Japan’s Journey in the "Unlocking IP-backed Financing Series" presents an overview of how IP-backed financing is gaining traction as a strategy for many SMEs in Japan without fixed assets. To this end, government initiatives have been developed to educate IP owners, as well as financial institutions, on understanding IP assets and their critical role in driving businesses. This involves going beyond a quantitative approach and solely focusing on their value in the balance sheets, but also complementing it with a qualitative assessment how the IP is driving businesses.