<p>Japan is a unique country that has experienced issues such as deflation and a declining and ageing population ahead of other developed countries. The same is true of international economic issues. For example, while many countries have recently experienced trade conflicts with the United States, Japan had already encountered such issues in the 1950s. Several studies have examined these issues. Their findings could help us to understand current international economic problems. However, recent studies do not necessarily reflect this knowledge due to a lack of comprehensive literature surveys. Based on this background, this paper reviews empirical studies on Japanese trade and foreign direct investment (FDI). The purpose of this review is to clarify the knowledge gained from previous studies on Japanese trade and FDI as well as to identify gaps in our understanding. In doing so, the paper proposes some directions for future research on trade and FDI in Japan, other advanced countries, and other Asian countries.</p>