the year, and non-tenured, early-stage scholars at the University of Tokyo are encouraged to apply and to spread the word of this award. Priority is given to US visits, but non-US trips will also be considered depending on the volume of applicants. The FUTI Travel Award for Early-stage Scholars was established in December 2023 and has awarded two recipients in the 2024-2025 cycle: Masaaki Miki who is anAssistant Professor ofGeneral Systems Studies at the Graduate School of Arts and Sciences at The University of Tokyo, and Masaki Michihata who is an Associate Professor at the Department of Precision Engineering at The University of Tokyo. In May, 2025, Assistant Professor Masaaki Miki attended the International Conference and Doctoral Summer School, “Geometric Aspects of Architecture and Mechanical Engineering,” at the Institute of Mathematics, University of Granada (IMAG) and delivered an invited lecture titled “Variable Projection (VarPro) Method and Form-finding of Tension-compression Mixed Shells,” along with a poster session where he engaged with peers on shell form-finding and geometry processing, with an emphasis on integrating discrete differential geometry into architectural design. In addition to the conference, he established connections with researchers from KAUST (King Abdullah University of Science and Technology), Cambridge, ETH Zurich, and other European institutions. In June, 2025, Prof. Masaki Michihata visited the National Institute of Standards and Technology (NIST) at the national metrology institute of the United States near Washington D.C. The visit provided a rare and valuable opportunity for him to observe and learn about the most advanced measurement technologies currently in development. Prof. Michihata engaged in discussions with several researchers and engineers. He received a detailed explanation from the team leader, Dr. Jay H. Hendricks, about the latest developments in pressure metrology including highly accurate manometers and piston gauges, and a new pressure standard under development known as the fixed length optical cavity (FLOC). He also was introduced to NIST’s capabilities in refractive index measurement using optical frequency combs, as well as their calibration systems for large-scale laser-based distance measurement devices. Furthermore, he observed their high-precision coordinate measuring machines (CMMs), micro-CMMs, and a newly developed ultra-precise caliper system. In addition, he participated in the Manufacturing Science and Engineering Conference (MSEC) held in Greenville, South Carolina, where he delivered a presentation in the session entitled, “Advances in System-level Modeling and Analysis in Manufacturing Towards Sustainability.” His talk entitled “Concept of Error Compensation for Non-orthogonality in Two-Axis Displacement Measurement System Utilizing Single Grating Scale and Littrow Configuration,” drew several questions from the audience and discussions continued after the presentation where he had the opportunity to become acquainted with professors from other institutions. Although it was his first time participating in MSEC, he found it to be an excellent opportunity to build connections with researchers at universities around the world as well as in the U.S. After the conference, he visited the University of Florida in Gainesville to visit laboratories in the Department of Mechanical and Aerospace Engineering. He engaged with several professors and had stimulating discussions about potential collaborations. The FUTI Travel Award is open to non-tenured, early-stage scholars at the University of Tokyo. Undergraduates, graduate students, and postdoctoral fellows are not eligible. Eligible fields include Natural Science: e.g., Medical, Biology, Public Health, Engineering, Chemistry, Physics, Data Science, Information and technology; STEM-eligible Social Science subjects (broadly defined): e.g., Quantitative Political Science, Economics, and Quantitative Approach to Public Policy. This award provides support for a short-term stay of less than 30 days for attending an international conference of small size (no more than about 300 participants where conference participants stay and have meals together in a small venue) and to conduct a side visit to colleagues at academic institutions. * This article is based on the reports submitted by the applicants. For details of the program and recipients’ reports, visit friendsofutokyo.org/futitravelaward

Report on the Annual Online Gathering of Mid- to Long-Term Scholarship Recipients

