Updated on 2026/03/13

写真a

 
MATSUMOTO TAKUJI
 
Organization
School of Environment and Society Associate Professor
Title
Associate Professor
Homepage
https://www.matsumoto-lab.isc.ens.isct.ac.jp/en
Profile
A Special Issue in Sustainability on "Sustainable Energy Systems & Markets" is open for submissions (forecasting, risk management, market design, DER integration, optimization, investment).
Call: https://www.mdpi.com/journal/sustainability/special_issues/O73412RYC0
External link

Degree

  • Ph.D. in Business Administration ( 2020.8   University of Tsukuba )

  • S.M. in Technology and Policy ( 2012.6   Massachusetts Institute of Technology )

  • B.Eng. ( 2005.3   The University of Tokyo )

Research Interests

  • Financial Engineering

  • Energy Finance

  • Weather Derivatives

  • Risk Management

  • Time Series Analysis

  • Energy Economics

  • Electricity Markets

  • Forecasting

Research Areas

  • Social Infrastructure (Civil Engineering, Architecture, Disaster Prevention) / Social systems engineering  / Operations Research, Data Science, Risk Management

  • Humanities & Social Sciences / Business administration  / Finance, Energy Finance, Financial Engineering

Education

  • University of Tsukuba   Graduate School of Business Sciences

    2017.4 - 2020.8

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    Country： Japan

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  • Massachusetts Institute of Technology   Technology and Policy Program

    2010.9 - 2012.6

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    Country： United States

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  • The University of Tokyo   School of Engineering

    2001.4 - 2005.3

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Research History

  • Institute of Science Tokyo   School of Environment and Society - Technology and Innovation Management / Department of Innovation Science   Associate Professor

    2025.4

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  • Kanazawa University Graduate School of Human and Socio-Environmental Studies   Division of Economics   Associate Professor

    2024.4 - 2025.3

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    Country：Japan

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  • Kanazawa University   Faculty of Transdisciplinary Sciences for Innovation   Associate Professor

    2022.4 - 2025.3

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    Country：Japan

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  • Central Research Institute of Electric Power Industry   Socio-Economic Research Center   Research Scientist

    2020.4 - 2022.3

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    Country：Japan

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  • London Business School   Visiting PhD Student (JSPS Overseas Challenge Program for Young Researchers)

    2019.10 - 2020.2

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    Country：United Kingdom

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  • Mitsubishi Research Institute   Senior Researcher

    2015.4 - 2019.9

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  • Cabinet Secretariat, Japan

    2013.12 - 2015.3

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  • Board of Audit, Japan

    2005.4 - 2013.11

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Professional Memberships

  • Japan Association of Real Options and Strategy

    2025.9

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  • The International Association for Energy Economics (IAEE)

    2023.5

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  • International Institute of Forecasters (IIF)

    2021.4

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  • IEEE

    2020.2

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  • INFORMS

    2019.9

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  • The Japanese Association of Financial Econometrics and Engineering (JAFEE)

    2017.12

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  • The Operations Research Society of Japan

    2017.10

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Committee Memberships

  • MDPI / Sustainability   Guest Editor  

    2025.9   

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    Committee type：Academic society

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  • 2026 16th International Conference on Power, Energy and Electrical Engineering (CPEEE 2026)   Technical Program Committee  

    2025.6   

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    Committee type：Academic society

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  • Energy Informatics.Academy Conference 2025 (EI.A 2025)   Program Committee  

    2025.1 - 2025.12   

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    Committee type：Academic society

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  • 2025 15th International Conference on Power, Energy and Electrical Engineering (CPEEE 2025)   Technical Program Committee  

    2024.6 - 2025.2   

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    Committee type：Academic society

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  • 2024 14th International Conference on Future Environment and Energy (ICFEE 2024)   Technical Program Committee  

    2024.1 - 2024.3   

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    Committee type：Academic society

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  • 2024 14th International Conference on Power, Energy and Electrical Engineering (CPEEE 2024)   Technical Program Committee  

    2023.10 - 2024.2   

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    Committee type：Academic society

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  • Green and Low-Carbon Economy (Bon View Publishing)   Reviewer Board  

    2023.1   

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  • 2023 13th International Conference on Power, Energy and Electrical Engineering (CPEEE 2023)   Technical Program Committee  

    2022.5 - 2023.2   

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    Committee type：Academic society

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  • 2023 13th International Conference on Renewable and Clean Energy (ICRCE 2023)   Technical Program Committee  

    2022.5 - 2023.2   

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    Committee type：Academic society

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  • IEEE 2022 12th International Conference on Power, Energy and Electrical Engineering (CPEEE 2022)   Technical Program Committee  

    2021.4 - 2022.2   

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    Committee type：Academic society

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  • 2022 12th International Conference on Renewable and Clean Energy (ICRCE 2022)   Technical Program Committee  

    2021.4 - 2022.2   

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    Committee type：Academic society

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  • IEEE 2021 11th International Conference on Power, Energy and Electrical Engineering   Technical Program Committee  

    2020.12 - 2021.2   

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    Committee type：Academic society

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Papers

  • Price Transmission from Bitcoin to Altcoins: High-Frequency Evidence and Implications for Trading Strategy Reviewed International journal

    Tomoki Kurihara, Takuji Matsumoto

    Asia-Pacific Financial Markets   2026.3

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    Authorship：Corresponding author   Language：English   Publishing type：Research paper (scientific journal)  

    This study investigates the lagged price transmission from Bitcoin (BTC) to altcoins (ALT) using high-frequency data and empirically validates trading strategies that leverage these market inefficiencies. Our comprehensive analysis across multiple market regimes reveals that small-cap cryptocurrencies exhibit significant delayed responses to BTC price movements. To examine this behavior, we introduce a simple indicator of immediate price responsiveness and find that lower liquidity tends to be associated with slower reactions. Granger causality tests further demonstrate unidirectional Granger-causal relationships from BTC to altcoins. Based on these findings, we develop a lag trading strategy using BTC's preceding returns as a leading indicator. Through machine learning-based trading decisions, our strategy consistently outper-forms traditional buy-and-hold approaches across diverse market conditions. This research provides evidence of information transmission frictions in cryptocurrency markets and demonstrates the viability of practical investment strategies that leverage short-term anomalies. Our findings offer value to high-frequency and arbitrage traders while contributing new academic insights to the literature on cryptocurrency market microstructure.

