Since the 1990s，the development of trust business in Japan has shown the following characteristics：the scale of asset utilization has remained relatively stable，asset securitization has increased slightly，and asset management has continued to rise；The scale of investment business continues to expand；There is an obvious trend of comprehensive types of entrusted property；The efficiency of asset management has been continuously improved；The internationalization of trust assets and the proportion of equity allocation continued to increase；The development of new trust is frustrated；Personal trust business has developed，but it has not been widely used；Public trust business volume is small and showing a downward trend. The overall judgment on the development of trust business in Japan is as follows：finance and property inheritance are the two core areas of trust application；The development of trust has stagnated since 2006；Several reforms of the tax law have played an important role in promoting civil trust；The lack of creative tax system and the lack of convenience in practice hinder the rapid development of civil trust；The lower trust reward inhibits the trust bank’s willingness to develop in civil trust and public trust.