Nippon Export and Investment Insurance
Nippon Export and Investment Insurance

Corporate Profile

About NEXI
Organization Name

Nippon Export and Investment Insurance

Date of Establishment

April 1, 2017

Act

Trade and Investment Insurance ActPurpose

To conduct insurance business to cover risks which arise in foreign transactions not covered byordinary insurance

Competent Minister

The Minister of Economy, Trade and Industry

CapitalJPY 169,352,324,369- (100% State-owned)

Executive Officers

Chairman and CEO ………………………………………… Atsuo Kuroda
President…………………………………………………… Masafumi Nakada

Senior Managing Executive Ofﬁcer, Member of Board … Keiji Wada
Senior Managing Executive Ofﬁcer, Member of Board … Hidenobu Teramura
Member of Board …………………………………………… Hideo Teramoto
Audit & Supervisory Board Member (Full-Time) ………… Keishi Nakamura
Audit & Supervisory Board Member ……………………… Akio Otsuka
Audit & Supervisory Board Member ……………………… Tomoyo Matsui
Number of Employees

195 (as of April 1, 2019)

Brief History

Apr 2001

Establishment of Nippon Export and Investment Insurance (NEXI) as an
Incorporated Administrative Agency

Jul 2015Enactment of Act Revising a Section of the Trade and Investment Insurance Act

Apr 2017

Establishment of Nippon Export and Investment Insurance (“new” NEXI) as a
special stock company(From 1950 through 2001, the trade and investment insurance was handled by
the Ministry of Economy, Trade and Industry, the former Ministry of International
Trade and Industry.)

Domestic Offices

Head Ofﬁce: Tokyo
Branch Ofﬁce: Osaka

Overseas Offices

Branch Office: Singapore
Representative Offices: Paris and New York

<About ﬁgures on page 4>

In principle, ﬁgures in this report are rounded to the nearest unit. Therefore, the sum of individual ﬁgures may deviate from the sumpresented. Figures that fall below a unit as a result of rounding are indicated as “0”; if there is no corresponding ﬁgure, “‒” isindicated.
Figures in the trade and investment insurance business are on a ﬁscal period basis unless otherwise noted.
●＜Statistical data creation policy＞

Underwritten amount and outstanding commitment are based on the insurance policy issuing date. The interest at the time ofinsurance contract is used for calculation, except for outstanding commitment of insurance with ﬂoating interest cover option.
In such cases, interest at the end of the ﬁscal year is used.

●In calculating the underwritten amount, the exchange rate on the insurance contract date is used.

●

Outstanding commitment, including that underwritten in the previous years, is based on the actual insurance amount calculated
by using the exchange rate at the end of each ﬁscal year, not based on the insured amount of policies with a special clause forforeign currency risk.

2 NEXI Corporate ProﬁleNEXIʼs Insurance Business
Trade and investment insurance covers risks associated with international trade and other overseas transactions that cannot
be covered by private-sector insurance.
The purpose of trade and investment insurance is to support and promote the overseas expansion of companies by mitigating
the risks associated with foreign trade and overseas investment.

Government 100% Equityof Japan

Insurance
ContractJapaneseCompany

Export,investment,financing,etc.

Foreign Country
Foreign Company
Overseas Project

Trade and investment insurance covers losses incurred by Japanese companies, banks, etc. due to the following risks.

Political Risk※● Restriction or prohibition on foreign exchange transactions, restriction or prohibition on imports● War, civil war, revolution, etc.
● Delay in the remittance of foreign currencies attributable to the paying country● Punitive tariffs, terrorism● Sanctions imposed by the UN or countries other than destination countries● Expropriation● Natural disaster, or any other state of emergency which cannot be considered attributable to the party
to the contract