The annual online gathering for mid- to long-term scholarship recipients was held on December 6, 2025, at 8:00 PM ET. The purpose of the meeting was to foster a friendly and informal exchange of experiences and opinions among awardees, as well as with representatives from donor foundations, FUTI, and UTokyo members. The meeting was attended by ten mid- to long-term scholarship recipients for Year 2025-26, along with Ms. Asuka Sakai, Senior Director of the UTokyo Division of External Relations; Dr. Yuichiro Kuwama, FUTI Vice President and CFO; Dr. Masaaki Yamada, FUTI Advisory Committee Chair; and members of the FUTI Scholarship Committee: Nobuko Sakurai, Shig Matsushita, Iwao Ojima, Masako Osako, and Junji Takegami. The meeting was chaired by Nobuko Sakurai, Chair of the FUTI Scholarship Committee, who opened with a brief greeting and expressed her gratitude to all attendees. Following her introduction, Iwao Ojima, FUTI President and CEO, delivered a welcome message and provided some thoughts on the current state of the world. The meeting continued with short presentations from each scholarship recipient, followed by Q&A sessions. These presentations highlighted the challenges, inspirations, discoveries, and fulfillment experienced by the scholars during their studies in the US. A summary of select presentations is provided below. [Comments from a graduate of UTokyo’s Graduate School of Public Policy, currently pursuing a Masters in Regional Studies at Harvard University] A Ukrainian Master’s student at Harvard, who graduated from the University of Tokyo Graduate School of Public Policy, is concentrating his academic work on Ukraine’s economic development and international cooperation, particularly focusing on quantitative analysis, law, and policymaking. The student actively uses his studies to provide analytical insights to Ukrainian Members of Parliament, contributing directly to international security discussions, including those at the OSCE (Organization for Security and Co-operation in Europe). Post-graduation, the student plans to join the Ministry of Economy of Ukraine with the goal of fostering a strategic, long-term partnership between Ukraine and key international partners, especially Japan, whose critical budgetary support is highly valued. The student argues that Ukraine’s highly experienced military would be vital to European security, proposing that EU membership would serve as a crucial shield for the continent. [Comments from a graduate of UTokyo PEAK, currently a graduate student at Columbia University School of International and Public Affairs) As a second-year graduate student at Columbia University’s School of International and Public Affairs (SIPA), the student is specializing in international finance and economic policy to bridge the financial gap between the US and Japan. Her academic rigor includes coursework in financial risk management, monetary policy, and Japanese economic policy, supplemented by supporting programming at the Columbia Center of Japanese Economy and Business. Beyond the classroom, the student has aggressively pursued practical experience through multiple internships, including a role at Eurasia Group focusing on geopolitical risk and a long-term position with the U.S.-Japan Council, where she helps organize high-level economic summits and initiatives for young women in banking. This student is also involved in advocating for student safety and networking opportunities amidst a contentious campus climate at Columbia at present. The students at the gathering delivered compelling presentations, offering candid insights into how their academic experiences in the US differ from those at the University of Tokyo. The research topics spanned a wide range of disciplines including Pharmaceutical Science, Mathematics, and Design and Technology, each with promising practical applications that are sure to benefit society in the years to come.

Dialogue with President Fujii on the University of Tokyo’s New Initiative, ‘College of Design’

On September 4, 2025, with the support of Friends of UTokyo, Satsukikai America hosted a gathering at the University of Tokyo’s New York office for an opportunity to   dialogue with President Fujii about the University of Tokyo’s New Initiative: College of Design’ Over 20 participants gathered, representing a wide range of ages and specialties. In April 2025, the University of Tokyo announced that it will open a new faculty, the UTokyo College of Design, the first new faculty in approximately 70 years since the founding of the Faculty of Pharmaceutical Sciences in 1958. Preparations are currently underway for its opening in the fall of 2027. At the gathering, President Fujii spoke about the purpose and vision of the UTokyo College of Design, as well as the aspirations behind it. The Q&A session was lively. Below is a summary of the event. (For details about the College of Design, please refer to the official website: design.adm.u-tokyo.ac.jp) Highlights of President Fujii’s Remarks • Educational Philosophy: Based on interdisciplinary education, we hope to cultivate leaders with “design thinking” and the ability to realize their visions coordinating knowledge from various disciplines. • Learning Process: Designing and implementing solutions to complex social issues requires proactive processes, such as connecting and empathizing with people and society, conceiving a new vision, creating “prototypes” to be tested in the real world, and capitalizing on diverse opinions generated through teamwork. The College of Design intends to facilitate these actions through providing these learning opportunities. • College Environment:  UTokyo aims at creating an environment in which our faculty, who represent the forefront of knowledge and colleagues and students coming from around the world, inspire each other and grow together. Participants expressed interest in a range of topics, including the expansion of undergraduate courses taught in English, collaboration with overseas universities and the New York office, recruitment of international faculty, and new perspectives on the concept of academic discipline. These questions reflected a broader concern with the internationalization of education and evolving approaches to learning. Further discussion centered on challenges such as securing funding to advance interdisciplinary research, attracting and retaining outstanding talent, supporting students’ career development, and strengthening the role of alumni networks. Overall, the exchanges highlighted the participants’ strong interest in the university’s comprehensive approach to international engagement that spans education, research, and career support. In closing, Dr. Mina Tsuji, President of Satsukikai America explained that the participation fee of $15 for this event will be donated to the University of Tokyo’s 150th Anniversary Commemorative Fund. The alum association hopes to continue supporting the 150th Anniversary project by using the participation fee. (Reference: Information on the University of Tokyo 150th Anniversary Commemorative Fund | University of Tokyo Foundation) Translation: by Satsukikai America Note: We would like to express our sincere appreciation for the support of the President’s Office of the UTokyo as well as UTokyo NY Office.

