News Release
Enterprise Turnaround Initiative
Corporation of Japan

Japan sets up new body to revitalize regional economies
Enterprise Turnaround Initiative Corporation (ETIC) to act as
catalyst for business and economic revival
Tokyo, October 16th, 2009 - The Enterprise Turnaround Initiative Corporation of Japan(ETIC), a new body with broad powers and a five-year mandate to revitalize Japan’s
ailing regional economies, began operations today.
Funded jointly by the Government of Japan and by private sector financial institutions
that are to be involved in various aspects, ETIC will provide support for mid-sizedcompanies, SMEs and other businesses, including large corporations, which haverevitalization potential but are carrying excessive debt. Private sector companies will beeligible for support with no restrictions based on size, category, type or location.
ETIC will aim to create and promote business success stories to serve as models thatshow the way towards regional business and economic revitalization. In addition to
support for individual businesses, ETIC will use its powers to promote an overall revivalof key industries in individual regions, as well as industrial reform and restructuring thatcrosses regional and industrial sector boundaries.
With paid in capital of approximately 20 billion yen expected and the ability to raise up to
1.6 trillion yen in government guaranteed funding, the new body has been granted abroad range of powers, including debt purchases, investments and loans; negotiation
and reconciliation among major creditors, and direct management support through thedispatch of management and business revitalization professionals.
Drawing on the knowledge and wisdom of industry, academia and government, andthrough alliances with other enterprise rehabilitation systems and related institutions,
ETIC will act as a catalyst to strengthen and expand Japan’s overall business
revitalization resources.
Further, through its enterprise turnaround efforts, ETIC will secure and train themanagement and enterprise turnaround human resources essential for the revitalizationof Japan’s economy, and serve as a conduit to channel these resources to regional
areas.

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ETIC, headquartered in Chiyoda-ku, Tokyo, is a limited-term organization with amandate that extends for five years from launch. ETIC was formally established onOctober 14th, 2009, when it elected its directors, auditors, and members of the ETICCommittee, which will make decisions on significant matters regarding revitalization
support.
Hiroshige Nishizawa will be president and representative director of ETIC, withShigeyuki Kawamoto and Koichi Mizutome serving as executive directors. Hideo Seto
will serve as chairman of the ETIC Committee, with other members including Yuri Okina,
Masanori Tanabe, Toshio Nakamura, and Hiroshige Nishizawa.
ETIC employees will be highly qualified personnel with experience in the fields ofmanagement, business revitalization, economics and finance.

Contact:
Office for Enterprise Turnaround Initiative Corporation of Japan, Cabinet OfficeTel: +813-3581-9125 (Ishikawa or Gonda)

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APPENDIX I
Main Prospective Bank Investors*
Mizuho Bank, Ltd.
Mizuho Trust & Banking Co. Ltd.
Mizuho Corporate Bank, Ltd.
Sumitomo Mitsui Banking Corporation
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Mitsubishi UFJ Trust and Banking Corporation
Resona Bank, Ltd.
Saitama Resona Bank, Ltd.
The Sumitomo Trust and Banking Co., Ltd.
The Chuo Mitsui Trust and Banking Company, Ltd
The Shoko Chukin Bank, Ltd.
The Bank of Yokohama, Ltd.
The Bank of Fukuoka, Ltd.
The Iyo Bank, Ltd.
The Joyo Bank, Ltd.
The Shizuoka Bank, Ltd.
The Keiyo Bank, Ltd.
The Higashi-Nippon Bank, Ltd.
The Tokushima Bank, Ltd.
The Bank of Nagoya, LtdMomiji Bank, Ltd.
* Listed above are the financial institutions that have already made board resolutions to makecommitments to ETIC, and include the chairman and vice-chairman banks of The Regional Banks
Association of Japan and The Second Association of Regional Banks. Many other financial institutions
have also indicated they will provide support. The funding for ETIC will be provided via the Deposit
Insurance Corporation of Japan.