Commercial Risk※● Non-payment by the counterparty for 3 or more months (except for cases where the exporter isdeemed liable for claims made by the counterparty, such as damages or defects)● Bankruptcy of the counterparty● Other reasons equivalent to bankruptcy● Unilateral cancellation of export contracts with foreign governments, etc. before shipment(Unilateral cancellation by private buyers before shipment is only covered under a separate specialclause.)※Political Risk: Risk caused by force majeure events that cannot be considered attributable to the party to the contract (alsoreferred to as Country Risk)※Commercial Risk: Risk that can be considered attributable to the counterparty to the overseas transaction (also referred to asCredit Risk)NEXI Corporate Proﬁle 3

FY2018 Review of Performance
Underwritten Amount by Insurance TypeThe underwritten amount decreased by 13.9% year on year to approximately JPY 6.3 trillion in FY2018. This is mainly due todeclining performance in Export Credit Insurance and Overseas United Loan Insurance, affected by a decrease in the numberof large scale transactions and overseas-plant related projects. Meanwhile, Overseas Investment Insurance increased by
11.0% to JPY 0.7 trillion.
(FY)

2014

6.7

2015

0.2
6.4

2016

5.3

2017

0.3

0.1 0.4
5.9

2018
00.00.74Export Credit Insurance

0.5

0.3 8.5

0.8
0.5

7.8

0.2

0.4 0.2 6.3
0.1

5.00.5

0.4 0.2 7.3

0.6

0.3 0.2

6.3

6Buyer s Credit Insurance

8Overseas Investment Insurance

10 （Trillions of Yen）

Overseas Untied Loan Insurance

Others※Others: Trade Insurance for Standing Orders from Speciﬁc Buyers, Export Credit Insurance for SMEs and AFF Sector, Comprehensive Export
Insurance with Simpliﬁed Procedure, Export Bill Insurance, Prepayment Import Insurance, and reinsurance.

Underwritten Amount by RegionAsia continued to account for the largest share with 52.5% (approximately JPY 3.5 trillion), followed by the Middle East with
9.9% (JPY 0.7 trillion).
(FY)

2017

49.4

2018

8.9

52.5

020
Asia

Middle
East

9.0

9.9

40
CentralAmerica

8.9

5.6

9.7

9.5

60
South
America

Europe7.5

3.9

5.7 1.3

6.6

4.5 4.1 2.0 1.2

100 （%）

80
North
America

AfricaInternationalorganizations

Oceania

Outstanding Commitment by Insurance TypeThe outstanding commitment decreased by 2.5% year on year to approximately JPY 14.0 trillion in FY2018.
(FY)

2014

7.82015

1.1

1.5

3.5

0.8

0.9

1.5

3.3

0.8

8.0

2016

7.4

2017

7.5

2018

7.00
Export Credit Insurance

4Buyer s Credit Insurance

0.9

1.5

3.4

0.9

1.5

3.5

0.9

1.6

8
Overseas Investment Insurance

0.9
0.9

14.5

14.1

0.8

3.6

14.6

14.3

14.0

12
Overseas Untied Loan Insurance

16（Trillions of Yen）
Others※Others: Trade Insurance for Standing Orders from Speciﬁc Buyers, Export Credit Insurance for SMEs and AFF Sector, Comprehensive ExportInsurance with Simpliﬁed Procedure, Export Bill Insurance, Prepayment Import Insurance, and reinsurance.

4 NEXI Corporate ProﬁlePromotion of Collaborations in Third Countries

May2018

Concluded MOUwith MIGA

Concluded Reinsurance

Entered into a One-Stop-Shop Reinsurance Agreement with the Export Development Canada (EDC),
Canada’s export credit agency (ECA).

Concluded MOU
with EIB

Signed a MOU on cooperation with the European
Investment Bank (EIB), an international financialinstitution.

Concluded MOU
with SINOSURE

Executed a MOU with China Export & Credit Insurance Corporation (SINOSURE), the ECA of China, inconjunction with the holding of the Japan-China
Forum on Third Country Business Cooperation.

Concluded MOUwith ECGCEntered into a MOU with the Export Credit Guarantee
Corporation of India (ECGC).