Lecture supported by University Management Visionary Development Project of UTokyo

Adapted from UTokyo NY Office website On September 3, 2025, a lecture event was held at UTokyoNY as a part of the Ochanomizu University’s 150th Anniversary University Management Visionary Development Project, commemorating the 150th anniversary of Ochanomizu University. This project aims to foster female leadership in university management, promote DEI (Diversity, Equity, and Inclusion) in higher education, and cultivate role models among female researchers and students. It also seeks to build social capital across institutions and disciplines. This lecture event was organized with the support of the University of Tokyo. The event began with opening remarks by President Sasaki of Ochanomizu University, which highlighted the philosophy and significance of the project. Next, Mr. Satoshi Miura, President of JETRO (Japan External Trade Organization) New York, delivered a lecture. He introduced JETRO’s activities and discussed the expansion of Japanese companies in the U.S., efforts to build relationships with local communities, and the organization’s support for collaboration with universities. Following this, Mr. Hiroyuki Nakashima, the Resident Executive Officer and Regional Head for the Americas of JBIC (Japan Bank for International Cooperation), spoke about JBIC’s role as a policy-based financial institution. He addressed geopolitical risks, support for securing resources, and efforts toward global environmental conservation. Professor Merit Janow, Dean Emerita of School of International and Public Affairs, Columbia University, then spoke about the advancement of women in higher education in the U.S. and around the world. While female enrollment rates have risen globally, she pointed out that gender imbalances persist in STEM fields and among university leadership. Emphasizing the need for institutional reform and cultural transformation to advance gender equity in academia, she left a vivid impression on the participants. The event concluded with closing remarks by President Fujii of the University of Tokyo, in which he referred to the significance of the relationships across institutional boundaries cultivated through this project. Participants included nine female faculty members who were selected as fellows from Ochanomizu University, Kyoto University, and the University of Tokyo, along with executives and representatives from each institution. The lectures were followed by a lively networking session, which further deepened the exchange among participants.

