JBIC PROFILE

Role and FunctionJBIC is a policy-based financial institution wholly owned
JBIC’s mission is to contribute to the sound development of Japan and the international
economy and society by conducting its operations in the following four fields:• Promoting the overseas development and securement of resources which are important for Japan• Maintaining and improving the international competitiveness of Japanese industries• Promoting the overseas business having the purpose of preserving the global environment,such as preventing global warming• Preventing disruptions to international financial order or taking appropriate measures withrespect to damages caused by such disruptions

History
The Japan Bank for International Cooperation (JBIC) wasestablished on April 1, 2012 in accordance with the Japan
Bank for International Cooperation Act (JBIC Act), which
was promulgated and came into effect on May 2, 2011.
● October 1999

Japan Bank forInternational Cooperation(former JBIC)● December 1950

Export-Import Bankof Japan (JEXIM)

International
Financial Operations● April 2012

Japan Finance Corporation (JFC)
JBIC(Domestic Finance Units)
Micro Business andIndividual Unit
Agriculture, Forestry, Fisheries
and Food Business Unit
Small and Medium
Enterprise (SME) Unit

● March 1961

Overseas Economic
Cooperation Fund (OECF)● October 2008

Overseas Economic
Cooperation Operations

Operations to Facilitate
Crisis Responses and Specific
Businesses Promotion, etc.

Japan International
Cooperation Agency(JICA)

Japan Bank forInternational
Cooperation(JBIC)JBIC was established on
April 1, 2012 in accordancewith the JBIC Act, which
was promulgated and cameinto effect on May 2, 2011.

by the Japanese government© Mr. Hreinn Hjartason

Operational Principles
1 Supplementing the financial transactions implemented by private-sector financial institutions
To effectively perform the functions required for policy-based financing, JBIC shall take account of situations where private-sector financial
institutions are placed in their international finance activities and supplement their operations.

2 Ensuring financial soundness and certainty of repayment
Pursuant to the JBIC Act, JBIC shall make efforts to maintain the financial soundness of its operations, and when making financial decisions,
to conduct adequate screening regarding the outlook or the recovery of funds.

3 Maintaining and improving international creditworthiness and confidence
In order to conduct adequate operations and effective overseas funding operations, JBIC shall maintain and improve the international
creditworthiness and confidence gained by JBIC over the years.

4 Conducting business operations by drawing on its expertise and initiatives
JBIC shall conduct operations by drawing on its own expertise and initiatives on international finance.

ProfileName: Japan Bank for International Cooperation (JBIC)
Office: 4-1, Ohtemachi 1-chome, Chiyoda-ku, Tokyo 100-8144, Japan
Capital: ¥2,108.8 billion (as of June 21, 2023)
Outstanding (Loans and Equity Investments): ¥15,998.6 billion (as of March 31, 2023)
Outstanding (Guarantees): ¥1,537.6 billion (as of March 31, 2023)
1

Missions

As demand for energy and mineral resources continues to rise, countries around the world are stepping up efforts tosecure long-term, stable supplies of these essential resources. Additionally, efforts related to hydrogen, ammonia,
and other next-generation energy, which are key to achieving a decarbonized society and green transformation,
have become increasingly important. JBIC, by supporting Japanese companies wishing to acquire interests in anddevelop natural resources overseas, and to import them into Japan, contributes to ensuring a stable supply of theresources that are essential to the sound development of the Japanese economy.

2Economic globalization has led to increasingly intense competition worldwide. Under these circumstances, JBIC
provides support to maintain and raise the international competitiveness of Japanese industries by utilizing a variety
of financing methods to support the export of machinery, equipment, marine vessels, and other infrastructure. It also
supports participation in overseas infrastructure projects by Japanese companies, and to support overseas
manufacturing and sales activities by Japanese companies seeking growth in foreign markets, including mid-tierenterprises (MTEs) and small and medium-sized enterprises (SMEs).

3

Climate change mitigation is an urgent issue for the entire world. JBIC supports projects undertaken in foreigncountries that are having a favorable impact on the preservation of the global environment, including construction ofrenewable energy power plants such as wind power systems utilizing advanced environmental technologies as wellas installation of energy-saving equipment. In doing so, JBIC will utilize its loans, equity investments and guarantees
through the mobilization of private financing.
Under GREEN (Global action for Reconciling Economic growth and ENvironmental preservation) operations,
JBIC, taking into account the need to bring Japanese advanced environmental technologies to the world, works incooperation with international organizations and local financial institutions in developing countries to provide support
for projects with a focus on environmental conservation, such as those anticipated to make a considerable
contribution to reducing greenhouse gas emissions.

4Disruptions in the international financial order have a serious impact on the Japanese and world economies andcorporate activities. JBIC has worked in coordination with the Japanese government to implement measures toaddress obstacles such as the Asian currency crisis in 1997, the global financial crisis in 2008, and the COVID-19
pandemic in 2020.
In response to the global financial crisis in 2008, the Japanese government took measures to empower JBIC tolaunch three financial operations (Emergency Operations to Support Japanese Overseas Business Activities) as
time-bound, exceptional measures: (1) supplier’s credits to finance exports to developing countries; (2) loans tofinance major Japanese companies for continuing investment projects in developing countries; and (3) loans andguarantees to finance Japanese companies’ business operations in developed countries.
JBIC supported overseas operations of a large number of Japanese companies in a diverse range of industries
including MTEs and SMEs. As a part of these facilities, JBIC also provided loans to domestic financial institutions inan effort to support, by means of two-step loans through these financial institutions, the overseas business activities
of Japanese enterprises that were facing funding difficulties.
In addition, JBIC established a fund together with the International Finance Corporation to recapitalize financial
institutions in developing countries, thereby contributing to the stabilization of the international financial order.
In 2020, JBIC launched two financial operations, provisionally offered until the end of December 2021: (1) loans
and guarantees for business that Japanese companies, including MTEs and SMEs, are conducting in developed
countries; and (2) loans to domestic Japanese companies for their overseas business.

5

JBIC at a Glance
Total Number and Amount of Loan and Equity Investment Commitments(as of March 31, 2023)
FranceProject finance* for
Le Treport/Noirmoutier
offshore wind farmprojects

United Kingdom
Project finance for Triton
Knoll offshore electricity
transmission project

Nordic and Baltic Region
Equity investment infund that invests indeep-tech startups

Europe3,969¥12,931.2 billion

Asia
11,839¥25,102.9 billion

The Middle East
843
¥7,945.1 billion

Africa2,386¥4,790.3 billion

Oceania
1,145¥3,848.5 billion

Egypt
Project finance foronshore wind farmproject

Qatar
Project finance for
Al Kharsaah solar PV
project

Saudi Arabia
Project finance for
Rabigh solar PV
project

Bangladesh
Project finance forMeghnaghat natural gasfired cycle power plant
project

Palau
Support for export ofcommunications
infrastructure equipment

United Arab Emirates (UAE)
Support for acquiring
interests in offshore oilfield in Abu Dhabi

United Arab Emirates (UAE)
Project finance for
Warsan waste-to-energy
project

India
Support for enhancementof supply chain resilienceof Japanese automobile
manufacture

SingaporeSupport for export ofmultipurpose vessels

Türkiye
Project finance andpolitical risk guarantee
for Ikiteli hospital PPP
project

Vietnam
Support for medical
device manufacturing
and sales

Indonesia
Project finance forJawa 1 Gas-to-Power
Project

Egypt
Support for health andhygiene productmanufacturing and sales

Benin
Support for PV project
and Electrified Lantan
project* Project finance is a financing scheme in which repayments are madesolely from cash flows generated by a project and secured only by
project assets.