    DOI： 10.1007/s10690-026-09589-z

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  • Robust Battery Arbitrage Against Prediction Noise and the “Curse of Optimization”

    Takuji Matsumoto, Katsunobu Sasanuma

    Abstracts of the 2026 Spring National Conference of the ORSJ   1 ( 2 )   2026.3

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    Authorship：Lead author,　Corresponding author   Language：Japanese   Publishing type：Research paper (conference, symposium, etc.)   Publisher：The Operations Research Society of Japan  

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  • Advancing financial instruments and market trading framework for local solar power hedging with principal component derivatives Reviewed International journal

    Takuji Matsumoto, Yuji Yamada

    Energy Economics   108821   2025.8

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    Authorship：Lead author   Language：English   Publishing type：Research paper (scientific journal)   Publisher：Elsevier BV  

    DOI： 10.1016/j.eneco.2025.108821

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  • Hedging Methods for Shape Risk in Renewable Energy Markets - Empirical Analysis of Hedging Effectiveness Using QF Indexes -

    Takuji Matsumoto, Yuji Yamada

    Proceedings of the 62th JAFEE winter conference   1 - 12   2025.2

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    Authorship：Lead author,　Corresponding author   Language：Japanese   Publishing type：Research paper (conference, symposium, etc.)  

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  • Risk Management Modeling for Electricity Market Trading in the New Era Invited

    Takuji Matsumoto, Yuji Yamada

    SYSTEMS, CONTROL AND INFORMATION   68 ( 12 )   468 - 473   2024.12

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    Authorship：Lead author,　Corresponding author   Language：Japanese   Publishing type：Part of collection (book)   Publisher：The Institute of Systems, Control and Information Engineers  

    DOI： 10.11509/isciesci.68.12_468

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  • Electricity Price Forecasting with Principal Component-Guided Sparse Regression Reviewed International coauthorship International journal

    Takuji Matsumoto, Florian Ziel

    Proceedings of 20th International Conference on the European Energy Market (EEM 2024)   29   1 - 6   2024.6

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (international conference proceedings)   Publisher：IEEE  

    DOI： 10.1109/eem60825.2024.10609019

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    Other Link： https://drive.google.com/file/u/0/d/1C5Zew0ZevRnDDUwtgpLpKBllUN1eH8bG/view

  • Efficient Risk Management for Distributed Clean Energy: Principal Component based Weather Derivatives Invited Reviewed International journal

    Takuji Matsumoto, Yuji Yamada

    E3S Web of Conferences   530   05005   2024.5

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (international conference proceedings)   Publisher：EDP Sciences  

    DOI： 10.1051/e3sconf/202453005005

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  • Principal Component Quanto Derivatives for Enhanced Solar Power Hedging

    Takuji Matsumoto, Yuji Yamada

    Proceedings of the 60th JAFEE winter conference   1 - 12   2024.2

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (conference, symposium, etc.)  

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  • Multivariate Weather Derivatives for Wind Power Risk Management: Standardization Scheme and Trading Strategy Reviewed International journal

    Takuji Matsumoto, Yuji Yamada

    Environmental Science and Engineering   269 - 280   2023.12

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (international conference proceedings)   Publisher：Springer  

    DOI： 10.1007/978-3-031-43559-1_26

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  • Optimal Arbitrage with Limit Orders in Day-Ahead Electricity Markets International coauthorship International journal

    Takuji Matsumoto, Derek Bunn

    Proceedings of 18th IAEE European Conference   2023.7

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (international conference proceedings)   Publisher：International Association for Energy Economics  

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  • Construction of Mixed Derivatives Strategy for Wind Power Producers Reviewed International journal

    Yuji Yamada, Takuji Matsumoto

    Energies   16 ( 9 )   3809   2023.4

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    Authorship：Corresponding author   Publishing type：Research paper (scientific journal)   Publisher：MDPI AG  

    Due to the inherent uncertainty of wind conditions as well as the price unpredictability in the competitive electricity market, wind power producers are exposed to the risk of concurrent fluctuations in both price and volume. Therefore, it is imperative to develop strategies to effectively stabilize their revenues, or cash flows, when trading wind power output in the electricity market. In light of this context, we present a novel endeavor to construct multivariate derivatives for mitigating the risk of fluctuating cash flows that are associated with trading wind power generation in electricity markets. Our approach involves leveraging nonparametric techniques to identify optimal payoff structures or compute the positions of derivatives with fine granularity, utilizing multiple underlying indexes including spot electricity price, area-wide wind power production index, and local wind conditions. These derivatives, referred to as mixed derivatives, offer advantages in terms of hedge effectiveness and contracting efficiency. Notably, we develop a methodology to enhance the hedge effects by modeling multivariate functions of wind speed and wind direction, incorporating periodicity constraints on wind direction via tensor product spline functions. By conducting an empirical analysis using data from Japan, we elucidate the extent to which the hedge effectiveness is improved by constructing mixed derivatives from various perspectives. Furthermore, we compare the hedge performance between high-granular (hourly) and low-granular (daily) formulations, revealing the advantages of utilizing a high-granular hedging approach.

    DOI： 10.3390/en16093809

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  • Improving the Efficiency of Hedge Trading Using Higher-Order Standardized Weather Derivatives for Wind Power Reviewed International journal

    Takuji Matsumoto, Yuji Yamada

    Energies   16 ( 7 )   3112   2023.3

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (scientific journal)  

    DOI： 10.3390/en16073112

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  • Mitigation of the Inefficiency in Imbalance Settlement Designs Using Day-Ahead Prices Reviewed International coauthorship International journal

    Takuji Matsumoto, Derek Bunn, Yuji Yamada

    IEEE Transactions on Power Systems   37 ( 5 )   1 - 1   2022.9

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (scientific journal)   Publisher：Institute of Electrical and Electronics Engineers ({IEEE})  

    The design of electricity imbalance pricing mechanisms is internationally controversial. Policies on whether to permit virtual trading for market participants and whether, or how, to impose penalty incentives on the imbalance volumes vary widely. Furthermore, market designs vary depending whether the imbalance prices are obtained directly from real-time trading or based upon the offer and demand functions from the day-ahead energy markets. This paper develops an analytical framework for evaluating designs for imbalance settlement mechanisms and we have selected the Japanese electricity market, which has undergone several revisions in its imbalance mechanism, as a good example to assess such variations. We develop a predictive approach for the imbalance volumes and price densities using two-step quantile regressions and derive a new trading optimization for a virtual traders arbitrage position. We construct supporting models to estimate prediction errors for renewable power and demand as drivers of imbalance volume. The empirical analysis reveals that even in a mechanism with imbalance penalties based upon day-ahead reference prices, virtual trading may still be beneficial to market participants as well as to the system operator. We also find that greater market transparency is crucial for increased benefits. The insights generalize beyond the Japan case study.