In Memoriam: Former FUTI Director Prof. Takatoshi Ito

Professor Takatoshi Ito, former director of the Friends of UTokyo, passed away on September 20, 2025 (U.S. time) at the age of 74. Professor Ito served as a professor at Columbia University’s School of International and Public Affairs (SIPA) and was a globally renowned scholar in the fields of macroeconomics and international finance. He served on the FUTI Board as the Director of Academic Affairs, dedicating himself to nurturing the next generation through initiatives such as establishing the FUTI Travel Award to support young researchers, and presenting lectures. As a role model who played an active part in the international community, he had a profound influence on many young people. We mourn his passing and offer our sincere condolences. Professor Ito was born in Hokkaido in 1950. After graduating from Junior and Senior High School at Komaba affiliated with University of Tsukuba, he entered Hitotsubashi University. He earned his bachelor’s degree (1972) and master’s degree (1975) at Hitotsubashi University before obtaining his Ph.D. from Harvard University (1979). He subsequently held leadership roles at the University of Minnesota, Hitotsubashi University, the University of Tokyo (Center for Advanced Science and Technology, Graduate School of Economics, Graduate School of Public Policy), and the National Graduate Institute for Policy Studies. He was the  Professor Emeritus at the University of Tokyo and Hitotsubashi University since 2014. He assumed the position of Professor at Columbia University’s SIPA in January 2015. Prof. Ito’s contributions to administration and policy were extensive. In Japan, he served as Director-General of the International Bureau at the Ministry of Finance (Senior Vice Minister for International Affairs) and as a member of the Council for Economic and Fiscal Policy under the Prime Minister. Internationally, he served as Senior Advisor at the International Monetary Fund (IMF) and played an important role at organizations such as the World Economic Forum. His numerous books and papers that exceed 250 publications demonstrate  his exceptionally distinguished scholarly achievements. He was awarded the Japanese Medal of Honor with Purple Ribbon in 2011 and the Order of the Sacred Treasure, Gold Rays with Rosette in 2024. For those of us left behind, we are acutely aware of the immense void left by his absence. We intend to cherish and carry forward the sentiments he held for Friends of UTokyo and for the next generation, and to further their development.  Below this note, we are sharing comments from colleagues who had received guidance and inspiration from Professor Ito. Comments from Iwao Ojima, FUTI President Professor Ito joined Friends of UTokyo as an advisory committee member in 2018 during the tenure of former President Yamada and was appointed as the Director of Academic Affairs the following year in 2019. As a world-renowned scholar in economics, he served as a bridge between the University of Tokyo and Columbia University, and between the Japanese and US economies. He always provided invaluable insights at FUTI Board meetings regarding how to cultivate the next generation of leaders. In recent years, he devoted significant effort to establishing the “FUTI Travel Award” supporting young scholars in academia. This spring, he was active at the University of Tokyo’s premier institution, Tokyo College, supporting President Fujii’s ambitious “College of Design” vision. I was truly shocked to receive the news of his passing. He was a warm-hearted gentleman whose sharp insight and eloquence inspired others. His absence leaves a profound void. We offer our deepest condolences and prayers for his eternal rest. Comments from Junji Takegami, FUTI COO Professor Takatoshi Ito brought his signature wit, intellectual agility, and boundless curiosity to everything he touched, including his work with Friends of UTokyo. He was instrumental in creating the FUTI Travel Award, a visionary program that continues to empower early-career scholars to build global academic networks. His light-footed brilliance and deep commitment to international exchange shaped the award, and we hope to grow it into a lasting legacy of opportunity and connection. I am deeply saddened by his passing, and profoundly grateful to have shared in this meaningful work with him. Comments from Masaaki Yamada, FUTI Advisory Committee Chair Professor Takatoshi Ito made countless and profound contributions to the field of economics in both Japan and the United States. His passing, at a time when even greater achievements were anticipated, is a tremendous loss to the academic community. For FUTI as well, Professor Ito was an irreplaceable figure. When I invited him to join the FUTI Board of Directors a few years ago, he graciously accepted, despite his demanding professional commitments. As a board member, he provided invaluable guidance and broad perspectives that strengthened our organization. In particular, within FUTI’s core scholarship program, Professor Ito worked closely with Director Koide to establish a new framework supporting travel grants for promising young researchers attending international conferences. Thanks to his integrity, wisdom, and dedication, this initiative was successfully launched and managed with great care. He also delivered numerous engaging and insightful lectures that deepened our understanding of Japan’s place within the global economy, leaving us with lasting intellectual inspiration. We are deeply saddened by his untimely passing and extend our heartfelt condolences. His warmth, intellect, and leadership will long be remembered with deepest respect and gratitude. Comments from Masako Osako, FUTI Director of Public Relations Professor Ito was one of the most popular speakers in FUTI’s lecture series, hosted by its Public Relations team. He consistently addressed timely topics, such as “The Political Situation and Economic Policy Challenges After the Japanese General Election” (2017) and “Challenges for the Japanese Economy: Low Birthrate and Aging Population, Fiscal Sustainability, and Geopolitical Risks” (2025), presenting them in a clear and engaging manner, easily accessible even to those outside his field of expertise. His talks were always exceptionally well-received. Each year, students from the University of Tokyo visit New York as part of the “Experience Activities Program.” During these visits, about ten students had the opportunity to visit Professor Ito’s department at Columbia University and listen to him speak about his career and experiences. When students asked questions…
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Obituary for Dr. Takatoshi Ito

