On July 17, 2026, Friends of UTokyo (FUTI) held the second Professor Takatoshi Ito Memorial Lecture, featuring Jeffrey Miyamoto, Investment Analyst at Orbis Investments. His presentation, entitled “Asia’s Emerging Arms Makers: India, Korea, and Japan,” examined the changing landscape of the defense industry in Asia.
Mr. Miyamoto earned his bachelor’s degree from the University of Nevada before completing a Master of Public Policy (MPP) at the University of Tokyo’s Graduate School of Public Policy (GraSPP), where he studied under Professor Takatoshi Ito. He later received both a Juris Doctor (JD) and an MBA from Yale University. He is currently engaged in global equity investment analysis.
Mr. Miyamoto began by explaining how the global security environment has changed dramatically since Russia’s invasion of Ukraine, bringing renewed attention to the defense capabilities of countries around the world. He noted that while defense production capacity in many Western countries had declined during the decades following the end of the Cold War, India, South Korea, and Japan maintained their industrial bases, positioning them to become increasingly competitive in today’s market environment of heightened international demand.
He then discussed how each country has pursued a distinct strategy for developing its defense industry. In India, government policies promoting domestic production have strengthened indigenous manufacturing. South Korea has emphasized export-driven growth, while Japan has expanded its defense industry through major shifts in national security policy and increased defense spending. Despite these different approaches, Mr. Miyamoto emphasized a common trend: “security policy is becoming intertwined with industrial policy.”
From an investor’s perspective, he also explained how geopolitical developments and policy changes can have lasting effects on corporate values. Through numerous examples, he illustrated the importance of understanding politics, national security, and industrial policy together when evaluating long-term investment opportunities.
The lecture was followed by a lively question-and-answer session covering topics such as the future of Japan’s defense industry and evolving defense policies across Asia. Participants gained valuable insights into how changes in international politics and security are shaping economic development and corporate strategy from multiple perspectives.
A particularly memorable aspect of this year’s event was the participation of alumni of GraSPP (Graduate School of Public Policy at The University of Tokyo) from around the world who had studied alongside Mr. Miyamoto under Professor Ito. They shared personal memories of Professor Ito, creating a warm and meaningful atmosphere that was especially fitting for a memorial lecture. We are deeply grateful to the GraSPP alumni community for their assistance in promoting this event.
FUTI will continue to organize lectures featuring distinguished speakers at the forefront of their fields, addressing a wide range of topics including public policy, international affairs, and economics. We look forward to welcoming you to our next event.
Mr. Jeffrey Miyamoto Bio:
Jeffrey Miyamoto is an investment analyst at Orbis Investments, an asset management firm based in Bermuda, where he has worked for the last seven years. He received his MPP from the University of Tokyo in 2014 from the Graduate School of Public Policy where he studied under late Professor Takatoshi Ito. He graduated with a BA in history at the University of Nevada, Las Vegas in 2011 and received his JD/MBA from Yale University in 2019.
References:
Jeffrey Miyamoto: https://www.orbis.com/au/investor/insights/commentaries/quarterly/2023/q1/international
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FUTI Staff