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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
03 JFC-Micro Outline and International Cooperation 2013 04JFC-Micro Outline and International Cooperation 2013
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)
05 JFC-Micro Outline and International Cooperation 2013 06JFC-Micro Outline and International Cooperation 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
07 JFC-Micro Outline and International Cooperation 2013 08JFC-Micro Outline and International Cooperation 2013
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
09 JFC-Micro Outline and International Cooperation 2013 10JFC-Micro Outline and International Cooperation 2013
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
11 JFC-Micro Outline and International Cooperation 2013 12JFC-Micro Outline and International Cooperation 2013
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
13 JFC-Micro Outline and International Cooperation 2013 14JFC-Micro Outline and International Cooperation 2013
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
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Micro Business and Individual UnitJAPAN FINANCE CORPORATION
JFC-Micro 2013Outline andInternational Cooperation
Printed in Japan
JFC-Micro 2013Outl ine and Internat ional Cooperat ion