JFC-Micro 2013 · 2015-09-15 · 03 JFC-Micro Outline and International Cooperation 2013 JFC-Micro Outline and International Cooperation 2013 04 Financial Support for Micro and Small

Micro Business and Individual UnitJAPAN FINANCE CORPORATION

JFC-Micro 2013Outline andInternational Cooperation

Printed in Japan

JFC-Micro 2013Outl ine and Internat ional Cooperat ion

01 JFC-Micro Outline and International Cooperation 2013 02JFC-Micro Outline and International Cooperation 2013

JFC-Micro, supporting the development of Micro and Small Enterprises (MSEs)

JFC-Micro stands by youJapan Finance Corporation, Micro Business and Individual Unit (JFC-Micro) is one unit of JFC, which is a comprehensive policy-based financial institution wholly owned by the Japanese government.As a policy-based financial institution, JFC-Micro proactively supports such Micro and Small Enterprises (MSEs) as business start-ups, social businesses and expanding business overseas based on the “Japan Revitalization Strategy” of the Japanese government.

JFC-Micro's core mission is to provide financial support to MSEs, which often have difficulty in securing essential capital from private financial institutions due to their size, the scale of their funding requirements, lack of sufficient collateral, etc.Since its establishment in 1949, JFC-Micro has provided a variety of business loans to MSEs in almost all Japanese industries.

Financial Support for Micro and Small Enterprises Page 03

International Cooperation Page 07-10

Financial Status and Funding Sources Page 11-12

Headquarter and Branch Office Network Page 13-14Supporting MSE’s Overseas Business Expansion Page 04

Variety of Business Loans Page 05-06

In most developing countries, promotion of MSEs is considered to be a key policy for stimulating economic growth, job creation and poverty reduction. However, MSEs often cannot access financial resources due to insufficient collateral and/or lack of a business track record. JFC-Micro has responded to this situation by sharing its accumulated experience and expertise in “MSE Finance” with foreign financial institutions.

JFC-Micro gets its funding from a variety of sources. These include borrowings from the Fiscal Investment and Loan Program (FILP), government-guaranteed bonds, FILP agency bonds and capital contributions from the government.

JFC-Micro has a nationwide network to meet the needs of regional MSEs. JFC-Micro services are provided through 152 branch offices across Japan. “Business Start-up Support Centers” and “Business Support Plazas” set up at major branch offices offer assistance tailored to the needs of newly launched businesses.

Other Loans for Supporting the Lives of PeopleIn addition to business loans to funding MSEs, JFC-Micro provides other types of loans as follows.

■Educational LoansJFC-Micro began extending loans to cover education-related expenses in 1979, as families struggled to meet the increasingly high cost of putting children through high school, college and university.

■Loans Secured by PensionsJFC-Micro is the only organization in Japan authorized to make loans secured by pensions.

Complementing Private Sector in SME FinanceJFC-Micro complements private financial sector activity by providing a stable supply of funds to MSEs even in challenging economic and financial environments.

Source: Bank of Japan, Financial Services Agency, JFC Notes: 1. “Domestic banks” refers to commercial banks, regional banks, trust banks, credit associations and credit unions.

2. Excludes overseas yen loans, loans for local governments, and personal loans (housing, consuming, etc.) as for commercialregional banks, credit associations.

JFC-Micro provides both information and funding support for MSEs seeking to capture growth potential outside of Japan, particularly in Asia.

As MSEs have diverse needs that vary depending on their particular situation, JFC-Micro offers a variety of business loans. ・JFC-Micro plays an important role as “Safety-net” for companies buffeted by unexpected changes in economic circumstances,

such as a global financial crisis. ・Following the Great East Japan Earthquake of March 11, 2011, JFC-Micro began providing “the Great East Japan Earthquake

Recovery Special Loans” to help MSEs negatively influenced by the disaster.・JFC-Micro actively supports business start-ups by providing the funding they need to move forward. JFC-Micro offers a

selection of programs and schemes to meet the needs of business start-ups.・For companies having difficulty coming up with collateral and guarantors, JFC-Micro offers “Managerial Improvement Loans”—

which do not require any collaterals or guarantors—under a collaboration with Chambers/Societies of Commerce and Industry.