    DOI： 10.1109/TPWRS.2021.3135334

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  • Electricity Spot Price Forecasting Using Principal Component-Guided Sparse Regression

    Takuji Matsumoto

    Abstracts of the 2022 Autumun National Conference of the ORSJ   1 - 2   2022.8

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    Authorship：Lead author,　Corresponding author   Language：Japanese   Publishing type：Research paper (conference, symposium, etc.)   Publisher：The Operations Research Society of Japan  

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    Other Link： https://kanazawa-u.repo.nii.ac.jp/record/2000671/files/MATSUMOTO-T-202209.pdf

  • Pricing electricity day-ahead cap futures with multifactor skew-t densities Reviewed International coauthorship International journal

    Takuji Matsumoto, Derek Bunn, Yuji Yamada

    Quantitative Finance   22 ( 5 )   835 - 860   2022.5

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (scientific journal)   Publisher：Routledge  

    Short-term risk management is becoming increasingly significant in power trading as the intermittent renewable generators introduce more weather risk into the price formation dynamics. There is a vacuum in hedging instruments at the day-ahead stage to protect retailers in particular from such volatility and price spikes. Motivated by this requirement, this paper analyses a flexible hedging product, day-ahead cap futures. For pricing this product, we parametrically predict the probability distribution of day-ahead prices using the multifactor Generalized Additive Model for Location, Scale and Shape (GAMLSS) based upon the skew-t distribution with weather forecasts and calendar information as explanatory variables. In particular, we reveal that this higher-order moment model is superior to several lower-order models such as the normal distribution in all the following three aspects: fairness as pricing method, underwriting risk of the risk-taker and the variance reduction effect of the risk hedger.

    DOI： 10.1080/14697688.2021.1984553

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  • Power Forward Curve Model with Mitigated Swell Based on Constrained Least Square Error Approach Reviewed International journal

    Takuji Matsumoto, Misao Endo

    2022 12th International Conference on Power, Energy and Electrical Engineering (CPEEE 2022)   207 - 214   2022.2

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (international conference proceedings)   Publisher：IEEE  

    DOI： 10.1109/cpeee54404.2022.9738677

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  • Going for Derivatives or Forwards? Minimizing Cashflow Fluctuations of Electricity Transactions on Power Markets Reviewed International journal

    Yuji Yamada, Takuji Matsumoto

    Energies   14 ( 21 )   7311   2021.11

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    Language：English   Publishing type：Research paper (scientific journal)  

    DOI： 10.3390/en14217311

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  • Comprehensive and Comparative Analysis of GAM-Based PV Power Forecasting Models Using Multidimensional Tensor Product Splines against Machine Learning Techniques Reviewed International journal

    Takuji Matsumoto, Yuji Yamada

    Energies   14 ( 21 )   7146   2021.11

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (scientific journal)  

    DOI： 10.3390/en14217146

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  • One-week-ahead electricity price forecasting using weather forecasts, and its application to arbitrage in the forward market: an empirical study of the Japan Electric Power Exchange Reviewed International journal

    Takuji Matsumoto, Misao Endo

    The Journal of Energy Markets   14 ( 3 )   1 - 26   2021.9

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (scientific journal)  

    DOI： 10.21314/JEM.2021.004

    DOI： 10.24517/00067122

    Web of Science

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  • Construction of Forecast Model for Power Demand and PV Power Generation Using Tensor Product Spline Function Reviewed International journal

    Takuji Matsumoto, Yuji Yamada

    IOP Conference Series: Earth and Environmental Science   812 ( 1 )   012001   2021.7

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (scientific journal)   Publisher：IOP Publishing  

    DOI： 10.1088/1755-1315/812/1/012001

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    Other Link： https://iopscience.iop.org/article/10.1088/1755-1315/812/1/012001/pdf

  • Customized yet Standardized Temperature Derivatives: A Non-Parametric Approach with Suitable Basis Selection for Ensuring Robustness Reviewed International journal

    Takuji Matsumoto, Yuji Yamada

    Energies   14 ( 11 )   3351 - 3351   2021.6

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    Authorship：Lead author   Language：English   Publishing type：Research paper (scientific journal)   Publisher：MDPI AG  

    DOI： 10.3390/en14113351

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  • Electricity price forecast based on weekly weather forecast and its application to arbitrage in the forward market Reviewed International journal

    Takuji Matsumoto, Misao Endo

    Proceedings of IEEE 2021 11th International Conference on Power, Energy and Electrical Engineering (CPEEE 2021)   104 - 111   2021.3

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (international conference proceedings)  

    DOI： 10.1109/CPEEE51686.2021.9383387

    Web of Science

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  • Simultaneous hedging strategy for price and volume risks in electricity businesses using energy and weather derivatives Reviewed International journal

    Takuji Matsumoto, Yuji Yamada

    Energy Economics   95 ( 105101 )   105101 - 105101   2021.1

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    Authorship：Lead author   Language：English   Publishing type：Research paper (scientific journal)   Publisher：Elsevier  

    DOI： 10.1016/j.eneco.2021.105101

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  • Hedging strategies for solar power businesses in electricity market using weather derivatives Reviewed International journal

    Takuji Matsumoto, Yuji Yamada

    Proceedings of 2019 IEEE 2nd International Conference on Renewable Energy and Power Engineering (REPE 2019)   236 - 240   2020.3

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (international conference proceedings)   Publisher：IEEE  

    DOI： 10.1109/REPE48501.2019.9025128

    DOI： 10.24517/00068383

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    Other Link： https://kanazawa-u.repo.nii.ac.jp/?action=pages_view_main&active_action=repository_view_main_item_detail&item_id=62145&item_no=1&page_id=13&block_id=21

  • Meteorological Forecast Error Derivatives for Renewable Energy Power Trading (in Japanese)

    Yuji Yamada, Takuji Matsumoto

    Communications of the Operations Research Society of Japan   65 ( 1 )   12 - 19   2020.1

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    Language：Japanese   Publishing type：Research paper (other academic)   Publisher：The Operations Research Society of Japan  

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  • PREDICTION METHOD FOR SOLAR POWER BUSINESS BASED ON FORECASTED GENERAL WEATHER CONDITIONS AND PERIODIC TRENDS BY WEATHER Reviewed

    Takuji Matsumoto, Yuji Yamada

    Transactions of the Operations Research Society of Japan   62   1 - 22   2019.3

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    Authorship：Lead author,　Corresponding author   Language：Japanese   Publishing type：Research paper (scientific journal)   Publisher：The Operations Research Society of Japan  

    DOI： 10.15807/torsj.62.1

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  • Cross Hedging Using Prediction Error Weather Derivatives for Loss of Solar Output Prediction Errors in Electricity Market Reviewed International journal

    Takuji Matsumoto, Yuji Yamada

    Asia-Pacific Financial Markets   26   211 - 227   2018.11

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (scientific journal)   Publisher：JAFEE  

    DOI： 10.1007/s10690-018-9264-3

    DOI： 10.24517/00068382

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    Other Link： https://kanazawa-u.repo.nii.ac.jp/?action=pages_view_main&active_action=repository_view_main_item_detail&item_id=62144&item_no=1&page_id=13&block_id=21

  • Game Analysis on Fraud Audit in the Field of Public Audit System (in Japanese) Reviewed

    Takuji Matsumoto

    Kikei-kensa Kenkyu (Government Audit Research)   ( 53 )   93 - 111   2016.3

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    Authorship：Lead author,　Corresponding author   Language：Japanese   Publishing type：Research paper (scientific journal)   Publisher：Board of Audit of Japan  

    CiNii Books

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  • スウィングクオントオプションの価格付けとヘッジ

    Yuji Yamada, Takuji Matsumoto

    Proceedings of the 59th JAFEE summer conference   1 - 12   2023.8

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    Language：Japanese   Publishing type：Research paper (conference, symposium, etc.)  