Directors of ETIC
President and Representative Director
Executive Director
Executive Director
Non-Executive Director
Non-Executive Director
Non-Executive Director
Non-Executive Director
Auditor
Auditor
AuditorHiroshige Nishizawa
Shigeyuki Kawamoto
Koichi Mizutome
Hideo Seto
Yuri Okina
Masanori Tanabe
Toshio Nakamura
Tsuyoshi Takagi
Akio Harada
Koichi Masuda

ETIC Committee Members
ChairmanMemberMemberMemberMember

Hideo Seto
Yuri Okina
Masanori Tanabe
Toshio Nakamura
Hiroshige Nishizawa

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APPENDIX II
Director Profiles
Hiroshige Nishizawa, President and Representative Director
Joined the Industrial Bank of Japan, Limited in 1961, became Representative and Managing
Director in 1992. Joined Tokyo Tomin Bank, Limited and became President in 1997, Chairman in2004, etc,Special Advisor to the Japan Chamber of Commerce and Industry since 2007
Shigeyuki Kawamoto, Executive Director
Registered as a lawyer in 1998. Worked at the Industrial Revitalization Corporation of Japan
from 2003 to 2006. Joined Nishimura & Asahi in 2006 became Partner in 2008
Koichi Mizutome, Executive Director
Joined DENTSU INC in 1991. Joined Andersen Consulting (now Accenture) in 1996, later joined
Roland Berger – Japan Ltd in 2000 as Partner, then became the Japan President and ManagingPartner in 2005, and Vice Chairman and Senior Partner in 2009. He is Secretary and Vice
Chairman of the Local Administrative and Budgetary Reform Committee for the Japan
Association of Corporate Executives.
Hideo Seto, ETIC Committee Member (Non-Executive Director)
Registered as a lawyer in 1979. He is a Managing Partner at LM Law Offices. Worked as
Administrator for companies including Mycal Corporation and Yamato Life Insurance. Previously
served as Executive Director of the Japanese Association of Turnaround Professionals andDirector of the Japanese Association for Business Recovery.
Yuri Okina, ETIC Committee Member (Non-Executive Director)
Joined the Bank of Japan in 1984. Joined the Japan Research Institute Ltd. in 1992 and iscurrently Research Director. Previously a committee member for the Industrial Revitalization
Corporation of Japan and Visiting Professor at Keio University Graduate School.
Masanori Tanabe, ETIC Committee Member (Non-Executive Director)
Joined the Bank of Japan in 1975 and become Councilor of the Office Credit Systems in 1999
then Director General of the Credit System Department in 2004. Has is an Executive Board
Member at the Deposit Insurance Corporation of Japan since 2005.
Toshio Nakamura, ETIC Committee Member (Non-Executive Director)
Joined the Ministry of International Trade and Industry (currently Ministry of Economy, Trade andIndustry) in 1970. Became Chief of the Small and Medium Enterprise Agency in 2000 and later
Secretary General of the Japan Association for the 2005 World Exposition in 2003. He is aPresident of the Japan Chamber of Commerce and Industry and the Tokyo Chamber ofCommerce and Industry since 2007.
Tsuyoshi Takagi, Auditor
Joined Asahi Kasei Kogyo Co. Ltd. in 1967. Vice President of JTUC-RENGO (Japanese TradeUnion Confederation) since 1994 and President since 2005 and Adviser since 2009.
Akio Harada, Auditor
Became a Public Prosecutor, Tokyo District Public Prosecutors Office in 1965. Later became
Director General of the Criminal Affairs Bureau, Ministry of Justice in 1996; Administrative Vice
Minister, Ministry of Justice in 1998; Chief Prosecutor, Tokyo High Prosecutors Office in 1999;
and Prosecutor General in 2001 and retired in 2004. He is currently practicing law at
Hironaka-Law office.
Koichi Masuda, Auditor
Certified Public Accountant. Senior executive partner of Asahi Shinwa (Arthur Young Japan)
from 1992 through 2004, then senior executive partner of KPMG AZSA till 2007.He has served
as Chairman and President of the Japanese Institute of Certified Public Accountants since 2007.

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