6North America
3,116¥11,577.1 billion

Latin America andthe Caribbean
4,246¥11,349.3 billion

Fiji
Equity investment inEnergy Fiji Limited

United States
Equity investment inhydrogen stations
operating company

United States
Equity investment infund that invests inadvanced IT companies
mainly in Silicon Valley

CanadaProject financing for
subway line construction
and operation project

United States
Support for synthetic
structural protein material
manufacturing

MexicoSupport for automotive
parts manufacturing and
sales

Chile
Project finance forthe development ofQuebrada Blanca
project

BrazilSupport for building
a pellet feed plantBrazilProject finance for
FPSO operation project

An FPSO vessel of the same
type as used in the project(provided by MODEC, Inc.)

Changing Composition of Loans, Equity Investments, and Guarantees (Commitments)(Unit: billions of yen)
1.0 (2%)

¥61.3

60.3
(98%)

FY19557.4 (1%)
402.8
(74%)

FY1970

33.3
(6%)

68.5
(13%)

¥543.031.1(6%)
14.2 (2%)

356.4
(40%)

FY1985

233.5
(26%)

182.4
(21%)

¥888.4

101.4(11%)
Guarantees 0.5 (0%)

FY2000

174.0
(14%)

321.4
(27%)

523.7
(43%)

67.4
(6%)

42.9 (2%)

FY2022

230.0
(10%)

¥1,204.7

118.3
(10%)
95.2 (4%)¥2,315.2

1,847.4(80%)
76.2 (3%)

23.3 (1%)■ Export Loans ■Import Loans ■Overseas Investment Loans ■Untied Loans ■Governmental Loans ■ Guarantees ■Equity Investments

7

Financial Instruments

Export Loans
Export loans are provided to overseas importers and financial institutions to support finance exports of Japanese machinery,equipment, and technology mainly to developing countries. In particular, products such as marine vessels, power generation
facilities, etc. incorporate a significant amount of advanced technology, and their export is instrumental in enhancing thetechnological base of Japanese industries. Furthermore, Japanese shipbuilding and plant facility industries have a broad rangeof supporting industries, including SME producing parts and components, and thus the loans are expected to positively contributeto the business of these Japanese companies. Export loans in specific sectors are also available to developed countries.*
Terms and conditions of export loans are determined based on the Arrangement on Officially Supported Export Credits(OECD Arrangement). In principle, the loan amount should not exceed the value of an export contract or technical service
contract, and excludes the down payment. Local costs may be covered provided that the amount is within the scope prescribedby the OECD Arrangement.
* Eligible Sectors for Export Loans in Developed Countries (as of August 31, 2023)
Ships, satellites, aircraft, medical equipment, equipment that contributes to reducing greenhouse gas (GHG) emissions, railways (high-speed, inter-city projects
and projects in major cities), road business, airports, ports, water business, biomass fuel production, renewable energy power generation, nuclear power
generation, hydrogen, fuel ammonia, power transformation, transmission and distribution, highly efficient coal-fired power generation, coal gasification, carbon
capture and storage (CCS), highly efficient gas-fired power generation, smart grid, electricity storage, development of telecommunications network,
biopharmaceuticals, manufacture of chemicals that use organic substances derived from animals and plants, electric vehicles, semiconductors, waste
incineration and waste to energy, development of goods and technologies irreplaceable for a stable supply of raw materials of products, etc., business using
new technology, business models, etc.

Privatefinancial
institution(s)Loan (B/L)1

Financial institution(s), etc.,
in foreign country(ies)

Loans

Loan (B/C)2

Japanese exporter(s)Exports of plants, etc.

Importer(s) in foreigncountry(ies)

1. Loan to foreign ﬁnancial institutions (bank-to-bank loan or “B/L”).
2. Loan to foreign importers (buyer’s credit or “B/C”).

Supporting Export of Japanese Company’s Port Container Cranes to Türkiye
JBIC signed a buyer’s credit (export loan) agreement with theTurkish financial leasing company Yapı Kredi Finansal Kiralama
A.O. (YKL). The loan is intended to provide the necessary funds,
through YKL, for Yılport Holding A.Ş., another Turkish company
that operates ports in Türkiye, to purchase an additional four
port container cranes from Mitsui E&S Machinery Co., Ltd. forthe port of Gemlik, Türkiye.
Türkiye, which has long flourished as a center for trade with
Asia and Europe, is moving ahead with the development oflogistics infrastructure, including railways and ports, as its future
growth strategy. The country is also attracting much attention
from Japanese companies as a production base targeting theTurkish market as well as markets in the EU and neighboring countries. The loan, which will support theJapanese company’s exports, is expected to serve to improve the Turkish port infrastructure and createbusiness opportunities for Japanese companies in the Turkish port industry.

8

Import Loans
Import loans support imports of strategically important goods including natural resources by Japanese companies and cases
where Japanese companies or Japanese affiliates receive natural resources in countries where they do business. These loans
are extended to Japanese importers receiving natural resources, Japanese companies and Japanese affiliates receiving
natural resources at their overseas business locations, or foreign exporters. Since Japan is poorly endowed with natural
resources, stable imports of these over the long term are one of the key factors underpinning domestic economic activity.
Import loans finance the development and import of energy resources, including oil and LNG, and mineral resources, including
iron ore, copper, and other rare materials.
In addition to natural resources, JBIC provides a guarantee facility for goods and services essential to the sounddevelopment of the Japanese economy, such as for the import of aircraft. (See page 13 for the scheme of guarantees forimports of manufactured products.)

Products Eligible for Import Loans (Natural Resources)
Oil, petroleum gas, LNG, coal, uranium, metallic ore, metals, mineral phosphate, fluorite, biomass fuel, hydrogen,ammonia used as fuel, salt, lumber, wood chips, pulp, and other materials

Privatefinancial
institution(s)

Loan

Loan

Imports of natural resources
Japanese importer(s)*Foreign exporter(s)* Including cases where Japanese companies or Japanese affiliates receive natural resources in countries where they do businessSupporting Japanese Energy Company for Stable Procurement of LNG
JBIC concluded a loan agreement with JERA Co., Inc. (JERA)
to finance JERA’s importing of liquefied natural gas (LNG).
The loan is co-financed with private financial institutions.
As resource prices continue to rise, stable procurementof LNG to be used as fuel for gas-fired power generation has
become more important than ever in ensuring a stable supplyof electricity, which is vital for the lives of the Japanese people
and national economic activities.
Financing JERA with this loan is intended to contribute to astable supply of electricity by securing a stable supply ofenergy to Japan.