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  • Continuous Hedging Strategy for Power Market Using Financial Instruments on Electricity Price and Weather Reviewed International journal

    Yuji Yamada, Takuji Matsumoto

    Extended Abstracts of the 25th International Symposium on Mathematical Theory of Networks and Systems MTNS 2022   2022.9

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    Language：English   Publishing type：Research paper (international conference proceedings)  

    DOI： 10.15495/EPub_UBT_00006809

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  • Standardized Multivariate Weather Derivatives for Hedging Risk in Wind Power Generation Businesses

    Takuji Matsumoto, Yuji Yamada

    Proc. in the 57th JAFEE winter conference   1 - 12   2022.8

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (conference, symposium, etc.)  

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  • Customization of Non-Parametric Hedging Models using Standardized Weather Derivatives: Ensuring Robustness by Cyclic Cubic Splines

    Takuji Matsumoto, Yuji Yamada

    Proc. in the 55th JAFEE winter conference   1 - 12   2021.8

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (conference, symposium, etc.)   Publisher：JAFEE  

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  • Forecast method of PV power generation output using 3D tensor product spline function (in Japanese)

    Takuji Matsumoto, Yuji Yamada

    Abstracts of the 2021 Spring National Conference of the ORSJ   1 - 2   2021.3

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    Authorship：Lead author   Language：Japanese   Publisher：The Operations Research Society of Japan  

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  • Consideration for liquidation of the electricity futures market - Realization of strategic risk hedge trading - (in Japanese)

    Misao Endo, Takuji Matsumoto

    Review of Electricity Economics   ( 67 )   51 - 63   2020.12

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    Language：Japanese   Publisher：Socio-economic Research Center, Central Research Institute of Electric Power Industry  

    CiNii Books

    CiNii Research

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  • Forecast Based Risk Management for Electricity Trading Market

    Takuji Matsumoto

    Doctoral dissertation, University of Tsukuba   2020.8

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    Authorship：Lead author   Language：English   Publishing type：Research paper (scientific journal)   Publisher：University of Tsukuba  

    DOI： 10.15068/00162501

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  • Integrated derivative portfolio for hedging the risk of fluctuations in solar power business revenue in the wholesale power trading market (in Japanese)

    Takuji Matsumoto, Yuji Yamada

    Proc. in the 51st JAFEE winter conference   1 - 12   2019.8

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    Authorship：Lead author,　Corresponding author   Language：Japanese   Publishing type：Research paper (conference, symposium, etc.)   Publisher：JAFEE  

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  • Cross-hedging of prediction error loss in solar power using tensor product spline function (in Japanese)

    Takuji Matsumoto, Yuji Yamada

    Proc. of the 50th JAFEE winter conference   1 - 11   2019.2

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    Authorship：Lead author,　Corresponding author   Language：Japanese   Publishing type：Research paper (conference, symposium, etc.)   Publisher：JAFEE  

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  • A risk management tool for solar power businesses using prediction error weather derivatives Reviewed

    Takuji Matsumoto, Yuji Yamada

    Knowledge and Systems Sciences, 19th International Symposium, KSS 2018, Tokyo, Japan, November 25–27, 2018, Proceedings   55   2018.11

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    Authorship：Lead author,　Corresponding author   Language：English   Publishing type：Research paper (international conference proceedings)  

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  • Solar Radiation Derivatives for Hedging Output Forecast Error Loss in Solar Power (in Japanese)

    Takuji Matsumoto, Yuji Yamada

    Abstracts of the 2018 Spring National Conference of the ORSJ   1 - 2   2018.3

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    Authorship：Lead author   Language：Japanese   Publishing type：Research paper (conference, symposium, etc.)   Publisher：The Operations Research Society of Japan  

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  • Risk management and governance for PFI Project: technology policy lessons from the case of Japan International journal

    Takuji Matsumoto

    Thesis (S.M. in Technology and Policy)-- Massachusetts Institute of Technology, Engineering Systems Division, Technology and Policy Program, 2012   1 - 97   2012.6

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    Authorship：Lead author   Language：English   Publishing type：Master’s thesis   Publisher：Massachusetts Institute of Technology  

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  • Analytical evaluation method of joint standard normal distribution function and its application to structural system reliability analysis (in Japanese)

    Takuji Matsumoto

    Abstracts of Graduate Thesis in Department of Architecture, the University of Tokyo   2005.3

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    Authorship：Lead author   Language：Japanese   Publishing type：Thesis (other)   Publisher：The University of Tokyo  

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Books

MISC

  • An Analysis of the Ex-Ante Risk Premium in the Japanese Electricity Futures Market Invited

    Sihan Zhou, Takuji Matsumoto

    Futures ＆ Options Report   37 ( 8 )   1 - 8   2025.8

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    Authorship：Last author,　Corresponding author   Language：Japanese   Publishing type：Internal/External technical report, pre-print, etc.   Publisher：Japan Exchange Group  

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  • Understanding and Applying Electricity Futures Pricing Invited

    Takuji Matsumoto

    Japan Exchange Group’s special page on electricity futures   2025.8

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    Authorship：Lead author   Language：Japanese   Publishing type：Article, review, commentary, editorial, etc. (trade magazine, newspaper, online media)   Publisher：Japan Exchange Group  

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  • Construction of a Forward Curve for Electricity Market Trading Practices in Japan (in Japanese)

    Takuji Matsumoto, Misao Endo

    CRIEPI Research Material   SE21503   2022.2

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    Authorship：Lead author   Language：Japanese   Publishing type：Rapid communication, short report, research note, etc. (bulletin of university, research institution)   Publisher：Central Research Institute of Electric Power Industry  

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  • How should we understand the risk premium, for effective electricity futures trading? (in Japanese)

    Takuji Matsumoto

    Denki Shimbun Seminar   ( 235 )   2021.6

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    Authorship：Lead author   Language：Japanese   Publishing type：Article, review, commentary, editorial, etc. (trade magazine, newspaper, online media)  

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  • Impact of JEPX Spot Price 0.01 JPY/kWh - How Electricity Utilities Should Face the Risks - (in Japanese) Invited

    Takuji Matsumoto

    Monthly Energy Forum, August 2020   788   96 - 97   2020.8

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    Language：Japanese   Publishing type：Article, review, commentary, editorial, etc. (trade magazine, newspaper, online media)   Publisher：Energy Forum Co., Ltd.  