Growth Rate Changes in Outstanding Loans to SMEs

-10

-15

-5

0.0

5

10(%)Year-on-year JFC-Micro Domestic banks

10 11 12(Fiscal Year)

090807060504030201

Lehman Shock

“Graduates of JFC-Micro”

Even today’s major worldwide enterprises were just small companies with only a few employees when they started their businesses. Companies such as SONY, KYOCERA, MIKIHOUSE received financial support from JFC-Micro at their initial stage. Since then, they have achieved rapid growth and become leading enterprises. We can say that they are “Graduates of JFC-Micro.”

Profile of JFC-Micro (As of March 31, 2013)

Founded June 1949

Branches 152

Business Loans Outstanding

¥6,385 billion

Number of Borrowers 958,000


Financial Support for Micro and Small Enterprises Supporting MSE’s Overseas Business Expansion

JFC-Micro acts as a policy-based financial institution. It provides business loans to Micro and Small Enterprises (MSEs) and business start-ups, which have difficulty securing funds from private financial institutions. JFC-Micro loans and its borrowers have distinctive characteristics.

JFC-Micro set up the Loans for Overseas Investment to support overseas business expansion in December 2011.As a result, in FY 2012 the total number of loans was 462. The figure shows not only major worldwide enterprises but also many MSEs have been strongly motivated to expand their businesses overseas.A notable feature of this loan is that approximately 50% were provided to wholesalers and retailers. In addition, approximately 80% of borrowers extended their businesses to Asia, such as China and the ASEAN countries.

Borrowers Large number of MSEs representing almost every industry

■Breakdown of Borrowers by Number of Employees (FY 2012)Approximately 90% of companies have fewer than 10 employees

■Breakdown of Borrowers by Type of Borrowers (FY 2012)

■Breakdown of Loans by Industry (FY 2012) ■Breakdown of Borrowers by extended country (FY 2012)

In April 2012, Overseas Expansion Support Desks were set up in 152 branch offices to provide detailed consultation services.In addition, through its Long-term Technical Assistance Project, International Seminars and Conferences, and Acceptance of Foreign Missions, JFC-Micro has built an international network with overseas financial institutions and government organizations. These networks provide MSEs with the essential financial and information support they need to expand overseas.

JFC-Micro

152 branch officesnetwork in Japan

(Overseas ExpansionSupport Desks)

A Memorandum ofUnderstanding (MOU)exchangedInstitutions OverseasSME Bank (Malaysia)

Ministry of Planningand Investment,VietinBank (Vietnam)

• To exchange information on MSE financing and the investment environment• To share expertise related to MSE financing• To coordinate MSEs in entering other countries

Customers in Japan and Overseas

Support

Cooperation

Approximately 40% of borrowers are solo proprietors

Loans

■Breakdown of Loans by Collateral (FY2012)Approximately 70% have no collateral.About 30% are no collateral, no guarantors.

■Breakdown of Loans by Industries (FY 2012) ■Breakdown of Borrowers by Business History (FY 2012)Wide variety of business history

No collateral is common

74.1%29.4% 14.0%

25.9%

66.4%

24.4%

22.4%

15.2%

12.0%

8.4%

17.6%14.9%

29.5%

18.4%14.5%

12.4%

10.3%

42.8%50.2%

7.0%

20.9%

20 or more10-19

5-9

Nearly all industries are covered

Restaurants/Hotels

Others

Manufacturing

Construction

No collateral, No guarantor Partially secured by collateral

Collateral(Secured by real estate)

No collateral

Services

Wholesale, Retail

50 or more years

40-49 years

30-39 years

20-29 years

10-19 years

Less than 10 years

Solo Proprietors

Corporations(Paid-in capitalbelow ¥10 million)

Corporations(Paid-in capital¥10 million or above)

4 or less

8.4%4.2%

49.4%

29.7%

14.9%

3.7%2.4%

Wholesale, Retail

Manufacturing

Services

OthersInformation andTelecommunications

12.6%

77.9%

44.4%

11.4%

8.6%

5.0%

3.6%

7.8%

7.5%

5.8%5.8%

19.1%

36.4%

2.8%

6.7%

Asia

USA

RussiaOthers

China

ThailandVietnam

Philippines

Singapore

Others

Others

Taiwan

ASEAN

OtherAsia

Korea

Notes: 1. Figures for Credit Associations and Banks do not include loans to individuals (loans for housing, consumption, tax payments, etc.), loans to regional public organizations, overseas yen-loans, or loans made to businesses in foreign countries in the name of their domestic branches.

