Abstract: Japan implemented two large-scale privatization movements after World War II, primarily during the periods of Yasuhiro Nakasone and Junichiro Koizumi. By comparing the privatization movements during the Nakasone and Koizumi periods and analyzing the significant impacts of three factors: financial crises, political struggles, and external pressures, this paper attempts to identify a unique model of post-war privatization in Japan. Using the theoretical frameworks and methodologies of historical institutionalism and political entrepreneur, this paper attempts to find the profound historical institutional factors and the pivotal role exerted by political leaders in shaping the distinctive model of post-war privatization in Japan.

Key words: privatization, historical institutionalism, political entrepreneurship, Yasuhiro Nakasone, Junichiro Koizumi