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  • Design of solar radiation forecast error derivatives in solar power generation and measurement of hedging effect (in Japanese)

    Takuji Matsumoto, Yuji Yamada

    Proc. of the 48th JAFEE winter conference (separate issue)   2018.3

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    Authorship：Lead author   Language：Japanese   Publishing type：Research paper, summary (national, other academic conference)   Publisher：JAFEE  

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  • Utilization of price index for activation of electricity market (in Japanese)

    Takuji Matsumoto

    MRI Monthly Review   2018.1

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    Authorship：Lead author   Language：Japanese   Publishing type：Article, review, commentary, editorial, etc. (trade magazine, newspaper, online media)   Publisher：Mitsubishi Research Institute  

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Presentations

  • Robust Battery Arbitrage Against Prediction Noise and the “Curse of Optimization”

    Takuji Matsumoto, Katsunobu Sasanuma

    the 2026 Spring National Conference of the ORSJ  2026.3  The Operations Research Society of Japan

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    Event date： 2026.3

    Language：Japanese   Presentation type：Oral presentation (general)  

    Country：Japan  

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  • The Geometry of Forward Premiums: A Limit Order Perspective Invited International coauthorship

    Takuji Matsumoto

    Hiroshima University of Economics and Tokyo Metropolitan University Joint Finance Research Group ― New Developments in Quantitative Analysis and Practical Application ―  2026.1  Center for Financial Engineering Research, Tokyo Metropolitan University

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    Event date： 2026.1

    Language：Japanese   Presentation type：Oral presentation (invited, special)  

    Venue：Hiroshima   Country：Japan  

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  • Forecasting Methods and Bidding Strategies in Electricity Spot Markets Invited

    Takuji Matsumoto

    Public Research Meeting, Energy and Environmental Business Research Group, Japan Association of Real Options and Strategy  2025.8  Japan Association of Real Options and Strategy

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    Event date： 2025.8

    Language：Japanese   Presentation type：Public lecture, seminar, tutorial, course, or other speech  

    Venue：Tokyo   Country：Japan  

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  • Standardized Weather Derivatives for Renewable Energy International conference

    Takuji Matsumoto, Yuji Yamada

    Winter Workshop on Operations Research, Finance and Mathematics, 2025  2025.2  Research Center for Quantitative Finance, Tokyo Metropolitan University; The Operations Research Society of Japan, Hokkaido Branch

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    Event date： 2025.2

    Language：English   Presentation type：Oral presentation (general)  

    Venue：Asarigawa Onsen, Otaru city   Country：Japan  

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  • Hedging Methods for Shape Risk in Renewable Energy Markets - Empirical Analysis of Hedging Effectiveness Using QF Indexes -

    Takuji Matsumoto, Yuji Yamada

    The 62th JAFEE winter conference  2025.2  JAFEE

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    Event date： 2025.2

    Language：Japanese   Presentation type：Oral presentation (general)  

    Country：Japan  

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  • Market Trading Modeling for Efficient Risk Management of Renewable Energy

    Takuji Matsumoto, Yuji Yamada

    The 67th Japan Joint Automatic Control Conference  2024.11 

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    Event date： 2024.11

    Language：English   Presentation type：Oral presentation (invited, special)  

    Venue：Himeji   Country：Japan  

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  • Unveiling Forward Premium Dynamics: Theoretical and Empirical Insights from Limit Order Arbitrage Models Invited International coauthorship International conference

    Takuji Matsumoto, Derek Bunn

    International Conference on Modelling and Managing Energy Risks (MaMER2024)  2024.9  DEMB@unimore, dSEA@unipd, and DISEI@unifi

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    Event date： 2024.9

    Language：English   Presentation type：Oral presentation (invited, special)  

    Venue：University of Modena and Reggio Emilia   Country：Italy  

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  • Electricity Price Forecasting with Principal Component-Guided Sparse Regression International coauthorship International conference

    Takuji Matsumoto, Florian Ziel

    The 20th International Conference on the European Energy Market (EEM24)  2024.6  IEEE

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    Event date： 2024.6

    Language：English   Presentation type：Oral presentation (general)  

    Country：Turkey  

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  • Efficient Risk Management for Distributed Clean Energy: Principal Component based Weather Derivatives Invited International conference

    Takuji Matsumoto, Yuji Yamada

    2024 14th International Conference on Future Environment and Energy (ICFEE 2024)  2024.3 

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    Event date： 2024.3

    Language：English   Presentation type：Oral presentation (invited, special)  

    Venue：Matsue city   Country：Japan  

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  • Principal Component Quanto Derivatives for Enhanced Solar Power Hedging

    Takuji Matsumoto, Yuji Yamada

    The 60th JAFEE winter conference  2024.2  JAFEE

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    Event date： 2024.2

    Language：English   Presentation type：Oral presentation (general)  

    Venue：The University of Tokyo   Country：Japan  

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  • Optimal Arbitrage with Limit Orders in Day-Ahead Electricity Markets International coauthorship International conference

    Takuji Matsumoto, Derek Bunn

    18th IAEE European Conference  2023.7  International Association for Energy Economics

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    Event date： 2023.7

    Language：English   Presentation type：Oral presentation (general)  

    Country：Italy  

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    Other Link： https://www.aiee.it/iaee_2023/wp-content/uploads/2023/08/Matsumoto_ppt_Milan2023.pdf

  • Construction of interpretable GAM-based PV forecasts that outperform the prediction accuracy of machine learning methods Invited International conference

    Takuji Matsumoto, Yuji Yamada

    The 7th International Conference on New Energy and Future Energy Systems (NEFES 2022)  2022.10 

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    Event date： 2022.10

    Language：English   Presentation type：Oral presentation (invited, special)  

    Venue：Online  

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  • Comprehensive And Comparative Analysis Of GAM-based Solar Power Forecasting Models Versus Four Machine Learning Methods International conference

    Takuji Matsumoto, Yuji Yamada

    2022 INFORMS Annual Meeting  2022.10  INFORMS

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    Event date： 2022.10

    Language：English   Presentation type：Oral presentation (general)  

    Venue：Indianapolis, IN   Country：United States  

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  • Discussant: " An empirical analysis of the price rise in the European and Japanese electricity markets - Implications for future energy policy and electricity market design -" Invited

    Takuji Matsumoto

    Society for Environmental Economics and Policy Studies 2022 Conference  2022.10  Society for Environmental Economics and Policy Studies

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    Event date： 2022.10

    Language：Japanese   Presentation type：Oral presentation (invited, special)  

    Venue：Online   Country：Japan  

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  • Information Value of Weekly Weather Forecasts: An Empirical Analysis of Electricity Price Forecasting and Forward Arbitrage International conference

    Takuji Matsumoto, Misao Endo

    11th International Ruhr Energy Conference (INREC 2022)  2022.9  House of Energy Markets & Finance, University of Duisburg-Essen

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    Event date： 2022.9

    Language：English   Presentation type：Oral presentation (general)  

    Venue：University of Duisburg-Essen, Germany   Country：Germany  

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  • Electricity Spot Price Forecasting Using Principal Component-Guided Sparse Regression

