With more than 1 trillion ($7.96 billion) already issued year-to-date and 3 trillion (about $23 billion) expected for the year, the Japanese securitization markets are getting more and more fertile perhaps not by leaps and bounds, but certainly by fits and starts, sources say.

Market observers often draw parallels between the burgeoning market and its European counterpart, which finally took off a couple of years ago after issuers learned the benefits of securitization from balance-sheet management. Similarly, the Japanese market is now growing rapidly in certain segments, especially in the CMBS and the consumer-loan sectors.

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