September Agreement with EDC
2018

October
2018

Concluded Trilateral

November MOU between NEXI,
2018

Australia s DFAT
and EﬁcMarch

Concluded MOU
with Ministryof Economy andSustainable Developmentof Georgia

2019

Signed a memorandum of understanding (MOU) withthe Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, to promote
cooperation between the parties in the field of reinsurance.

Entered into a Trilateral MOU on cooperation with theAustralia’s Department of Foreign Affairs and Trade(DFAT) and the Export Finance and Insurance Corporation (Efic). The exchanging ceremony of signed
MOU documents was held in the presence ofJapanese Prime Minister Shinzo Abe and AustralianPrime Minister Scott Morrison on the same day ofsigning the MOU.

Signed a MOU on cooperation with the Ministry ofEconomy and Sustainable Development of Georgia
during the Japan-Georgia Business Forum, in thepresence of Georgia’s Prime Minister Mamuka
Bakhtadze, Japan’s Parliamentary Vice-Minister ofEconomy, Trade and Industry Akimasa Ishikawa, andAmbassador Extraordinary and Plenipotentiary ofJapan to Georgia Tadaharu Uehara.

NEXI Corporate Proﬁle 5

Underwritten Projects

Jawa 1 LNG to Power ProjectIndonesia

NEXI has provided loan insurance for a project inIndonesia, which is aimed at constructing and operating
both a 1,760MW gas-fired power plant and a 170,000m³ FSRU.
The project has been rolled out by two companies: 1) PT Jawa Satu
Power sponsored by investors including Marubeni Corporation,Sojitz Corporation and PT Pertamina (Persero), and 2) PT Jawa Satu
Regas sponsored by those such as Mitsui O.S.K. Lines, Ltd. and thepreviously mentioned three companies.
Date of signing the loan insurance contract: October 2018

Rendering image of the plant with FSRU,
provided by Marubeni Corporation

Date of signing the loan insurance contract for guarantee
obligation: December 2018

Oman

Sharqiyah Seawater Desalination ProjectNEXI has provided insurance to support a project
to construct a seawater desalination plant in Sharqiyah,
Oman, and to sell approximately 80,000m³ per day ofdesalinated water. The project is promoted by JGC Corporation,
United Infrastructure Development Company LLC and Doosan
Heavy Industries & Construction Co., Ltd.
Date of signing
the insurance contract:
July 2018

Cote d'Ivoire

Export of Komatsu Mining Equipment

NEXI insures export of mining Equipment
manufactured by Komatsu Ltd. to Cote d'Ivoire. The
export will be made under deferred payment that extends forfive years. This is the first time that we have provided insurance forexport with deferred payment of more than two years to a
Sub-Saharan African country.
Date of signing
the insurance contract:
March 2018
Photo provided by Komatsu Ltd.

Photo provided by JGC Corporation

Colombia

Support for Boeing 787 Aircraft
Export to Avianca Airlines

UKEF has provided export credit for the export ofa Rolls-Royce powered Boeing 787, with NEXI
reinsuring UKEF credit for the export.
Date of signing
the reinsurance contract:
December 2018
Photo provided by The Boeing Company

Singapore

Abrasive Exports

Matsumi Kenmazai Co., Ltd., located inthe city of Kyoto in Kyoto Prefecture, employs
Trade Insurance for Standing Orders from Specific
Buyers for its exports of abrasives to Singapore.
Date of signing the insurance contract:
September 2018
Photo providedby Matsumi Kenmazai Co., Ltd.

6 NEXI Corporate ProﬁleEmirateof Sharjah

Al Layyah Gas-Fired Combined-Cycle
Power Plant ProjectThis is a project in which Sharjah Electricity andWater Authority will construct a 1,026.3 MWgas-fired combined-cycle power plant in Layyah,Sharjah. Mitsubishi Hitachi Power Systems, Ltd. andElsewedy Power S.A.E. have joined this project as EPC
contractors. NEXI insures the fund to construct the plant andpurchase equipment.