    Takuji Matsumoto

    The 2022 Autumun National Conference of the ORSJ  2022.9  The Operations Research Society of Japan

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    Event date： 2022.9

    Language：Japanese   Presentation type：Oral presentation (general)  

    Country：Japan  

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  • Multivariate Weather Derivatives for Wind Power Risk Management: Standardization Scheme and Trading Strategy International conference

    Takuji Matsumoto, Yuji Yamada

    The 9th International Conference on Energy and Environment Research  2022.9 

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    Event date： 2022.9

    Language：English   Presentation type：Oral presentation (general)  

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  • Power Forward Curve Model with Mitigated Swell Based on Constrained Least Square Error Approach International conference

    Takuji Matsumoto, Misao Endo

    IEEE 2022 12th International Conference on Power, Energy and Electrical Engineering (CPEEE 2022)  2022.2 

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    Event date： 2022.2

    Language：English   Presentation type：Oral presentation (general)  

    Venue：Online   Country：Japan  

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  • Pricing Electricity Day-Ahead Cap Futures Using Multifactor GAMLSS Density Forecasts International coauthorship International conference

    Takuji Matsumoto, Derek W. Bunn, Yuji Yamada

    2021 INFORMS Annual Meeting  2021.10  INFORMS

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    Event date： 2021.10

    Language：English   Presentation type：Oral presentation (general)  

    Venue：Online  

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  • Customized Nonparametric Hedging Model for Electric Utilities: Suitable Basis Selection to Ensure Robustness International conference

    Takuji Matsumoto, Yuji Yamada

    22nd Conference of the International Federation of Operational Research Societies (IFORS 2021)  2021.8  The International Federation of Operational Research Societies

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    Event date： 2021.8

    Language：English   Presentation type：Oral presentation (general)  

    Country：Korea, Republic of  

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  • Customization of Non-Parametric Hedging Models using Standardized Weather Derivatives: Ensuring Robustness by Cyclic Cubic Splines

    Takuji Matsumoto, Yuji Yamada

    The 55th JAFEE summer conference  2021.8  JAFEE

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    Event date： 2021.8

    Language：English   Presentation type：Oral presentation (general)  

    Venue：Online   Country：Japan  

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  • Solar power forecasting method based on smooth trend estimation in three directions of time, date, and solar radiation International conference

    Takuji Matsumoto, Yuji Yamada

    41st International Symposium on Forecasting (ISF 2021)  2021.6  International Institute of Forecasters

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    Event date： 2021.6

    Language：English   Presentation type：Oral presentation (general)  

    Venue：Online  

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  • Construction of Forecast Model for Power Demand and PV Power Generation Using Tensor Product Spline Function International conference

    Takuji Matsumoto, Yuji Yamada

    2021 3rd International Conference on Clean Energy and Electrical Systems  2021.4 

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    Event date： 2021.4

    Language：English   Presentation type：Oral presentation (general)  

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  • Forecast method of PV power generation output using 3D tensor product spline function

    Takuji Matsumoto, Yuji Yamada

    2021 Spring National Conference of the ORSJ  2021.3  The Operations Research Society of Japan

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    Event date： 2021.3

    Language：Japanese   Presentation type：Oral presentation (general)  

    Venue：Online   Country：Japan  

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  • Electricity price forecast based on weekly weather forecast and its application to arbitrage in the forward market International conference

    Takuji Matsumoto, Misao Endo

    IEEE 2021 11th International Conference on Power, Energy and Electrical Engineering (CPEEE 2021)  2021.2  IEEE

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    Event date： 2021.2

    Language：English   Presentation type：Oral presentation (general)  

    Venue：Online  

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  • Analytical Framework for Efficient Imbalance Settlement Mechanisms in the Japanese Electricity Markets International conference

    Takuji Matsumoto, Derek Bunn, Yuji Yamada

    2020 INFORMS Annual Meeting  2020.11 

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    Event date： 2020.11

    Language：English   Presentation type：Oral presentation (general)  

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  • Risk Management for Electricity Market Using a Forecasting Approach Invited

    Takuji Matsumoto

    Faculty Seminar of Financial Strategy Program, Hitotsubashi University Business School (HUB)  2020.8  Hitotsubashi University Business School

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    Event date： 2020.8

    Language：Japanese   Presentation type：Public lecture, seminar, tutorial, course, or other speech  

    Country：Japan  

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  • Integrated derivative portfolio for hedging the risk of fluctuations in solar power business revenue in the wholesale power trading market (in Japanese)

    Takuji Matsumoto, Yuji Yamada

    The 51st JAFEE winter conference  2019.8  JAFEE

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    Event date： 2019.8

    Language：Japanese   Presentation type：Oral presentation (general)  

    Country：Japan  

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  • Nonparametric composite models for solar radiation forecasting and solar derivatives (in Japanese)

    Takuji Matsumoto, Yuji Yamada

    JSPS Scientific Research (A) Support Workshop "Theory and Practice of Power Market Trading Risk Management"  2019.3 

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    Event date： 2019.3

    Language：Japanese   Presentation type：Oral presentation (general)  

    Country：Japan  

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    Other Link： https://www.u.tsukuba.ac.jp/~yamada.yuji.gn/workshop/KibanA/matsumoto.html

  • Cross-hedging of prediction error loss in solar power using tensor product spline function (in Japanese)

    Takuji Matsumoto, Yuji Yamada

    The 50th JAFEE winter conference  2019.2  JAFEE

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    Event date： 2019.2

    Language：Japanese   Presentation type：Oral presentation (general)  

    Country：Japan  

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  • Solar Radiation Derivatives for Hedging Output Forecast Error Loss in Solar Power (in Japanese)

    Takuji Matsumoto, Yuji Yamada

    2018 Spring National Conference of the ORSJ  2018.3  The Operations Research Society of Japan

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    Event date： 2018.3

    Language：Japanese   Presentation type：Oral presentation (general)  

    Country：Japan  

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  • Design of solar radiation forecast error derivatives in solar power generation and measurement of hedging effect (in Japanese)

    Takuji Matsumoto, Yuji Yamada

    The 48th JAFEE winter conference  2018.3  JAFEE

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    Event date： 2018.3

    Language：Japanese   Presentation type：Oral presentation (general)  

    Country：Japan  

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  • Hedge Modelling for Solar Power Business Using Multiple Non-parametric Regression Methods International conference

    Takuji Matsumoto, Yuji Yamada

    2019 INFORMS Annual Meeting  2019.10  INFORMS

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    Language：English   Presentation type：Poster presentation  

    Venue：Seattle, USA  

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  • Forecast Based Risk Management for Electricity Trading Market

    Takuji Matsumoto

    PhD dissertation defense, University of Tsukuba  2020.7 

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    Presentation type：Public lecture, seminar, tutorial, course, or other speech  

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  • The changing JEPX market - The future of wholesale electric power as seen from data analysis (in Japanese) Invited

