Kamakura Corporation was founded in Tokyo in 1990. Kamakura Risk Manager (KRM) was first sold commercially in 1993. Kamakura relocated to Honolulu and qualified for the State research and development subsidy. Jarrow-Lando-Turnbull published
Markov model for the term structure of credit began to spread in 1997. The stochastic multi-period net income simulation was added to KRM in 1998. The first implementation of a reduced form credit risk model was made in 2000. Kamakura was the first vendor to offer integrated credit and market risk in their risk management products. In 2002, they launched the KRIS default probability service for 20,000 listed firms. They completed their first
Basel II client implementation in 2003. Insurer
MetLife and pension fund
Ontario Teachers' Pension Plan became clients during that year. Pair-wise default correlations were added to KRIS in 2004. Implied Ratings and Implied CDS Spreads were added to KRIS in 2006. KRIS-
CDO launched in 2007. In 2008, Kamakura was named one of the top three worldwide financial information vendors in a
Risk Technology 2008 survey. They launched a Basel II-compliant default probability service for sovereigns in 2008 as well. They were named the world's number 1 asset and liability management vendor and number 1 liquidity risk vendor in a
Risk Technology 2009 survey. In 2009 the U.S.
Office of the Comptroller of the Currency signed for KRIS public firm default models, KRIS
sovereign default models and KRIS credit portfolio manager. In 2017, Hong Leong Finance signed with Kamakura Corporation's risk management software. Kamakura was named for the second consecutive year to the World Finance 100 in 2018, and released version 10 of the Kamakura Risk Manager in March of that year. ==Products and services==