Investment in FPSO Owing andChartering Business

Ghana

NEXI has provided Overseas Investment Insurance
for the investment by four Japanese firms; SumitomoCorporation, Kawasaki Kisen Kaisha, Ltd., JGC Corporationand Development Bank of Japan Inc. in a charter business offloating production storage and offloading vessel in Ghana.
Date of signing
the insurance contract:
June 2018

Date of signing
the insurance contract:
April 2019

Photo of the FPSO, provided
by Yinson Holdings Berhad

Photo provided
by Mitsubishi Hitachi Power Systems, Ltd.

India

Hong Kong
TaiwanThailand

Medical Needle Exports

Nihon Chushashin Kogyo Co. Ltd., a manufacturer
and seller of medical instruments, decided to use Export
Credit Insurance for SMEs and AFF sector in response to acustomer’s request to change the payment method from letter ofcredit to deferred payment for exports of medical needles toIndia.
Date of signing
the insurance contract:
February 2019

Apple Exports

Nihon Agri, Inc., which exports and sells
Japanese agricultural products, uses Export Credit
Insurance for SMEs and AFF sector for its apple exports
to Hong Kong, Taiwan, and Thailand to reduce risks
related to collecting payments when the value of its
exports dramatically increased.
Annual export amount to be coveredby the insurance:
About JPY 150 million
Date of signing the insurance contract:
October 2018

Photo providedby Nihon Chushashin Kogyo Co. Ltd.

Photo provided by Nihon Agri, Inc.

SMEs ExportKorea

Sake Exports

Yamato Brewing, Inc. made use of Export Credit
Insurance for SMEs and AFF sector for its sake exports toSouth Korea in order to reduce risks related to collecting
payments for business conducted with deferred payment for goods.
Export amount to be covered by the insurance:
About JPY 1.30 million
Date of signing the insurance contract:August 2018
Photo provided by Yamato Brewing, Inc.

VietnamWood Wool Exports

Toda Shoko inc. employed Export Credit
Insurance for SMEs and AFF sector for its exports ofwood wool to Vietnam, through an introduction by theShikoku Bank, Ltd., in order to reduce risks related tocollecting deferred payments for goods.
Export amount to be coveredby the insurance:
About JPY 0.90 million
Date of signing
the insurance contract:
August 2018
Photo provided by Toda Shoko inc.

NEXI Corporate Proﬁle 7

Nippon Export and Investment Insurance
https://www.nexi.go.jp
Inquiries

Corporate Planning and International Relations Group
Corporate Planning and Policy Oﬃce
Phone : +81-(0)3-3512-7665
Fax : +81-(0)3-3512-7688
E-mail : info@nexi.go.jp

Domestic Offices

Overseas Offices

Head Oﬃce

Singapore Branch

Chiyoda First Bldg., East Wing 5th Floor
3-8-1 Nishikanda, Chiyoda-ku, Tokyo 101-8359, Japan
Phone: +81(0)3-3512-7650
Fax: +81(0)3-3512-7660

16 Raﬄes Quay, #38-06 Hong Leong Bldg., Singapore 048581
Phone: +65-6429-9582
Fax: +65-6222-0481＊ Nippon Export and Investment Insurance Singapore Branch is not a licensed
insurer nor insurance intermediary under the Singapore Insurance Act

Osaka BranchParis Representative Oﬃce

Aioi Nissay Dowa Insurance Yodoyabashi Bldg., 8th Floor
3-1-22 Kitahama, Chuo-ku Osaka City, Osaka 541-0041, Japan
Phone: +81(0)6-6233-4019
Fax: +81(0)6-6233-4001

c/o JETRO, 27, rue de Berri, 75008 Paris, France
Phone: +33(-0)1-4261-5879
Fax: +33(-0)1-4261-5049

New York Representative Oﬃce
c/o JETRO, 565 Fifth Avenue 4th Floor New York, NY 10017 U.S.A
Phone: +1-212-819-7769
Fax: +1-212-997-0464

August 2019