    Takuji Matsumoto

    Energy Information Center Seminar  2019.4 

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    Language：Japanese   Presentation type：Public lecture, seminar, tutorial, course, or other speech  

    Country：Japan  

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  • A risk management tool for solar power businesses using prediction error weather derivatives International conference

    Takuji Matsumoto, Yuji Yamada

    International Symposium on Knowledge Sciences  2018.11 

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    Language：English   Presentation type：Oral presentation (general)  

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  • Hedging strategies for solar power businesses in electricity market using weather derivatives International conference

    Takuji Matsumoto

    2019 IEEE 2nd International Conference on Renewable Energy and Power Engineering (REPE 2019)  2019.11  IEEE

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    Language：English   Presentation type：Oral presentation (general)  

    Venue：Toronto, Canada  

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  • Forecasting Methods and Their Applications in Electricity Markets Invited International conference

    Takuji Matsumoto

    2026 16th International Conference on Power, Energy, and Electrical Engineering (CPEEE 2026)  2026.3 

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    Event date： 2026.3

    Language：English   Presentation type：Oral presentation (invited, special)  

    Country：Japan  

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  • Altcoin Trading Strategies Using Bitcoin Price as a Leading Indicator: Analysis of interactions between crypto assets

    Tomoki Kurihara, Takuji Matsumoto

    The 62th JAFEE winter conference  2025.2  JAFEE

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    Event date： 2025.2

    Language：Japanese   Presentation type：Oral presentation (general)  

    Country：Japan  

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  • Reserve Market Price Forecasting: Model Overview and Accuracy Analysis Invited

    Takuji Matsumoto

    Reserve Market Price Forecasting Webinar  2025.1  Quick Corp.

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    Event date： 2025.1

    Language：Japanese   Presentation type：Public lecture, seminar, tutorial, course, or other speech  

    Country：Japan  

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  • Pricing Multifactor Swing Quanto Options with Tensor Product Spline Functions and Their Hedge Effects in Energy Markets

    Yuji Yamada, Takuji Matsumoto

    Quantitative Methods in Finance 2024  2024.12 

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    Event date： 2024.12

    Language：English   Presentation type：Oral presentation (general)  

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  • Mitigating Cash Flow Volatility for Wind Power Producers Using Mixed Derivatives

    Yuji Yamada, Takuji Matsumoto

    2024 Asia Pacific Association of Finance International Conference  2024.7 

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    Event date： 2024.7

    Language：English  

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  • スウィングクオントオプションの価格付けとヘッジ

    Yuji Yamada, Takuji Matsumoto

    The 59th JAFEE summer conference  2023.8  JAFEE

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    Event date： 2023.8

    Language：English   Presentation type：Oral presentation (general)  

    Country：Japan  

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  • Product and market design of weather derivatives for efficient wind power risk hedge trading

    Takuji Matsumoto

    Waseda Workshop on Economics of Uncertainty and its Related Field  2023.3 

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    Event date： 2023.3

    Language：Japanese   Presentation type：Symposium, workshop panel (nominated)  

    Venue：Waseda University   Country：Japan  

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  • Continuous Hedging Strategy for Power Market Using Financial Instruments on Electricity Price and Weather International conference

    Yuji Yamada, Takuji Matsumoto

    Extended Abstracts of the 25th International Symposium on Mathematical Theory of Networks and Systems MTNS 2022  2022.9 

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    Event date： 2022.9

    Language：English   Presentation type：Oral presentation (invited, special)  

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  • Standardized Multivariate Weather Derivatives for Hedging Risk in Wind Power Generation Businesses

    Takuji Matsumoto, Yuji Yamada

    the 57th JAFEE winter conference  2022.8  JAFEE

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    Event date： 2022.8

    Language：English   Presentation type：Oral presentation (general)  

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  • Hedging strategy for sustainable solar power generation businesses by creating derivatives market International conference

    Yuji Yamada, Takuji Matsumoto

    NUS-Tsukuba Joint-Online-Workshop on “Sustainable Management and Data Sciences”  2021.3  Faculty of Business Sciences, University of Tsukuba; NUS, Institute of Operations Research and Analytics (IORA)

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    Event date： 2021.3

    Language：English   Presentation type：Symposium, workshop panel (nominated)  

    Venue：Tokyo   Country：Japan  

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  • Simultaneous Hedging of Price and Volume for Electricity Trading Using Prediction Error Derivatives International conference

    Yuji Yamada, Takuji Matsumoto

    2020 INFORMS Annual Meeting  2020.11 

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    Event date： 2020.11

    Language：English   Presentation type：Oral presentation (general)  

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  • Creating prediction error insurance market for renewable energy trading International conference

    Yuji Yamada, Takuji Matsumoto

    MIT-Tsukuba Joint-Workshop on Data Systems Science towards Social and Business Innovations  2020.1  Faculty of Business Sciences, University of Tsukuba, and MIT Institute for Data, Systems, and Society (IDSS)

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    Event date： 2020.1

    Language：English   Presentation type：Symposium, workshop panel (nominated)  

    Venue：Tokyo   Country：Japan  

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  • Performance indicators of electronic application system

    Takuji Matsumoto

    Japan Association for Management Systems  2010.4  Japan Association for Management Systems

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    Event date： 2010.4

    Language：Japanese   Presentation type：Oral presentation (general)  

    Country：Japan  

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  • Energy Finance and Digital Transformation

    Takuji Matsumoto

    2024.1 

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    Language：Japanese   Presentation type：Public lecture, seminar, tutorial, course, or other speech  

    Country：Japan  

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  • Valuation and in-depth analysis of multifactor swing quanto options for mitigating electricity price-volume risk Invited International conference

    Yuji Yamada, Takuji Matsumoto

    2023 KAFE-SKKU International Conference on Finance and Economics  2023.10 

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    Language：English   Presentation type：Oral presentation (invited, special)  

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Works

Awards

  • JAFEE BEST PAPER AWARD

    2024.8   JAFEE   Cross Hedging Using Prediction Error Weather Derivatives for Loss of Solar Output Prediction Errors in Electricity Market

    Takuji Matsumoto, Yuji Yamada

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    Award type：Award from Japanese society, conference, symposium, etc.  Country：Japan

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  • Best Paper Award

    2024.3   2024 14th International Conference on Future Environment and Energy (ICFEE 2024)   Efficient Risk Management for Distributed Clean Energy: Principal Component based Weather Derivatives

    Takuji Matsumoto, Yuji Yamada

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    Award type：Award from international society, conference, symposium, etc. 

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  • JAFEE Young Researcher's Paper Award 2018

    2019.2   JAFEE   Cross Hedging Using Prediction Error Weather Derivatives for Loss of Solar Output Prediction Errors in Electricity Market

    Takuji Matsumoto, Yuji Yamada

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    Award type：Award from Japanese society, conference, symposium, etc. 