2. The total number of companies in Japan is approximately 4.2 million (2009).Source: Bank of Japan website

■ Comparison with Other Financial Institutions

JFC-Micro(only)

Credit Associations(270 credit associations)

Banks(140 banks)

Number of Borrowers 0.95 million 1.14 million 2.03 million

Loan Outstanding per Customer ¥6.66 million ¥35.76 million ¥84.62 million

(As of March 31, 2013)


In order to meet diverse needs of Micro and Small Enterprises (MSEs), JFC-Micro provides four types of business loans: 1. General Loans; 2. Special Loans; 3. Environmental Health Business Loans; and 4. Managerial Improvement Loans (MARUKEI Loans).

3. Environmental Health Business LoansEnvironmental Health Business Loans are designed to improve the public hygiene and sanitation levels of restaurants, barbershops, beauty salons and laundries, among other businesses. • Maximum amount: between ¥72 and ¥400 million (for equipment fund)

4. Managerial Improvement Loans (MARUKEI Loans) No collateral, no guarantorsMARUKEI Loans have been utilized by MSEs that have received managerial advice and recommendations from heads of local Chamber/Societies of Commerce and Industry.Based on a formal recommendation from local Chambers of Commerce and Industry (CCI) or Societies of Commerce and Industry (SCI), JFC-Micro provides the loan without collateral or guarantors. This loan program aims at promoting managerial improvement of MSEs, together with managerial advice from CCIs or SCIs, from a financial aspect. Close collaboration between CCIs/SCIs and JFC-Micro makes it possible to provide these no collateral and no guarantors loans. • Maximum amount: ¥15 million

Requirements for Applying the Recommendation from CCI/SCI1. MSEs with a certain number of employees or less (in case of manufacturing, 20 or less)2. Having paid their taxes in full3. Having been in business in the same area for more than one year4. Having received business consultation from CCI/SCI for more than six months (in principle)

1. General LoansGeneral Loans have been utilized by MSEs in almost all industries since JFC-Micro’s establishment. • Maximum amount: up to ¥48 million (¥72 million for specified equipment fund)

2. Special LoansSpecial Loans have been set up based on specific policy objectives, such as helping MSEs restructure and update their businesses. Business Start-up Loans and Safety-net Loans are included in this category. • Maximum amount: up to ¥72 million (up to ¥48 million for working fund)

Support for recovery and reconstruction in wake of the Great East Japan Earthquake

JFC-Micro responded promptly and effectively to inquiries from customers who sustained damage or were affected by the Great East Japan Earthquake.The total value of “the Great East Japan Earthquake Recovery Special Loans” disbursed between March 11, 2011 and March 31, 2013 amounts to ¥1,915 billion.

Customers

Chambers/Societies of Commerce and Industry (CCI/SCI)

Assessment Committee

3. Evaluation Report

1. Managerial Advice 2. Application 5. Loan

4. Recommendation for Loan

Management CounselorsJFC-Micro

Loan Procedure

The Great East Japan Earthquake Recovery Special Loans Disbursement(From March 11, 2011 to March 31, 2013) Outline of the Loans

Available for Maximumamount

¥60 million (Extra amount)

¥48 million(Extra amount)

MSEs affected directly by the disaster or Nuclear Power Station IncidentMSEs affected indirectly by the disaster or Nuclear Power Station Incident

Other MSEs affected by the disaster, such as harmful rumors

■Number of Loans (FY 2012) ■Amount of Loans (FY 2012)54 (2.2%)

148 (6.1%)

172 (7.2%)

2,033(84.5%)

9,509 (3.4%)17,054(6.2%)

40,047(14.5%)

209,392(75.9%)

Total276,002

Total2,407

billion yen

Environmental HealthBusiness Loans

General Loans

MARUKEI Loans

Special Loans

Encouragement of Business Start-upsBusiness Start-ups play a very important role in terms of creating new businesses, job opportunities and promoting competition, among other positive impacts. In general, start-ups find it difficult to secure funds from the private sector due to the lack of a track record and sufficient collateral, and so on. As a policy-based financial institution, JFC-Micro actively supports business start-ups.