9Overseas Investment Loans
Overseas investment loans support Japanese foreign direct investments. The loans can be provided to Japanese companies(investors), overseas Japanese affiliates (including joint ventures) and foreign governments or financial institutions that haveequity investments in or provide loans to such overseas affiliates.
Direct loans to Japanese companies are intended for MTEs and SMEs, as well as for projects aimed at developing or
securing interests in overseas resources that are strategically important to Japan. Other target projects are projects that support
merger and acquisition (M&A) activities and projects to finance overseas businesses for increasing supply chain resilience(both including those of large companies).
Moreover, JBIC provides two-step loans (TSLs) to support the overseas business of Japanese companies, including MTEs andSMEs, as well as TSLs intended to support M&A activities by Japanese companies. JBIC is also able to provide short-termloans for overseas business operations when bridge loans are required to fill the financing gaps before it offers long-term loans.
Moreover, JBIC is empowered to provide investment loans for projects in developed countries for specific sectors.** Eligible Sectors for Overseas Investment Loans in Developed Countries (as of August 31, 2023)
Railways (high-speed, inter-city projects and projects in major cities), road business, airports, ports, water business, biomass fuel production, renewable energy
power generation, nuclear power generation, hydrogen, fuel ammonia, power transformation, transmission and distribution, highly efficient coal-fired power
generation, coal gasification, CCS, highly efficient gas-fired power generation, smart grid, electricity storage, development of telecommunications network,
shipbuilding and marine transportation, satellite launching and operation, aircraft maintenance and sales, medical business, biopharmaceuticals, manufactureof chemicals that use organic substances derived from animals and plants, electric vehicles, semiconductors, waste incineration and waste to energy, developmentof goods and technologies irreplaceable for a stable supply of raw materials of products, etc., businesses using new technology, business models, etc.,
businesses that contribute to reducing GHG emissions, M&A activities, etc.

Privatefinancial
institution(s)LoanGovernment, financial
institution, etc., in foreigncountry(ies), Japanese bank(s)

Loan

Loan
Loan
Japanese company(ies)

Loans and /or equity investments

Loan

Project(s) in foreigncountry(ies)Japanese affiliate(s)Equityinvestments
Loan
Joint venture partner(s)Supporting Overseas Business Expansion of Japanese Railway Industry
JBIC concluded a loan agreement in project financing with the Connect
6ix consortium (Connect 6ix). Connect 6ix is invested in by, among
others, Hitachi Rail, which is wholly owned by Hitachi, Ltd. Under JBIC’s
GREEN operations, the loan will provide the funds necessary forConnect 6ix to supply, operate, and maintain subway trains and railway
systems in Ontario, Canada.
The populations of both the city of Toronto, Canada, and its
neighboring communities have consistently grown year over year,
making it an urgent task to expand the transit system to address the risein transportation demand. As planned, the project will constructcomponents of the 15.6-km subway line in Toronto, and operate and maintain the system for 30 years. Oncecompleted the project is expected to reduce traffic by 28,000 vehicles per day and lower fuel consumption by
7.2 million liters per year.
Supporting the efforts of Hitachi Rail through Connect 6ix is in line with measures being implemented
under the Infrastructure System Overseas Promotion Strategy 2025 promoted by the Japanese government.

10

Financial Instruments

Untied Loans
Untied loans are intended to finance projects and the import of goods by foreign countries, or for such countries to achieve
equilibrium in their international balance of payments, or to stabilize their currencies. They are also intended to financeoverseas businesses of foreign companies (“eligible foreign companies”) that have become part of supply chains or industrial
platforms of strategically important goods or technologies essential for Japan’s economic activities and the lives of the peopleof Japan. Loans are not conditional on investments or procurement of equipment and materials from Japan.
Capital procured from untied loans is used to: maintain and expand trade with and direct investment from Japan; securestable supplies of energy and mineral resources for Japan; promote business activities of Japanese companies; finance projects
environmental
having significant effects on global environmen
nvironmental preservation; and finance projects
cts maintaining order in international financing.

Privatefinancial
institution(s)LoanGovernment,
financial institution(s), etc.,
in foreign country(ies)eligible foreign companies*

Project(s) in the recipient
country(ies)

Imports ofequipment andtechnology
Exporter(s)Foreign importer(s)* Refer to foreign companies that have become part of supply chains or industrial platforms of strategically important goods or technologies
essential for Japan’s economic activities and the lives of the people of Japan. The fields of applicable goods, technologies, and industrial
platforms are specified in the ordinance of Japan’s Ministry of Finance (As of October 1, 2023).
(i) Operations related to “important goods”
Of the following operations, those necessary for enhancing the resilience of the supply chain for goods procured by Japanese or
Japanese-affiliated companies• Development of important resources for Japan• Manufacturing of equipment and other items necessary to generate electricity from renewable energy• Manufacturing of rechargeable batteries• Manufacturing of components and accessories of ships and aircraft• Development and manufacturing of medical devices• Development and manufacturing of pharmaceuticals• Manufacturing of motors• Manufacturing of semiconductors, including the raw materials and equipment necessary for the manufacturing• Development and manufacturing of fertilizers, agricultural instruments, and other goods necessary for food production, including
agriculture• Manufacturing of low-carbon materials(ii) Operations related to “important technologies”
Of the following operations, those necessary for facilitating the provision of technologies utilized by Japanese and Japanese-affiliated companies• Development of artificial intelligence-related technologies• Development of technologies related to quantum computers and other equipment that harness the quantum property• Development of biotechnology• Development of blockchain technology(iii) Operation related to “bases necessary for global business operations”
Of the following operations, those necessary for global business activities by Japanese and Japanese-affiliated companies• Development of bases for power generation, transmission, etc., necessary to provide electricity from renewable energy• Development of bases for utilizing information and communication technology (including launching, tracking, and controlling ofcommunication satellites)• Medical care

GREEN Operations

Promoting the overseas business having the purpose ofpreserving the global environment
Guarantees

Under its GREEN (Global action for Reconciling
Economic growth and ENvironmental
preservation) operations, JBIC provides
support for projects with a focus onenvironmental conservation, such as thoseanticipated to make a considerable reduction in
GHG emissions, taking into account ofpropagating Japanese advanced environmental
technologies to the world.

Loans and equity Investments

Privateflows

Eligible Projects:
Favorable impact on preservation of the global environment, such as
significantly reducing GHG emissions

11

Equity Investments
Equity investments are capital contributions to companies where Japanese companies have equity stakes to undertake
overseas projects, as well as funds where Japanese companies perform significant roles. In principle, equity investments takethe following forms.

Japanese companies make equity
investments in an overseas projectJapanesecompany(ies)

Equityinvestments

Overseas
project

Japanese companies participate in a fund (and perform
such major roles as that of a general partner in their
management and investment decisions)
Major role
Equityinvestments

Japanesecompany(ies)

Equityinvestments
Fund

Other
investor(s)Equityinvestment

Equityinvestment

Japanese companies form a consortium and participate
in an international fundJapanese companies acquire equity
interests in a foreign company to forma business allianceBusiness allianceJapanesecompany(ies)

Equityinvestments

Foreigncompany

Equityinvestments

Japanesecompany(ies)

Fund

Other
investor(s)Equityinvestment
Equityinvestment
Consortium

Guarantees
In addition to loans and equity investments, JBIC provides support through its guarantee facility. Guarantees are provided forloans extended by private financial institutions, bonds issued by governments of developing countries or overseas Japanesecompanies, as well as for currency swap transactions. JBIC also issues reassurance for guarantees from export credit agencies
in other countries.

Guarantees for Imports of Manufactured Products
JBIC has a guarantee facility for borrowing by Japanesecompanies to finance the import of aircraft and othermanufactured products that are vital to Japan.

Guarantee

Private financial
institution, etc.
Loan

Foreignexporter(s)12Import of products

Japaneseimporter(s)Financial Instruments

Guarantees for Corporate Bonds Issued by
Japanese Affiliates
JBIC supports Japanese affiliates operating overseas
by providing guarantees for the bonds they issue inlocal capital markets.

Guarantee

Subguarantee

Counterguarantee
Japanese company(parent company,
private financial
institution, etc.)