Written for Friends of UTokyoRay Iwazumi, D.M.A.November 14, 2025 During our violin lessons, my conversations with Taka (as he preferred to be called) were almost always exclusively in English. This was mostly by my insistence, as I personally find that nuances in the Western classical music tradition are comparatively easier to detail in Western languages than in Japanese. But once outside of the lesson, our conversations would be in Japanese. Here, we would invariably call each other, sensei, if we ever needed to. But, as the Japanese language goes (and our context almost always being private and not work-related, so to speak) we rarely needed to address each other. I preface my memories of Taka this way, because, as others who live in bi-cultural dynamics may understand, the sense of interpersonal distance can vary depending on linguistic nuances. As Taka’s violin teacher, I had the privilege to guide Taka in his violin studies almost every week. Despite his extremely busy schedule, and regardless of whether he or I might be in New York or Tokyo or somewhere else, we would find an hour-plus of time for a lesson. Given our variabilities in terms of location, we would often meet via Zoom. And for every lesson, invariably, Taka would be prepared. Taka was serious about playing the violin and I understood this commitment through his eagerness and preparation. I do not exaggerate when I say that the technical and musical challenges I outlined for him during our lessons were often significant. By my estimate, considering the pace and progress he was making, Taka was probably dedicating at least 8 to 12 hours of energetic, attentive, and disciplined practice per week.  For an older adult, this is a serious physical, mental, and psychic commitment. Our mutual joy and reward was that the pieces he played became noticeably more fluid by the week. And that element that cannot be taught — artistic will — would speak ever more clearly through his playing. Taka was an artist. You could tell in his playing that he intuitively felt the potential message contained in a musical work. And like all true artists, he had vision and the desire to communicate something valuable and intangible to others. Early on in Taka’s studies with me, he told me that if he could play any piece, it would be to play Beethoven’s Kreutzer violin-piano sonata and Bach’s solo violin “Ciaccona” (Chaconne) from the Partita in D minor. Both works are known as pinnacles of the violin literature, and are tremendously demanding for their technical, musical, and physical stamina requirements. He knew they were a bit too much to try out at his level of training, and typical of the Japanese cultural norm of modesty, he added that he didn’t expect to get to play them. Yes, Taka certainly wasn’t ready then to take on either Kreutzer or the Chaconne. But I could feel the genuine wish paired with a strong ambition. And from the commitment he was already demonstrating, I intuitively knew it could be possible for him to get to study these works. Having thus these towering monuments to aim for, we began a plan to steadily march toward the goal of playing Kreutzer and the Chaconne. Once we set our long-term goal, I began to remind him (and myself) from time to time that each step we were taking was building up the skills, strength, and experience needed for the meaningful study of Kreutzer and the Chaconne. Our lessons became more rigorous. I also intentionally became quite strict with technical and artistic discipline. At first, Taka was slightly resistant to the demands. But as we focused on only a few things at a time and mixed in some musical variety, we found a manageable pace and started to see results. He then became more and more curious about how violin technique worked and the musical reasons for choosing one type of nuance over another. Often, Taka would ask about the background and history of a certain piece, technique, or a playing style. While I discussed and demonstrated, Taka would listen carefully and ask questions. He would then step out on his own to research, listen to recordings, or go to concerts, and then, come back in a week or two with a verbal report of what he had listened to or found out, along with more questions. He loved understanding context and cultural nuance. Coming from his own intensive practicing, I think he also enjoyed noticing subtle details in the different interpretations he listened to. He would seek to understand why one artist might approach the same piece so differently from another. Taka relished seeing how tone and interpretation differences could be realized through harnessing different playing techniques and phrasing patterns. It was enjoyable, and in a sense, straightforward, to guide Taka because he was looking for that special something. My role was to present what I knew in what he was seeking, and to point him toward resources when I didn’t. And when it became his turn to try things out on his violin, he would sometimes preface before playing, “I understand what is supposed to happen, but I still cannot make it happen.” To his credit, he did understand what was supposed to happen; and this allowed him to come closer and closer to what he was trying to express. This past 26th of October, pianist, Junko Ichikawa and I held a recital at the Blue Building in New York City. Taka would have enjoyed hearing this concert. Junko had been assisting our lessons, and as I demonstrated matters of ensemble with Junko’s help, he mentioned that he would enjoy hearing us in concert. In fact, the last time I had seen Taka in person was in late February, when he made a recording of Dvořàk’s Sonatina for violin and piano to finish his study of that piece, with Junko-san at the piano. After finishing, he had joked that he would like to have…
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A Tribute to Takatoshi Ito