JFC-Micro’s Support

The Number of loans disbursement “Women, Youth and Senior Entrepreneurs Fund” (FY 2012)

The number of business that utilized JFC-Micro’s Business Start-up Loans came to 19,469 in FY 2012, creating an estimated 77,876 job opportunities.

Support for Women, Youth and Senior EntrepreneursIn order to support entrepreneurs more effectively, JFC-Micro set up a “Women, Youth and Senior Entrepreneurs Fund.”

*The number of business start-ups refers to the total of prior to and within 1 year of start-up.The average number of employees at time of business start, based on Survey on Business Start-ups in Japan (FY 2012) by the JFC Research Institute.

Variety of Business Loans

19,469*business start-ups

For women entrepreneurs

3,226 loans

For youth entrepreneurs(aged under 30)

1,549 loans

For senior entrepreneurs(aged 55 and over)

1,196 loans

4.0employees (average)

77,876job opportunities

0

100

200

0

500

1,000

1,500

2,000

September 30,2011

March 31,2012

September 30,2012

March 31,2013

(Billions of yen) (Thousands)

76.3 1,782 1,9151,443

179.8193.3145.4

757

International Cooperation


In recent years, more and more developing countries have recognized the importance of promoting Micro and Small Enterprises (MSEs) to achieve sustainable economic growth. Particularly, in respect to poverty reduction and job creation, enhancing “MSE Finance” is considered one of the essential economic policies for these countries.For the purpose of transferring “MSE Finance,” experience and expertise, JFC-Micro set up its International Cooperation Office (ICO) in March 2001. ICO has contributed to international cooperation through the following three types of activities: 1. Long-Term Technical Assistance Project; 2. International Seminars and Conferences; and 3. Acceptance of Foreign Missions.

Project for Lao Development Bank

Collaboration with SME Bank, Malaysia

Project for Vietnam Bank for Social Policies (VBSP)

Hot topic “To the next stage with Myanmar”

SME Bank was established in 2005 under a policy of the Malaysian government in order to meet a strong demand for funds from MSEs in Malaysia. Based on the request from SME Bank, JFC-Micro joined technical cooperation project launched from 2008, and supported SME Bank to improve its practical credit analysis methods.

Although this project wrapped up in 2011, JFC-Micro and SME Bank sought further cooperation for the purpose of developing MSE finance and promoting the growth of our respective clients. As a consequence, JFC-Micro and SME Bank reached agreement on developing our bilateral relationship into a business partnership and concluded an MOU.The MOU aims to provide opportunities for both parties to share information and expertise related to MSE finance. We also have a plan to offer MSEs in both countries the opportunity to expand their networks and meet potential business partners.

In order to reduce poverty in Vietnam, VBSP started policy-based lending in 2003.At the beginning, however, most employees did not have experience conducting credit analysis for MSEs. As such, JFC-Micro has been sharing its know-how with VBSP under an ODA project. A lot of achievements are reported so far, and have been highly evaluated.

(February 18-21, 2013 in Myanmar)Staff from the International Cooperation Office visited Myanmar and met some highly placed government officials. As Myanmar is one of prominent countries in which MSEs are considering to expand their business overseas, the main purpose of this visit was to establish international

networks in order to support such MSEs. Actually, the outcome of “Loans for Overseas Investment” aiming at expanding business in Myanmar results in 400% up from the same term last year.Meanwhile, under the situation of undeveloped financial infrastructure, they also seemed to recognize that JFC-Micro’s significant role and expertise in MSE finance is noteworthy in making MSE finance more facilitating.

(June 18, 2013 in Japan)The Myanmar government delegation, led by Tin Naing Thein, Union Minister, visited JFC. They had a fruitful discussion with some members from JFC-Micro and SME Unit to share practical experience and knowledge regarding effective operation of financial institutions dealing with MSEs.They also agreed to work for future mutual cooperation in order to support MSEs in both countries.