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  • JAFEE Oral Presentation Award

    2018.3   JAFEE   Solar radiation derivatives for hedging prediction error loss of solar power

    Takuji Matsumoto, Yuji Yamada

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    Award type：Award from international society, conference, symposium, etc. 

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Research Projects

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Other

  • データ分析コンペ入賞

    2024.2

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    Nishika主催データ分析コンペ「生鮮野菜の価格予測2024冬」2位入賞

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  • Alliance Partner

    2023.5

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Teaching Experience

  • Energy Market and Risk Management

    2025.12 Institution：Institute of Science Tokyo

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    Level：Postgraduate  Country：Japan

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  • Financial Engineering

    2025.10 Institution：Institute of Science Tokyo

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    Level：Postgraduate  Country：Japan

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  • Innovation Policy I, II

    2025.10 Institution：Institute of Science Tokyo

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    Level：Postgraduate  Country：Japan

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  • Methodology of Political Science and Economics II

    2025.6 Institution：Institute of Science Tokyo

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    Level：Postgraduate  Country：Japan

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  • Exercises in Research Literacy

    2025.6 Institution：Institute of Science Tokyo

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    Level：Postgraduate  Country：Japan

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  • Introduction to Management of Technology II

    2025.6 Institution：Institute of Science Tokyo

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    Level：Undergraduate (specialized)  Country：Japan

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  • Seminar on Technology and Innovation Management

    2025.4 Institution：Institute of Science Tokyo

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    Level：Postgraduate  Country：Japan

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  • AI lectures & trainings (Deep Lectures & Trainings)

    2025.2 - 2025.3 Institution：Kanazawa University

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  • Introduction to Finance

    2024.12 - 2025.3 Institution：Kanazawa University, College of Human and Social Sciences, School of Economics

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  • Exploratory Project Seminar (ESG Investment Simulation)

    2024.4 - 2025.3 Institution：Kanazawa University

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    Level：Undergraduate (specialized)  Country：Japan

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  • Graduation Thesis Research

    2024.4 - 2025.3 Institution：Kanazawa University

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    Level：Undergraduate (specialized)  Country：Japan

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  • Qualifying Examination

    2024.4 - 2025.3 Institution：Kanazawa University

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    Level：Undergraduate (specialized)  Country：Japan

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  • Seminar of Financial Engineering

    2023.12 - 2025.3 Institution：Kanazawa University

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    Level：Undergraduate (specialized)  Country：Japan

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  • 金融工学総論（ゲスト講師）

    2023.12 Institution：筑波大学大学院 ビジネス科学研究科

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    Level：Postgraduate  Country：Japan

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  • Financial Engineering

    2023.10 - 2025.3 Institution：College of Transdisciplinary Sciences for Innovation, Kanazawa University

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    Level：Undergraduate (specialized)  Country：Japan

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  • Study Abroad Programs

    2023.6 - 2025.3 Institution：College of Transdisciplinary Sciences for Innovation, Kanazawa University

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  • ESG investing

    2023.6 - 2025.3 Institution：College of Transdisciplinary Sciences for Innovation, Kanazawa University

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    Level：Undergraduate (specialized)  Country：Japan

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  • Exploratory Project Seminar (Predictive Modeling of Finance-Related Data)

    2023.4 - 2023.12 Institution：College of Transdisciplinary Sciences for Innovation, Kanazawa University

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    Level：Undergraduate (specialized)  Country：Japan

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  • Super Smart City and Society 5.0

    2022.6 - 2025.3 Institution：College of Transdisciplinary Sciences for Innovation, Kanazawa University

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  • Business Management Special Exercise I-I

    2021.5 Institution：The Graduate School of Business Sciences, University of Tsukuba

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    Level：Postgraduate  Country：Japan

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Social Activities

  • Advisory Services for Electricity Market Transactions

    Role(s)： Advisor

    Private Company  2026.1

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    Audience： Company

    Type：Research consultation

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  • Providing academic and technical advisory services for power futures analysis

    Role(s)： Advisor

    Private Company  2025.9 - 2026.3

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    Audience： Company

    Type：Research consultation

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  • Understanding and Applying Electricity Futures Pricing

    Role(s)： Contribution

    Japan Exchange Group  Japan Exchange Group’s special page on electricity futures  2025.8

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    Audience： Researchesrs,　Company

    Type：Internet

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  • Providing support for developing models for market price, demand, and imbalance forecasting in electricity market trading

    Role(s)： Advisor

    Private Company  2025.6 - 2025.7

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    Audience： Company

    Type：Research consultation

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  • Weather Derivatives: A Financial Tool for a Sustainable Future

    Role(s)： Lecturer

    FROMPAGE  2023.10

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    Audience： High school students

    Type：Visiting lecture

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  • Weather Derivatives: A Financial Tool for a Sustainable Future

    Role(s)： Lecturer

    FROMPAGE  2023.6

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    Audience： High school students

    Type：Promotional material

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  • Weather Derivatives: Aiding the Pursuit of Carbon Neutrality

    Role(s)： Media coverage,　Contribution

    FROMPAGE  2023.6

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    Audience： High school students

    Type：Internet

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Media Coverage

Academic Activities

  • Session Chair

    Role(s)： Panel moderator, session chair, etc.

    the 2026 Spring National Conference of the ORSJ  2026.3

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  • Session Chair International contribution

    Role(s)： Panel moderator, session chair, etc.

    2024 14th International Conference on Future Environment and Energy (ICFEE 2024)  2024.3

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  • Session Chair International contribution

    Role(s)： Panel moderator, session chair, etc.

    The 7th International Conference on New Energy and Future Energy Systems (NEFES 2022)  2022.10

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  • Session Chair International contribution

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    IEEE 2022 12th International Conference on Power, Energy and Electrical Engineering  2022.2

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  • Session Chair International contribution

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    2021 INFORMS Annual Meeting  2021.10

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  • Session Chair International contribution

    Role(s)： Panel moderator, session chair, etc.

    41st International Symposium on Forecasting (ISF 2021)  2021.6

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  • Session Chair International contribution

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    IEEE 2021 11th International Conference on Power, Energy and Electrical Engineering  2021.2

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  • Peer review International contribution

    Role(s)： Peer review

    Energies (15); IEEE T-PS(5) SG(3) EM(1); Energy Econ (4); J Energy Mkts (3); Sust. Futures (3); Economies (3); Financial Innov (2); Green Low-Carbon Econ (2); Energy Technol (2); Appl Econ Lett (2); Commodities (2); Forecasting (1); J Futures Mkts (1); Appl Econ (1); Energy Sources B (1); IET GT&D (1); Asia-Pac Financial Mkts (1); Sustainability (1); IEEE PES GM’23(3),’24(3); IFAC WC’23(2); MTNS’22(1); CPEEE’21(3), ’22(3), ’23(1), ’24(1), ’25(2); EI.A’25(1); ICFEE’24(3)  2020.9

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