It is the first time the island has turned to the bond markets for its long-term capital.
That was the first time since 1980 that Japan imported more long-term capital than it sent abroad.
About a third of all long-term capital gains taxes are paid by fewer than 13,000 taxpayers each year.
Because the enterprise rests exclusively on one person, it often has difficulty raising long-term capital.
As shareholders, employees provide a source of patient, long-term and interested capital.
"We should be encouraging companies to be funded with solid, long-term capital."
Despite the Fed's efforts, long-term capital is not getting less expensive.
But some economists say Japan's importing of long-term capital has not been a problem and will not become one.
The state provides all the long-term capital construction budget.
This effectively reduced the top capital gains tax rate on a long-term capital good held for over 1 year from 28% to 20%.