Lao Development Bank (LDB) was established in April 2003 by merging two state-owned commercial banks-Lao Xang Bank and Lao May Bank. LDB provides a wide range of financial services and now plays an important role as a financial institution promoting MSEs in Laos.Under the government policy, LDB puts more importance on MSE finance. As such, LDB approached JFC-Micro, which has more than 60 years’ experience in MSE finance, and asked JFC-Micro to provide its know-how through an ODA project of the Ministry of Finance (MOF)’s Policy Research Institute (PRI).The objective of this project is to develop LDB’s human resources and to improve its credit operations.

◦ Preliminary Survey in Laos (Mar. 2011)Conduct a field survey and discuss a feasibility of technical cooperation

◦ Signing Ceremony (Jun. 2011)Sign the MOU to start this project

◦ 1st Seminar in Laos (Dec. 2011)Conduct 2-day seminars on Credit Analysis for MSEs in three cities (Luang Phabang, Pakse, and Vientiane)

◦ 2nd Seminar in Japan (Jun. 2012)Visit to JFC-Micro’s head office and branches to learn practical know-how on Credit Analysis for MSEs

◦ Mid-term evaluation (Oct. 2012)Conduct a field survey to evaluate how LDB has disseminated the 1st and 2nd seminar

◦ 3rd Seminar in Laos (Feb. 2013)Conduct 2.5-day seminars on Credit Analysis for MSEs in three cities (Luang Phabang, Pakse, and Vientiane)

◦ 4th Seminar in Laos (Aug. 2013)Conduct 4-day seminars on Case-Study in two cities (Xiengkhouang and Vientiane)

Long-Term Technical Assistance Project1

◦ Outline of LDB (as of August 2013)

Organization: State owned Commercial Bank

Branch Offices: 18 Branches 64 Service Units 22 FX Units

Employees: 1,319

Loans Outstanding: LAK 5.77 trillion

Objectives

Phase 1(2003-06) Improvement of VBSP’s Staff’s Ability

Phase2 (2006-08) Dissemination of “Credit Analysis Material”

Phase3 (2009-11) Establishment of an Independent Training Course on Credit Analysis

International Cooperation


International Cooperation Activities in FY 2012

Long-Term Technical Assistance Projects and International Conferences

Date(s) Activities Location

June 4-15 2nd Seminar for Lao Development Bank (LDB) Japan

July 19-20 Ninth Annual Meeting of APEC Financial Institutions Dealing with SMEs Philippines

September 6 Meeting with Vice Minister of Ministry of Industry and Commerce, Laos Japan

September 11 Meeting with Managing Director of Malaysia SME Bank Japan

October 2-3 Mid-term evaluation for LDB Laos

October 11 Signing MOU with Agency of Enterprise Development, Vietnam Vietnam

January 27–February 6 3rd Seminar for LDB Laos

Acceptance of Foreign Missions and Meetings

Date(s) Missions, etc.

July 17-18 JICA “The Policy of Regional Industry Promotion for South East European Countries” Seminar

August 15 PRI “The Summer Seminar for Central Asian and Caucasian Countries”

August 23 JICA “Financial and Technological Support for Small and Medium Enterprises Promotion (A)”

August 28, 30-31APRACA-CENTRAB “International Study Visit Program on Micro, Small and Medium Enterprise, the Japanese Way 2012”

September 11 JICA “Small and Medium Enterprise Development Policies (D)”

September 27JICE “The Study of Key Technical Counseling and Incubation Policy for Small and Medium Enterprise in Japan”

October 5 Meeting with Small and medium Business Corporation (Korea)

October 10 Meeting with the Delegation of “Bank for Agriculture and Agricultural Cooperatives (BAAC)” from Thailand

October 22 JICA “Financial and Technological Support for Small and Medium Enterprises Promotion (B)”

November 21Meeting with the Delegation from Vietnam and the Assistant Program for SME of Vietnam Chamber of Commerce and Industry (VCCI) in the economic crisis

November 28 JICA “Financial and Technological Support for Small and Medium Enterprises Promotion (C)”

November 30 Meeting with the delegation from State Bank of Vietnam

December 3 Meeting with Korea Institute of Finance

February 1 JICA “Small and Medium Enterprise Development Policies (A)”

February 5JICA “Training Program for Young Leaders for India / Community Small and Medium Enterprises Development”

February 12, 15 JICA “Small and Medium Enterprise Development Policies(C)”

February 13 JICA “Tokyo Workshop on the Program for Economic Development”

February 14APRACA-CENTRAB “International Exposure Visit Program on Agricultural Finance and Credit Cooperatives”

March 1 JICA “Small and Medium Enterprise Development Policies (B)”

March 4 JICA “Necessary Policy Measures and Reform Strategies for Financial System Stability in NIS Countries”

International Seminars and Conferences

Acceptance of Foreign Missions, etc.