Investor(s)Issueof bonds
Japaneseaffiliate (issuer)

Guarantees

Guarantees for Co-financing, Overseas Syndicated Loans and Public Sector Bonds
Loans to developing countries involve, among others,
currency conversion and transfer risks, as well as
country risks.
Guarantees that JBIC issues to cover such risks
enable Japanese private financial institutions toprovide medium- and long-term financing fordeveloping countries, and contribute to developing
countries to bringing in private capital and facilitating
private companies to expand international businessactivities.

Guarantee
Investor(s)Issue ofpublic bonds,
etc.

Guarantee
Loan
Private financial
institution, etc.
Loan

Government,
etc., in foreigncountry

Guarantees for Currency Swaps
JBIC provides guarantees for swap transactions to
support the local currency financing of overseas
infrastructure projects and other projects undertaken
by Japanese companies.

Japanesecompany(ies)
Operation

Guarantee
Swapcounterparty
overseas

Currency
swap
contract

Privatefinancial
institution

Localcurrency
loan

Investment

Overseas
infrastructure
projects, etc.

Counter Guarantees for Export Credits
In cases where Japanese companies export
machinery and equipment jointly with companies ofanother country,
JBIC provides a counter guarantee for the guarantee
provided by that country’s export credit agency (ECA).
This function enables JBIC to flexibly support export
projects by Japanese companies collaborating withforeign companies through multilateral mutual
guarantee schemes.

Counterguarantee

Japanesecompany(ies)

Foreign
ECA
Guarantee
Privatefinancial
institution Loan

Foreigncompany(ies)
ExportForeignimporter(s)International Organization Loan Guarantee
When international financial organizations provide
financing for projects necessary for overseas
reconstruction or development under international
cooperation, JBIC guarantees these liabilities.
Through such schemes, JBIC contributes tomaintaining the international financial order.

Guarantee
International
financialorganization(s)LoanProjects necessary foroverseas reconstruction
or development underinternational cooperation

13

Bridge Loans
JBIC provides short-term financing for governments of developing countries to meet their foreign currency needs for externaltransactions when they face balance-of-payment difficulties.
JBIC provided bridge loans (short-term bridging loans) for Myanmar in January 2013 to support clear the arrears of pastloans from the Asian Development Bank (ADB) and the International Development Association (IDA), a member of the WorldBank Group.

Loan

Government,
financial
institution, etc.,
in foreign country(Conditionality)

Loans from theIMF, World Bank, etc.

Import orother externaltransaction(s)Acquisition of Loan Assets and Public and Corporate Bonds
When JBIC provides export loans, import loans, overseas investment loans and untied loans, it can also provide credits,
in addition to providing loans and guarantees, by purchasing loan assets and acquiring public and corporate bonds* issued
by borrowers for funding. The objective of such operations is to promote private financial institutions’ loans in international
finance and Japanese companies’ funding in international capital markets.
* The scope of assets and securities acquired includes public bonds, corporate bonds, debt securities and trust beneficiary rights.

Research and Studies
JBIC conducts research and studies on individual projects during their initial stage, as well as those focused on specific regions
or industry sectors that may be conductive to specific projects. This is an effective means of identifying potentially quality
projects, and is expected to lead to increasing exports of materials and services from Japan, as well as expand opportunities toparticipate in projects by Japanese companies. Research and studies are conducted at each stage necessary for realization of
the project, including preparation of a master plan for an individual project, conducting of prefeasibility and feasibility studies(Pre-F/S, F/S), front-end engineering design (FEED), and studies of regions and industry sectors conductive to specific projects.
After the research and studies are completed, follow-up reviews are conducted at least once each year to confirm the progressof the project.
Research and studies are conducted in the following sequence.
1. Selection of a research and study subject
2. Selection of a contractor to conduct research and studies
3. Conduct of a research and studies
4. Completion of a research and study report
5. Follow-up

14

Financial Instruments

Securitization and Other Financial Instruments
JBIC provides support for securitization and an increase in liquidity in order to complement and encourage the activities ofprivate financial institutions.
1 Securitization (Guarantees)

2 Securitization (Acquisition of Securities)

In cases where special purpose companies (SPCs) ortrust companies issue asset-backed securities (ABSs)or other financial products with loans or other assets as
collateral, JBIC guarantees the payment of such ABSs to
reduce country and structure risks, thereby supporting
the issuance of bonds in the emerging capital markets.

JBIC supports bond issues by acquiring a portion of
the ABSs issued by SPCs or trust companies withloans or other assets as collateral. JBIC’s acquisition
supports the securitization needs of the originators*
and is expected to help invigorate the bond market bycirculating the acquired bonds back into the market
when market conditions allow.
* An originator is the original owner of assets to be securitized andobtain funding through securitization.

Originator
Private financial
institutions, etc.

Transfer of loans
SPC
Guarantee

Loans

ObligorOverseas Japaneseaffiliates

Issue of
ABSs

Purchase of
ABSs

Investors(in Japan andoverseas)

The above diagram depicts a scheme where SPCs are used, but the clients can also use schemes where
trusts are used or JBIC acquires or provides guarantees for assets backed by securitization.

3 Securitization and Liquidation of Receivables
JBIC provides guarantees for the receivables and other monetary claims held by overseas subsidiaries of Japanesecompanies, in order to facilitate the purchase of such receivables by banks (an increase in their liquidity). JBIC is
also able to provide guarantees for securities issued by SPCs or trust companies in cases where these securities
have monetary claims acquired from overseas Japanese subsidiaries on collateral.

Overseas Japaneseaffiliates

Accounts receivable, etc.

Guarantee
Proceeds

Overseas local
companies
Guarantee

Assignment of accountreceivable
ABSs

Private financial
institutions

Investors

SPCs or trusts
Proceeds

15

Prominent Initiatives in Recent Years

Act for Partial Amendment of the Japan Bank for International Cooperation Act
Given multiple factors, including changes in the international situation surrounding Japan’s economy, the Act for Partial
Amendment of the Japan Bank for International Cooperation Act was enacted in April 2023 to further strengthen JBIC’s functions.
This Act allows JBIC to provide support in three fields: (1) enhancement of supply chain resilience to contribute toward
maintaining and improving the international competitiveness of Japanese industries; (2) assistance to Japanese companies,
including startups, in further taking risks amid growing expectations for such sectors as digitalization and green initiatives; and(3) participation in international support for the recovery of Ukraine.

Enhancement of supply chain resilience to contribute toward maintaining
and improving the international competitiveness of Japanese industries
Untied loans are now available to foreign companies that support the supply chain for important materials and technologies
in maintaining and improving the international competitiveness of Japanese industries and the necessary infrastructure forthe overseas business of Japanese companies.
Support through import loans is now available not only when importing overseas resources into Japan but also when
Japanese companies receive these resources overseas.
Direct loans to Japanese companies (overseas investment loans) are now available for overseas business operations which
are intended to enhance Japanese companies’ supply chain resilience.

