Real Estate Securitization (RES) Act was approved in Taiwan on July 9, 2003. In this Act, there are two types of securitization-Real Estate Investment Trust (REIT) and Real Estate Asset Trust (REAT). As we know that Taiwan's REIT is learned from the experience of the US, and Taiwan's REAT is learned from the experience of Japan. In order to further investigate the RES experience and impacts on real estate market in Japan, I visit the Faculty of Real Estate Science, Meikai University in Japan for this special research. This paper is condensed from my study-visit report in Japan. We can find some similarities and differences of RES between Japan and Taiwan, and the experience of Japan's RES is helpful for the newly development of Taiwan's RES.There are 5 sections in this paper. Section 1 describes the background, history, and purposes of RES in Japan. Section 2 shows the general situation and implementation of RES in Japan. Section 3 explores the impacts and future prospects of RES in Japan. Section 4 is the conclusion and suggestion. The final section is appendix which provides 12 countries' experience of RES for the comparison and reference.