2

3

JFC-Micro staff represents the organization at international seminars/conferences related to “MSE Finance” hosted by international organizations and foreign institutions. At these events, JFC-Micro staff provides information about Japanese experience in the field of “MSE Finance” through lectures or presentations.

JFC-Micro accepts missions (trainees, study groups, and dignitaries) from various countries every year. On such occasions, JFC-Micro gives lectures on MSE finance in Japan, the roles and functions of JFC-Micro and other relevant topics.In FY 2012, JFC-Micro had a meeting with the Delegation from Vietnam and discussed the assistant program for SME of Vietnam Chamber of Commerce and Industry (VCCI) in the economic crisis.JFC-Micro accepted 20 foreign missions in FY 2012. More than half of them are part of training programs conducted by JICA.

Annual Meeting of APEC Financial Institutions Dealing with SMEs

“Financial Gap” in SME Finance

JFC has been a member of Memorandum of Understanding (MOU) by Asia-Pacific Economic Cooperation (APEC) financial institutions dealing with SMEs since 2003. The signatory members consist of 14 financial

institutions from 11 economies in the APEC region.The purpose of the meeting is to promote mutual cooperation among member institutions aimed at supporting SMEs in the APEC region. The meeting is held annually, and its results are reported to the APEC Finance Minister’s Meeting. In 2013, JFC-Micro and JFC Small and Medium Enterprise (SME) Unit sent a joint delegation to the 10th meeting in Singapore.

In developing countries, two types of financial systems have been available to Micro/Small enterprises. One is “Traditional SME Finance,” which is conducted by commercial banks for SMEs with relatively solid bottom lines and necessary financial data. The other is “Micro Finance,” which is for low-income groups and micro enterprises. Between these two financial systems, we can see a “Financial gap.” Enterprises in the gap are mainly Micro/Small enterprises. They have difficulty in raising funds from commercial banks because they lack collateral-worthy assets and appropriate financial data. On the other hand, Micro/Small enterprises are not satisfied with loans from microfinance institutions because the amounts are too small for their needs.We think a new type of financial system—“MSE Finance”—can bridge the gap and that JFC-Micro loans are positioned as “MSE Finance.”

“Financial Gap”

MSEFinance

JFC-Micro Loans

TraditionalSME Finance

Highly-performingSMEs

Micro FinanceLow Income groups,

Micro Enterprises


Financial Status and Funding Sources

Balance Sheet (As of March 31, 2013)

Assets

Cash and due from banks 57,586

Loans and bills discounted 7,001,783

Other assets 14,230

Property, plant and equipment 99,604

Intangible assets 6,546

Allowance for loan losses ▲ 155,983

Total assets 7,023,768

Income Statement (From April 1, 2012 to March 31, 2013)

FY 2012

Ordinary income

Interest income 141,501

Fees and commissions 4

Receipts from the national budget 16,598

Other income 1,018

Total ordinary income 159,123

Ordinary expenses

Interest expenses 33,055

Fees and commissions payments 921

Other ordinary expenses 359

General and administrative expenses 66,752

Other expenses 59,114

Provision of allowance for loan losses 49,237

Written-off of loans 9,490

Other 385

Total ordinary expenses 160,203

Ordinary loss 1,079

Extraordinary income 633

Extraordinary losses 920

Net loss 1,366

Information on Non-performing Loans(Billions of yen)

Loans to bankrupt parties (A) 25.3 (0.4%)

Loans to likely bankrupt parties (B) 147.3 (2.1%)

Loans overdue for three months or more (C) 0 (0%)

Restructured loans (D) 555.7 (7.9%)

Total 728.3 (10.4%)

(Millions of yen)

Liabilities

Borrowed money 5,543,374

Bonds payable 829,874

Other liabilities 14,501

Provision for bonuses 2,414

Provision for directors’ bonuses 5

Provision for retirement benefits 122,917

Provision for director’s retirement benefits 44

Total liabilities 6,513,132

Net assets

Capital stock 949,207

Capital surplus 181,500

Retained earnings ▲ 620,071

Total net assets 510,635

Total liabilities and net assets 7,023,768

Government

Stock Dividends, etc.

