全文探討日本政府與日治時期臺灣籍民在東南亞投資間的關係，而得以下發現：1.與臺灣對華南、滿州國經濟關係比較而言，臺灣對東南亞的投資較兩者間的貿易重要。2.與東南亞華僑屬共同的方言群為此項投資之重要基礎。3.日本政府因此而策動此項投資，主要是在1935年之後，而日本的南進政策之後也更加積極。4.在日本政府領臺的前半期日本政府較少策動此項投資，與日本政府在1895至1914年間對東南亞方面南進政策的發展較為消極相當一致。即使未受日本政府動員，臺灣籍民的日本籍身分仍使其分享日本諸多政治經濟優勢。5.相對於在泰國、菲律賓、越南之以小商店為主要營業項目，臺灣籍民在印尼從事製造業者較多，日本政府為印尼臺灣籍民爭取與歐人同等之公司法人地位，或為其因。6.在東南亞的臺灣籍民，於日本認同與引來抗日華僑的抵制間，充分呈顯近代臺灣介於中日之間的兩難處境。7.臺灣籍民在東南亞所投資企業，延續傳統華商從事國際經濟活動的傳統，亦以小規模居多，但也有由傳統走出蛻變的大工廠經營。8.整個臺灣籍民東南亞投資活動的發展，實非前此之研究所說「日治時期臺灣百姓缺乏拓展外銷經驗」一語所可概括論述。

　　　　　By using prewar and early postwar archives and historical sources collected in Taiwan, Japan, the U.S.A. and Singapore, this paper reconstructs Japanese government's relation with Taiwanese investment in Southeast Asia (SEA) during the period of 1895-1945 and obtains the following findings: 1. Taiwan's investment in SEA is more important than the trade in between, by comparison with Taiwan's economic relation with southern China and Manchuria. 2. The common dialect shared by the Taiwanese and the overseas Chinese in SEA paved the way for Taiwanese investment in SEA. 3. Such cultural affinity had not continually motivated Japanese government's mobilization of Taiwanese to invest in SEA until 1935 when Japan's southern advance policy started to be more vigorously pushed. 4. Matching with Japan's total southern advance policy, which paced with the momentum of the second World War, institutions were established step by step to train Taiwanese, preparing them to serve as agents for Japanese companies in SEA selling Japanese goods to overseas Chinese. 5. Before political mobilization, both the holding of Japanese nationality by the Taiwanese and Japan's international political-economic relations helped Taiwanese investment in SEA. Enjoying an equal status to that of the European colonizers in the Dutch East Indies (Indonesia), Taiwanese merchants made the place to have shared more than half of Taiwanese migration in SEA. And, in comparison with small shops Taiwanese maintained in other places of the region, more Taiwanese investments in factories in the Dutch East Indies (Indonesia) would be attributed to the modern commercial law and more protection Japanese government gained for them there. 6. Those Taiwanese who benefited more from Japan's international political-economic order or were more mobilized by Japanese government tended to have more of the Japanese identity. Such Japanese identity these Taiwanese had also resulted in their being attacked by those who were anti-Japanese. 7. The scale of traditional Chinese merchants in international trade tended to be of medium or small size. Mainly extending this traditional character, the enterprises Taiwanese owned in SEA also tended to be so, yet, there were some big Taiwanese enterprises showing a sort of discontinuity from the tradition. Besides, some Taiwanese went even further with their management of international enterprises. 8. When Taiwanese sale of Japanese products in SEA was described by Japan as indispensable, and when the international entrepreneurial experience was being considerably obtained by the Taiwanese, the previous assertion of historians that Taiwan's overseas economic activities under Japanese colonial rule had been so monopolized by Japan's government and zaibatsu that the Taiwanese had no chance for such development has been found to be not well-grounded.