(1) Untied loans for eligible foreign corporations (overview)

Enhancement of supply chain resilience● Given the fact that the supply chains and the industry bases for important materials and technologies essential to
Japan’s economic activities and people’s lives are multi-layered and that the international division of labor isprogressing, untied loans are now available to foreign companies integrated into these chains and bases (eligible
foreign companies).
● Materials and technologies that are important in maintaining and improving the international competitiveness ofJapanese industries as well as the bases necessary for Japanese companies’ overseas business are designatedby the Ministry of Finance Ordinance.
Foreign country

Japan

Supply chain for important materials and technologies

Specified foreigncompany
Importantgoods andtechnologies

Loan(untied loans)

Support available since October 2023
Previously and currently available support

16

Importantgoods andtechnologies

Importantgoods andtechnologies

Loan(untied loans)

Private financial institutions(co-financing)

Japanesecompany

Eligible foreigncompany

Japanese affiliate

The assistance is available to eligible foreign companies, which are engaged in the following operations (as of October 1, 2023).
(i) Operations related to “important goods”
Of the following operations, those necessary for enhancing the resilience of the supply chain for goods procured by Japanese or
Japanese-affiliated companies• Development of important resources for Japan• Manufacturing of equipment and other items necessary to generate electricity from renewable energy• Manufacturing of rechargeable batteries• Manufacturing of components and accessories of ships and aircraft• Development and manufacturing of medical devices• Development and manufacturing of pharmaceuticals• Manufacturing of motors• Manufacturing of semiconductors, including the raw materials and equipment necessary for the manufacturing• Development and manufacturing of fertilizers, agricultural instruments, and other goods necessary for food production, including agriculture• Manufacturing of low-carbon materials(ii) Operations related to “important technologies”
Of the following operations, those necessary for facilitating the provision of technologies utilized by Japanese and Japanese affiliated companies• Development of artificial intelligence-related technologies• Development of technologies related to quantum computers and other equipment that harness the quantum property• Development of biotechnology• Development of blockchain technology(iii) Operation related to “bases necessary for global business operations”
Of the following operations, those necessary for global business activities by Japanese and Japanese-affiliated companies• Development of bases for power generation, transmission, etc., necessary to provide electricity from renewable energy• Development of bases for utilizing information and communication technology (including launching, tracking, and controlling ofcommunication satellites)• Medical care

In providing a loan, etc. to an eligible foreign company, JBIC conducts screening for the applicant, from theviewpoint of contributing toward maintaining and strengthening the international competitiveness of Japaneseindustry, including economic security.

(2) Import loans for receiving resources overseas

Enhancement of supply chain resilience● As the supply chains of Japanese companies are also being developed outside of Japan, support through importloan is available not only when importing resources into Japan, but also when Japanese companies and Japaneseaffiliated companies receive resources overseas.
Note: Resources important to Japan : oil, petroleum gas, LNG, coal, uranium, metallic ore, metals, mineral phosphate, fluorite, salt, wood, wood chips, pulp,
fuels derived from biomass (organic matter derived from animals and plants that can be used as an energy source, excluding crude oil, petroleum gas,
flammable natural gas and coal as well as products manufactured from these), hydrogen, fuel ammonia, and other resources important to Japan.

Foreign country

Japan

Foreign company
Import ofresources

Private financial
institutions(co-financing)Foreign company

Japanesecompany

Japanese affiliate
Receipt ofresources

Support available since October 2023

Used in projects
in the country

Previously and currently available support

17

(3) Overseas investment loans to Japanese companies for overseas
business operations to strengthen supply chain resilience

Enhancement of supply chain resilience● Given the fact that the supply chains of Japanese companies have extended across borders, direct loans to Japanesecompanies (overseas investment loans) are now available for overseas business operations which are intended to enhance
Japanese companies’ supply chain resilience, in addition to the current loans for resources and M&A, two-step loans, etc.
● JBIC supports the overseas supply chains of Japanese companies from upstream to downstream operations, ranging
from manufacturing, development, transportation, and procurement of raw materials to processing, assembly,transportation, and sales of products.

Private financial institutions(co-financing)
Loan for resources/M&A,
two-step loan for M&A/infrastructure

Overseas investment loan forstrengthening supply chain resilienceJapan

Company
other than
MTE and SME

MTE and SME

Funds

Funds

Foreign country

Overseassubsidiary

Company
other than
MTE and SME
Funds

Overseassubsidiary

Overseassubsidiary

Support available since October 2023
Previously and currently available support

Assistance to Japanese companies, including startups, in further taking risks
The assistance is now available for equity investments or acquisition of corporate bonds of Japanese startups (which were
established or started operation within less than 10 years), MTE, and SMEs engaged in overseas business operations.
Development of energy and natural resources, commercialization of new technology and business models, and equity
investment in or acquisition of corporate bonds of startups are now included in Special Operations.

(1) Equity investment in, acquisition of corporate bonds andassisting in risk taking of domestic startups

Assistance for risk taking● As measures to support overseas business financing for promising startups as well as MTE and SMEs that aim to
expand overseas after gaining experience in Japan, (i) equity investments in and (ii) acquisition of corporate bonds
issued by startups or MTE and SMEs are now included in the operations.
(i) Equity investment in a domestic startup

Private company, etc.
Equityinvestment

Private company, etc.
Equityinvestment

Domestic startup,
MTE and SME

Japan

Foreigncountry

Foreign company/
Japanese affiliate

New businessundertaken overseas

Support available since October 2023
Previously and currently available support

18(ii) Acquisition of corporate bonds issued by a startup

Acquisitionof corporate
bonds

Foreign startup

Acquisition of
corporate bonds

Domestic startup,
MTE and SME

Overseas business* Startup: A company that was established or started operation within less than 10 years(excluding a subsidiary and other entity of a large company).

Prominent Initiatives in Recent Years(2) Expanded coverage of special operations

Assistance for risk taking● JBIC began Special Operations in October 2016 to enable further risk-taking for overseas infrastructure projects.
Projects are classified as Ordinary Operations or Special Operations and are accounted for under the respective“principle of mutual compensation.” However, the “certainty of repayment principle” does not apply to individual projects
in Special Operations, from the perspective of strengthening risk-taking functions.
● Development of energy and natural resources, commercialization of new technology and business models, and equity
investments in startups are now included in Special Operations to promote further risk-taking by Japanese companies.

Special operations account

Overseas
investment loan

Export loan

Untied loan

Equity investment

Acquisition of publicand corporate
bonds, etc.

(Currently) Overseas infrastructure projects

NEW• Development of energy and natural resources (including energy sources and rare metals such as
rare earths)• Commercialization of new technologies and business models (such as businesses that utilize
cutting-edge digital technology, green innovation-related businesses that utilize technologies tocontribute toward decarbonization, businesses that utilize FinTech to improve convenience forservice users)

NEW
Startups

Ordinary operations accountThose not included in special operations

Participate in international support for the recovery of Ukraine
JBIC is now able to provide guarantees for loans for the recovery of Ukraine by international financial institutions.

Guarantees for loans by international institutions

Participation in support for recovery of Ukraine● JBIC has expanded support tools by enabling to provide guarantees to “loans by international institutions” with an eye tosupporting reconstruction of Ukraine under international cooperation.
● The guarantees mentioned above are provided under the mission “Preventing disruptions to international financial orderor taking appropriate measures with respect to damages caused by such disruptions (Ordinary Operations Account).”
Financing

International institutions

Guarantee*

Projects necessary
for overseas
reconstruction
or development
under international
cooperation

Public financial institutions,etc. of foreign countries

Guarantee*

Banks, financial
institutions, governments,
etc. of foreign countries

Support available since October 2023
Previously and currently available support

Financing* The mission “Preventing disruptions to international financial order or taking
appropriate measures with respect to damages caused by such disruptions(Ordinary Operations Account).”

