The DIJ is sad to announce the death of Professor Masahiko Aoki, who passed away on 15 July 2015, in Palo Alto. Professor Aoki has been one of the internationally most recognized Japanese economists. His comparative institutional research on firms, corporate governance and economic systems had a lasting impact beyond Japanese Studies. From 2004 to 2008 he served as a member of our institute’s scientific advisory board. We greatly benefited from his advice and rich international research background.