EquityContribution

Investment Loan Loan Government-guaranteedBonds

JFC-MicroBonds

Deposit FILP Bonds

Money FlowBond Issue

FILP

FILP：Fiscal Investment and Loan Program

NTT, JT, etc.

GeneralAccount

FILPSpecial Account

FILP Special Account

(Fiscal Loan Fund)

Special AccountSurplus Reserve, etc. Financial Market

JFC-Micro

(Millions of yen)

Note: Figures in parentheses denote percentage against Loans and bills discounted.

Items are defined as follows:(A): Loans to borrowers classified by the self-assessment as bankrupt parties.(B): Loans to borrowers classified by the self-assessment as parties likely to go bankrupt.(C): Loans whose principal or interest is overdue for more than 3 months, as accounted from the day next to due date, not including loans to

bankrupt parties (A) and loans to likely bankrupt parties (B).(D): Loans whose repayment conditions have been modified to accommodate each borrower’s situation, such as postponement of payment of

principal and/or interest, but not including loans classified under categories (A), (B) and (C).

■ Funding Sources


We have 152 branch offices throughout Japan (excluding Okinawa).

Business Start-up Support Centers (15)(Hokkaido, Tohoku, Kita-Kanto Shinetsu, Tokyo, Tama, Minami-Kanto, Hokuriku, Nagoya, Kyoto, Kobe, Osaka, Chugoku, Shikoku, Fukuoka, Kumamoto)

Business Support Plazas (3)(Tokyo, Nagoya, Osaka)

Sapporo(2 branches)

Kyoto(2 branches)

Kitakyushu(2 branches)

Fukuoka(2 branches)

Kobe(2 branches)

Osaka Pref.(11 branches)

Nagoya(3 branches)

Yokohama(2 branches)

Tokyo Metropolis(14 branches)

Saitama(2 branches)

Japan Finance Corporation,Micro Business and Individual Unit1-9-4, Otemachi, Chiyoda-ku, Tokyo, Japan 100-0004Tel: +81-3-3270-1527 Fax: +81-3-3270-1481Email: [email protected]

Contact Us

Get more information!

International Cooperation Office (in Headquarters)

Website:

Service Area: Thailand, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippine, Singapore, Vietnam

Japan Finance Corporation, Small and Medium Enterprise Unit9th Floor, Park Ventures Ecoplex, 57 Wireless Road, Lumpini, Patumwan, Bangkok 10330, ThailandTel: +66-2-252-5496 Fax: +66-2-252-9991

Overseas Network

Representative Office in Bangkok

Service Area: China (including Hong Kong, Macau, Taiwan)

Japan Finance Corporation, Small and Medium Enterprise UnitR. N. 1616, Shanghai International Trade Center, No.2201, Yan An Xi Lu, Shanghai 200336 P.R. ChinaTel: +86-21-6275-8908 Fax: +86-21-6275-8909

Representative Office in Shanghai

Branch Office Network

Headquarter and Branch Office Network

Please visit our website for more information about JFC-Micro and its international cooperation activities.

Newsletter:

Please read our newsletter for more information about JFC-Micro's international cooperation activities.

URL http://www.jfc.go.jp/n/english/index.html

JFC-Micro Search

Micro Business and Individual UnitJAPAN FINANCE CORPORATION

JFC-Micro 2013Outline andInternational Cooperation

Printed in Japan

JFC-Micro 2013Outl ine and Internat ional Cooperat ion

Documents

JFC-Micro 2013 · 2015-09-15 · 03 JFC-Micro Outline and International Cooperation 2013 JFC-Micro Outline and International Cooperation 2013 04 Financial Support for Micro and Small