19

Prominent Initiatives in Recent Years

JBIC ESG Policy
Under its ESG Policy, JBIC has strengthened its sustainability governance and management systems and has been proactively
promoting green finance, transition finance, and social impact finance.In the meantime, we made our first information disclosures
based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) in October 2022. In April 2023,
we released the JBIC Human Rights Policy, which expresses our commitment to respecting human rights and also states our
expectations on clients and suppliers to respect human rights.
JBIC will act as a navigator in an era of transformation, and through engagement with the relevant stakeholders, further strengthen
its sustainability initiatives to proactively contribute toward fostering global sustainable development and resolving global challenges.
Respond to energy transformation toward the realization of a decarbonized society by ﬁnancing projects

E

Green ﬁnanceTransition ﬁnanceSupport eﬀorts to reduce greenhouse gas
emissions and popularize green innovation

Provide support for initiatives toward global
energy transition while working to engage
host countries

Environmentally conscious ﬁnancings and investments under Environmental and Social Guidelines*
Green Bond Issuance*JBIC Guidelines for Conﬁrmation of Environmental and Social Considerations.

Support projects that contribute toward resolving social issues

Social impact ﬁnance
Provide support for projects that assist in resolving social issues
to realize sustainable growth

S

Socially conscious ﬁnancings and investments under Environmental
and Social Guidelines
Promote human resource development and work style reforms that can
maximize performance and draw out vitality of diverse employees
Foster an organizational
culture that harnesses thediversity of employees as asource of vitality

G

Support autonomous
career development andcapacity development

Disclosures(e.g. the TCFD
recommendations)

Stakeholders

Improve the working
environment to enable
employees to continue
working with vitality

Strengthen sustainability governance and management systems
Strengthen the eﬀectiveness of the compliance system
Participate in international initiatives

Global Investment Enhancement Facility
In July 2022, JBIC established the Global Investment Enhancement Facility in order to support and accelerate overseas expansion ofJapanese companies with their cutting-edge technologies for the environment or digitalization or with their unique competitiveness.
The Global Investment Enhancement Facility, which consists of the Sustainability Window and the Global Value Chain
Resilience Window, is intended to support Japanese companies in: (i) the contribution toward preserving the global environment,
including decarbonization and (ii) the enhancement of supply chain resilience, the expansion of high-quality infrastructure, andthe creation of new overseas markets.

Japanese Companies, etc.

JBIC

Contribution toward preserving the global environment

Global Investment Enhancement Facility● Renewable energy, energy savings● Low-carbon technologies and materials

Sustainability Window● Technologies that are expected to contribute toward

Loan

preserving the global environment＊＊e.g. Prevention of air pollution, water pollution, and marine
plastic pollution

Global Value Chain Resilience Window

Enhancement of the resilience of the whole value chainsfrom upstream to downstream businesses● Enhancement of supply chain resilience

Japanese Commercial Banks, etc.

● Expansion of high-quality infrastructure

Loan
20

● Creation of markets by utilizing technologies or strengths

Environmental Conservation Efforts
Japan Bank for International Cooperation Guidelines for Confirmation ofEnvironmental and Social Considerations
As global concern over the environment and human rights heightens, there are more than a few cases, in which insufficient
risk management of possible environmental and social impacts has seriously affected project implementation or undermined
its social reputation.
In conducting these operations, JBIC confirms whether appropriate consideration for local communities and the naturalenvironment has been made in all the JBIC-financed projects based on the “Japan Bank for International Cooperation
Guidelines for Confirmation of Environmental and Social Considerations” (Environmental Guidelines).
The Environmental Guidelines set out the procedures, criteria and requirements that JBIC-financed projects must meet inconfirming environmental and social considerations. When JBIC judges that the project proponents have not made appropriate
environmental and social considerations, it will encourage them to take remedial measures. If appropriate environmental andsocial considerations have not been taken, JBIC may decide not to extend funding.
In addition, JBIC established and made public the “Japan Bank for International Cooperation Guidelines for Confirmation ofInformation Disclosure Considerations for Nuclear Sector Projects” (Information Disclosure Guidelines) . Based on the
Information Disclosure Guidelines, JBIC confirms that appropriate measures are carried out by project proponents and otherrelevant parties to ensure information disclosure and public participation for issues specific to each project.

◎ Procedure for confirmation of environmental and social considerations
Prospective projects are screened prior to funding, and classified into categories according to the degree of potential
environmental impact. An Environmental Review is then conducted to verify that the environmental and social impacts havebeen considered in a proper manner. After funding has been approved, projects are monitored to assess the actual impact.

Screening Form is submitted at
the time of funding request.

Project
Proponent

Status report is presented on
implementation of measures forenvironment and social considerations (monitoring).

Information necessary for
the Environmental Review issubmitted.

For Category A projects, an environmentand social impact assessment (ESIA)
report must be submitted.

Category B

Environmental Review (siteinspections are, in principle,
conducted for all Category A
projects.)

Category FI

Environmental Review*

Category A
Categorization

Funding
Commitment

Confirmation of
Monitoring (siteinspections conducted
as necessary)

Category C

Disclosure

The project outline, category and
ESIA report (required forCategory A) are, in principle,
disclosed on the JBIC website.

The Environmental Review and
Screening Form are disclosed on
the JBIC website (with the
exception of Category C projects).

In cases where the project
proponent discloses themonitoring report, the report is, inprinciple, also disclosed on the
JBIC website.

* For Category FI projects, JBIC confirms through the financial intermediary that the proper environmental and social considerations indicated in the Environmental
Guidelines have been followed for the project.

Projects are classified into one of the following four categories in relation to the degree of environmental impact, based on theinformation provided by the project proponent during the screening process.
Category A

Project with the potential for a serious and adverse impact on the environment.

Category B

Project with the potential for an adverse impact on the environment, but less than that of Category A projects.

Category C

Project with the potential for minimal or no adverse impact on the environment.

Category FI

Project for which JBIC provides funding to a financial intermediary, and after acceptance of JBIC funding, thefinancial intermediary selects and conducts screenings for specific subprojects, in cases where subprojects
cannot be determined prior to acceptance of JBIC funding, and where such subprojects are anticipated tohave an impact on the environment.
21Support for Mid-tier Enterprises and Small and Medium-sized Enterprises

Framework for Supporting Globalization Efforts of MTEs and SMEs
As economies in emerging market countries, especially in Asia, continue to develop, an increasing number of mid-tier enterprises(MTEs) and small and medium-sized enterprises (SMEs) seek to adapt to diversifying supply chains and expand their businessin emerging markets in addition to responding to the overseas advancement of their business partners. In line with these varying
purposes of expanding business overseas, their funding needs have also grown more diverse.
To respond to such diverse funding needs of MTEs and SMEs for their overseas expansion, JBIC has further strengthened
cooperation with Japanese private financial institutions and expanded its support measures from individual loan schemes basedon co-financing with private financial institutions to two-step loan schemes through private financial institutions, local
currency-denominated loans, and two-step loans to support finance leases. Additionally, JBIC has been further enhancing
cooperation not just with major financial institutions but also with private financial institutions, including regional banks andShinkin (credit) banks, and local financial institutions in countries where MTEs and SMEs are expanding their business.