By Koichi Hamada, Professor Emeritus, Yale University; Professor Emeritus, The University of Tokyo I was stunned by the news of the demise of Columbia University Professor Takatoshi Ito. He was one of the contributors to Project Syndicate, the international forum that carries opinion pieces by leading economists and public intellectuals. Upon graduation from college, he was offered a position by the allegedly most prestigious employer in Japan, that is, the Ministry of Finance. However, he chose to become an academic. I met him for the first time when, unusually for those days in Japan, he came from Hitotsubashi University to present his research ideas to faculty at the University of Tokyo, including Katsuhito Iwai and Masahiro Okuno (Fujiwara). I have even forgotten his specific research topic, but I was strongly impressed by his positive attitude toward research and communication. He then pursued his Ph.D. at Harvard under Kenneth Arrow. I remember him discussing the esoteric subject of proving the existence of non-perfect competitive equilibrium. Later he co-authored articles with Robert Engle, a Nobel Laureate. When I was assisting the Koizumi Government, I had discussions with him, sometimes together with Kazuo Ueda, the present BOJ Governor. Takatoshi later became a proponent of the “inflation target” policy against the stagnant Japanese economy, but his belief in a balanced or sound government budget remained firm. In his personal life, he loved music. His violin playing, which I once heard at the University of Tokyo, was of professional quality, according to his violin teacher, Dr. Ray Iwazumi. When I was caught by clinical depression in New Haven, he came to visit my house to console me and even listened to the children’s songs I had composed. I feel I owe him a lot. In the past ten years, he had been teaching in the United States, partly under my influence, he said. He wanted to stay in New York in order to enjoy more repertoires at the MET. Scott Bessent jokingly talked about my meeting with George Soros, his former boss, at the Mory’s Club in New Haven. In fact, I remember that Takatoshi introduced me to Soros again. Soros proposed to me that we should adopt Helicopter Money. This was even stronger than Modern Monetary Theory. I could not agree with him: “It would invoke outright inflation.” Even after I embraced the doctrine of “Functional Finance” by Abba Lerner, that a budget deficit should be evaluated by its exact effect on the economy, the “helicopter money” idea was too extreme and dangerous. My reaction was right. In this perspective, the Balanced Budget doctrine was, in my view, wrong, but in this sense it could be counted as a guard against inflation. In the Zoom meeting prepared by Masako Osako of FUTI, where I met him last, our conversation ended with a disagreement between his balanced-budget argument and my Lerner view. I now feel I could have been more conciliatory.

Launch of “The Prof. Ito Memorial Lecture Series: Featuring Early-Stage Professionals”

FUTI is pleased to announce the launch of The Prof. Ito Memorial Lecture Series: Featuring Early-Stage Professionals, a new online lecture and dialogue initiative. This series aims to spotlight promising early-stage professionals and to provide younger generations of FUTI alumni with opportunities to learn from their work, perspectives, and career experiences. Through open dialogue and intellectual exchange, the series seeks to inspire, connect, and strengthen the FUTI community across generations and disciplines. FUTI currently operates several programs that support early-career scholars and foster engagement among international alumni. Since 2022, the FUTI Fireside Chat Series, hosted by FUTI Director of International Alumni Programs, Geeta Mehta, has offered a welcoming forum for international alumni of the University of Tokyo to share their professional journeys. In addition, FUTI’s Travel Award program has played a key role in supporting emerging researchers at critical stages of their careers. Building on these initiatives, the FUTI Event Team has proposed a new annual lecture and dialogue series to further advance FUTI’s mission. This series also honors the legacy of the late Prof. Takatoshi Ito, whose career was marked by a deep commitment to mentoring and supporting young professionals and scholars. By highlighting early-stage professionals across diverse fields, The Prof. Ito Memorial Lecture Series will complement existing FUTI programs while expanding opportunities for alumni engagement and inspiration. (For more on Prof. Ito’s legacy, please see: https://www.friendsofutokyo.org/en/in-memoriam-former-futi-director-prof-takatoshi-ito/ With more than 300 scholarship recipients, FUTI alumni represent a rich and diverse pool of potential speakers. The inaugural lecture will feature Dr. Yuki Haba, an award-winning evolutionary biologist and Leon Levy Scholar in Neuroscience at Columbia University’s Zuckerman Mind Brain Behavior Institute. Scheduled for January 23, 2026, Dr. Haba’s talk will officially launch the Prof. Ito Memorial Lecture Series. While FUTI alumni will form a core group of speakers, future participants need not be FUTI award recipients. Speaker recommendations may be sent to us  from members of FUTI’s Board of Directors and Advisory Committee, as well as from other supporters. Candidates need not be researchers.  Professionals from a wide range of fields including humanitarian work and international organizations such as the United Nations, ILO, or WHO, will also be considered. Through this lecture series, FUTI aims to celebrate excellence, promote cross-generational learning of UTokyo and FUTI alumni, and carry forward Prof. Ito’s enduring commitment to nurturing the next generation of global professionals. FUTI Event Team