Tomoaki Takayama: Rendaku in loanwords This paper presents some aspects of Sino-Japanese and its status in lexicon. It is well known that the sequential voicing of Sino-Japanese words is confined to more restricted part. That might be apparently similar to the situation of the other loanwords, e.g. kappa etymologically originated from Portuguese, which are regarded as having merged into the indigenous stratum Yamato. Sequential voicing, however, occurs in the inside of SJ, not as Yamato, from the phonotactic viewpoint. The SJ is approximately divided into two layers. One of them is, as it were, the vulgarized Sino-Japanese that can be the target of sequential voicing. Another type of productive voicing is found in the morphemic level of SJ. It is not confined to the vulgarized layer, but this derivation is a kind of suffixation that need not have little or no recoverability to non-voiced form, rather than the typical sequential voicing. The Sino-Japanese shows gradation pattern in its stratum in terms of the sequential voicing phenomenon, which is different from the Foreign stratum in Japanese. We also intend to present the historical background behind the status of SJ in lexicon.