◎ Characteristics of support to overseas business of MTEs and SMEs
(1) Prompt and flexible support to respond to funding needsof MTEs and SMEs (including loans of a relatively small amount)(2) Reducing currency exchange risk through local
currency-denominated loans in addition to loans inJapanese yen, U.S. dollar, and euro(3) Responding to diverse funding needs by utilizing variety
of financing tools, including loans for M&As, export loans,and equity investments(4) Collaborating with private financial institutions (megabanks, regional banks, Shinkin banks, and local financial
institutions) to respond to and support overseas businessof MTEs and SMEs in Japan(5) Utilizing networks of JBIC overseas offices in 18 cities toprovide information services on overseas investment
environment and assist solving issues with foreign
governments

Example of MTEs and SMEs* support schemes
1) Individual loan scheme
Overseas project **2) Two-step loan scheme (via Japanese financial institutions)
Equity investments,
increase of capital,
parent company/
subsidiary loan

Overseas subsidiary

Parent company(Japan)Japan

Japanese financial
institutions
JBIC

Parent company(Japan)Overseas subsidiary

Domestic loans(Back finance)(dollar/yen/euro/
other local currencies)

Direct loans(dollar/yen/euro/
other local currencies)

Overseas

Overseas projectOverseas

Japan

Japanese financial
institutions

Domestic loans (dollar/euro/other local currencies)* MTEs and SMEs are Companies capitalized at less than ¥1 billion or with not more than 300 employees. Consolidated subsidiaries of large companies are excluded.
** In principle, in developing countries.

◎ Cooperation with Japanese private financial institutions
Private financial institutions with MTEs and SMEs as their client base, play an important role when they seek to develop their businessexpand overseas. Among private financial institutions, regional banks and Shinkin (credit) banks have especially close ties to MTEs
and SMEs. In cooperation with such private financial institutions, JBIC broadly supports the overseas expansion of local Japanesecompanies by not just providing financial services but also co-hosting seminars focused on overseas business development etc.
In addition, JBIC has general agreements with a number of private financial institutions to establish credit lines as a means topromptly finance the funds necessary for the overseas business development by MTEs and SMEs in emerging market.

◎ Cooperation with local financial institutions in emerging countries
It is essential for MTEs and SMEs to obtain support from local financial institutions in countries where they are expanding theirbusiness, which are well acquainted with the local area. Besides supporting Japanese affiliates overseas, JBIC has also
strengthened its relationships with local financial institutions in emerging countries, for example, providing two-step loans to themwith the objective of fostering and supporting local companies that supply raw materials and parts to Japanese affiliates overseas. In
addition, JBIC has concluded MOUs with local financial institutions in Thailand, Indonesia, India, the Philippines, Vietnam, andMexico to set up a system to support overseas business expansion of MTEs and SMEs. Under these MOUs, JBIC has opened or
expanded a single contact point for overseas affiliates of Japanese companies (“Japan desk”) in these local financial institutions andhas established a framework to discuss cooperation and collaboration that involve Japanese private financial institutions.

◎ Providing local currency-denominated loans
JBIC provides loans in various local currencies, including the Thai baht, Indonesian rupiah, and Chinese yuan. Especially for MTEs
and SMEs running domestic demand-based businesses in respective countries, stable financing of local currency funds is an
important issue in their business strategy from the viewpoint of avoiding currency exchange risk. JBIC prepares long-term fixed-rate
local currency loans alongside with finance from private financial institutions to their Japanese clients’ affiliates overseas.
22◎ Information services and seminars
In addition to individual consulting services for MTEs and SMEs’ overseas expansion of their business, JBIC provides advisory
services to business partners and cooperating regional financial institutions through experts concerning the legal, accounting,and currency regulations related to tax affairs, employment and labor issues, contracts, company establishment, and otherissues for China, India, ASEAN, North America, Latin America, Europe, and the Middle East.
JBIC also organizes seminars and consultations on overseas business deployment in cooperation with organizations suchas private financial institutions, prefectural and municipal governments, and local chambers of commerce and industry. In
addition, it conducts field studies to assess investment climates in countries where Japanese companies are actively
expanding their business. The findings of these studies are compiled into guidebooks, which are available in book form andon JBIC’s website.

◎ Case studies
Indonesia

ThailandSHINKO KOGYO CO., LTD. (Okayama Prefecture)

Tsujiko Co., Ltd. (Shiga Prefecture)

Manufacture and Sale of Automotive Parts

Manufacture and Sale of Food Coloring

SHINKO KOGYO engages in the manufacture and sale ofcutting and processing parts for automobiles, such as brakeparts and wheel hubs. In 2014, SHINKO KOGYO established
PT. Shinko Kogyo Indonesia (PT. SKI) to expand its businessin Indonesia and is seeking to increase market share bybuilding an additional manufacturing facility. JBIC provided
an Indonesian rupiah-denominated loan to PT. SKI for its
business of manufacturing and selling automotive parts in
Karawang Regency, Indonesia. The loan is co-financed withTOMATO BANK, LTD.

Tsujiko engages in the manufacture and sale of electricmachinery and appliances. Recently, Tsujiko is also focusing
on agribusiness, including manufacture of food materials, andin 2022 established Anchan Natural Blue Co., Ltd. (ANB), in
Thailand. The aim is to manufacture natural blue food coloring
using butterfly pea.* and sell it in global markets. JBIC provided
a loan to ANB for its business of manufacturing and selling foodcoloring in Thailand. The loan is co-financed with THE SHIGABANK, LTD.
* Butterfly pea is a legume that blooms blue flowers. Blue powder made from its
dried, sterilized flowers is used to color food, such as chocolate and ice cream.

VietnamU.S.

KOBAORI Co., Ltd. (Kyoto Prefecture)

KOSHII & CO., LTD. (Osaka Prefecture)

Manufacture and Sale of Biomass Plastics

Manufacture and Sale of Interior Panels of Subway Cars

KOBAORI engages in the manufacture and sale of accessory
materials for apparel brands. HUARI (VIETNAM) PRINTING
AND PACKAGING CO., LTD. (HUARI (VIETNAM)), a joint
venture established by KOBAORI in 2016, is now manufacturing
RiceResin* and promoting its sales as an effort for businessdiversification. JBIC provided a loan to HUARI (VIETNAM) for
its business of manufacturing and selling RiceResin and otherbiomass plastics. The loan is co-financed with Resona Bank,
Limited.

KOSHII engages in the manufacture of wooden groundsills
and pillars for housing, to which its original preservative andtermite control technologies are applied. In 1996, KOSHII
established KOSHII MAXELUM AMERICA, INC. (KMA) in the
U.S. and is working to expand business utilizing its
technological capabilities related to wood materials. JBIC
provided a loan to KMA for its business of mainly
manufacturing and selling interior panels of subway cars in
the U.S. The loan is co-financed with Kansai Mirai Bank,
Limited.

* RiceResin is a biomass plastic developed in Japan, which uses wasted rice.

23

JBIC’s Profile

Corporate Philosophy
Positioned at the crossroads of global business opportunities, JBIC is opening new venues to the future
for the Japanese and global economy.
Hands-on Policy

Pioneering new value by participating at the forefront of overseas project development, and by engaging
proactively in projects from the early stages.

Customer-1st Approach

Offering customers one-of-a-kind solutions by adopting their perspectives and integrating their views into
policy development.

Forward-looking Action

Contributing to the sustainable development of Japan and the world as a whole by deploying highly
professional skills, with a view to realizing a secure and affluent future society.

