The purpose of this paper is to re-examination of financial deregulation and financial reforming in Japan. Further, to appraisal of financial holding company on financial reforming in the modern economy. Financial deregulation and financial reforming is to disturb realization of financial system that creat efficiency of finance and new order of economy. Deregulation and free competition bring forth monopoly and domination by the big finance capital. Therefore, we mist to strengthening regulate anti-trust and cartel not for monopolistic finance capital but for user. And removing of unequal financial restriction, So must effort to realize reforming and efficiency of finance.