Organizational Chart (as of January 31, 2024)● Domestic

Corporate Planning Group

Corporate Planning Department
Legal Affairs and Compliance Office
Human Resources Management OfficeSustainability Management Department
Strategic Research Department

Credit, Assessment and Risk Management Group

Credit Department
Environmental Assessment OfficeCountry Credit Department
Risk Management Department

Treasury and Systems Group

Treasury Department
Administration and General Services Department
IT Planning and Operations Administration Department

Energy and Natural Resources Finance Group

Energy Solutions Finance Department
Energy Transformation Strategy Office
Mining and Metals Finance Department

Infrastructure and Environment Finance GroupNew Energy and Power Finance Department Ⅰ
New Energy and Power Finance Department Ⅱ
Social Infrastructure Finance Department

Industry Finance Group

Corporate Finance Department
Finance Office for SMEs
Marine and Aviation Finance Department
Osaka Branch

Equity Finance Group

Equity Investment Department
Internal Audit Department
Office of Corporate Auditor● Overseas

Regional Head for Asia and PacificSingapore*
Beijing, Bangkok, Hanoi, Jakarta, Manila, New Delhi, Sydney

Regional Head for Europe, the Middle East and Africa

London*Moscow, Paris, Istanbul, Dubai

Regional Head for the Americas

New York*
Washington, D.C., Buenos Aires, Mexico City, Rio de Janeiro* Singapore, London and New York are assigned as core regional headquarters to supervise business and administrative activities and support
project formulation in Asia and the Pacific; Europe, the Middle East and Africa; and the Americas, respectively.
24

Funding Sources
Funding Sources: Actual

Unit: billions of yen

Financial Market
FILP
Bonds
Special Accountfor Fiscal
Investment and
Loan Program(FILP) Fund

Foreign
Exchange
Fund Special
Account

Investment
Fund
Account

FiscalLoan Fund
Account

CapitalContribution

Loans

Governmentguaranteed
Foreign
Bonds

FILP
AgencyBonds

Governmentguaranteed
Internal
Long-term
Funds*
Loans in * Repayments,
Foreignetc.
Currency

Loans

FY2020

FY2021

FY2022

Capital Contribution from FILP
Industrial Investment

80.0

60.0

85.0

Borrowing from FILP Fiscal Loan

14.9

11.5

909.2

Borrowing from Foreign
2,051.1
Exchange Fund Special Account

1,299.1

2,523.8

—

—

—

833.4

642.3

1,071.8———

Other Sources of Funds,
Including Repayments(1,119.2)

62.7(2,778.5)

Total

1,860.2

2,075.7

1,811.3

Government-guaranteed Long-term
Loans in Foreign Currency
Government-guaranteed
Foreign Bonds*
FILP Agency Bonds*

JBIC
Loans/investments

Japanese and foreign companies, foreign financial
institutions, foreign governments and government
agencies, multilateral financial institutions, etc.

* Figures for bonds are indicated at face value.

Overseas Network of Representative Offices (as of January 31, 2024)● ● ● Regional Headquarters● Moscow● London● ParisBeijing●●● Istanbul

New Delhi
Hanoi ●
Bangkok ●Washington, D.C.

Mexico City●

Dubai ●● New York●● Manila

Singapore ●● Singapore(Regional Headquarters
for Asia and Pacific)
9 Rafﬂes Place,#51-02 Republic Plaza,
Singapore 048619
Tel. 65-6557-2806
Fax 65-6557-2807● Beijing
2102, Tower C Ofﬁce Building,YINTAI Center,
No. 2 Jianguomenwai Avenue,
Chaoyang District,
Beijing 100022, P.R.C.
Tel. 86-10-6505-8989
Fax 86-10-6505-3829● Bangkok
21st Floor, Park Ventures Ecoplex, 57
Wireless Road, Lumpini, Pathumwan,
Bangkok 10330, Thailand
Tel. 66-2-252-5050
Fax 66-2-252-5514

Jakarta ●Rio de Janeiro●

Sydney●● Manila
11/F, Tower 1, The Enterprise Center,
6766 Ayala Avenue corner Paseo deRoxas, Makati City, Philippines
Tel. 63-2-8856-7711, 7712, 7713, 7714
Fax 63-2-8856-7715, 7716
● New Delhi
306, 3rd Floor, World Mark2, Asset No.8,
Hospitality District, Aerocity,
New Delhi-110037, India
Tel. 91-11-4352-2900
Fax 91-11-4352-2950● Hanoi
Unit 6.02, 6th Floor, CornerStone
Building, 16 Phan Chu Trinh Street,
Hoan Kiem District, Hanoi, Vietnam
Tel. 84-24-3824-8934, 8935, 8936
Fax 84-24-3824-8937● Sydney
Suite 4102, Level 41, Gateway Tower,
1 Macquarie Place, Sydney NSW 2000,
Australia
Tel. 61-2-9293-7980● Jakarta
Summitmas II 5th Floor,
Jl. Jenderal Sudirman, Kav. 61-62,
Jakarta Selatan, Indonesia
Tel. 62-21-5220693
Fax 62-21-5200975● London(Regional Headquarters for Europe,
the Middle East and Africa)
7th Floor, 80 Cheapside, London,
EC2V 6EE, U.K.
Tel. 44-20-7489-4350● Moscow
123610 Moscow,
Krasnopresnenskaya Nab. 12,
World Trade Center, Ofﬁce No. 905,
Russian Federation
Tel. 7-495-258-1832, 1835, 1836
Fax 7-495-258-1858● Buenos Aires● Paris
6-8, Boulevard Haussmann,
75009 Paris, France
Tel. 33-1-4703-6190● Washington, D.C.
1627 Eye Street, N.W., Suite 500,
Washington, D.C., 20006, U.S.A.
Tel. 1-202-785-1785
Fax 1-202-785-1787● Dubai
9th ﬂoor, West, The Gate Dubai
International Financial Centre,
P.O. Box 121300, Dubai, U.A.E.
Tel. 971-4-363-7091
Fax 971-4-363-7090● Buenos Aires
Av. del Libertador No. 498, Piso 19, 1001
Capital Federal, Buenos Aires,
Argentina
Tel. 54-11-4394-1379, 1803
Fax 54-11-4394-1763● Istanbul
Esentepe Mahallesi, Büyükdere Cad.
No:199/95, Levent 199, Kat (Floor)20 34394 Şişli/İstanbul, Türkiye
Tel. 90-212-337-4060● Mexico City
Paseo de la Reforma 222-900B,
Col. Juárez, Del. Cuauhtémoc,México D.F., C.P. 06600, México
Tel. 52-55-5525-6790
Fax 52-55-5525-3473● New York(Regional Headquarters for theAmericas)712 Fifth Avenue 26th Floor,
New York, NY 10019 U.S.A.
Tel. 1-212-888-9500
Fax 1-212-888-9503● Rio de Janeiro
Praia de Botafogo, 228, Sala 801B,
Setor A, Botafogo, Rio de Janeiro,
RJ, CEP 22250-906, Brazil
Tel. 55-21-2554-2305
Fax 55-21-2554-8798

25

JBIC (Head Office)

JBIC (Osaka Branch)

4-1, Ohtemachi 1-chome, Chiyoda-ku, Tokyo 100-8144, Japan
Tel: +81-3-5218-3100
Fax: +81-3-5218-3955

23rd floor, HERBIS ENT Office Tower, 2-22, Umeda 2-chome,
Kita-ku, Osaka-city, Osaka 530-0001, Japan
Tel: +81-6-6345-4100
Fax: +81-6-6345-4102(Legal Affairs and Compliance Office and IT Planning and Operations
Administration Department:14th floor, Keidanren Kaikan 3-2
Ohtemachi 1-chome,Chiyoda-ku, Tokyo 100-0004,Japan)

Hankyu Railway
Osaka-umeda Sta.

Nishikichogashi

Hitotsubashigashi

KKR

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The Ritz-Carlton
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Osaka Ekimae-Minami

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JR Tozai Line

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Osaka

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