Nippon Export and Investment Insurance
Nippon Export and Investment Insurance

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 ActOsaka 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 2020

Corporate Profile

NEXIʼs Insurance Business

About NEXI
Organization Name

Nippon Export and Investment Insurance

Date of Establishment

April 1, 2017

Act

Trade and Investment Insurance Act

PurposeTo conduct insurance business to cover risks which arise in foreign transactions not covered by

Trade and investment insurance covers risks associated with international trade and other overseas transactions that cannotbe 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.

ordinary 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

Government 100% Equityof Japan

Insurance
Contract

JapaneseCompany

Export,investment,financing,etc.

Foreign Country
Foreign Company
Overseas Project…………………………………………………… 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

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

Audit & Supervisory Board Member (Full-Time) ………… Keishi Nakamura

Political Risk※

Audit & Supervisory Board Member ……………………… Akio Otsuka
Audit & Supervisory Board Member ……………………… Tomoyo Matsui
Number of Employees

210 (as of April 1, 2020)

Brief History

Apr 2001

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

Jul 2015

Enactment of Act Revising a Section of the Trade and Investment Insurance Act● Sanctions imposed by the UN or countries other than destination countries

Apr 2017

Establishment of Nippon Export and Investment Insurance (“new” NEXI) as a

● Expropriation

special stock company● Natural disaster, or any other state of emergency which cannot be considered attributable to the party
to the contract(From 1950 through 2001, the trade and investment insurance was handled by
the Ministry of Economy, Trade and Industry, the former Ministry of International

Commercial Risk※

Trade and Industry.)
Domestic Offices

Head Ofﬁce: Tokyo
Branch Ofﬁce: Osaka

Overseas Offices

Branch Office: Singapore
Representative Offices: Paris and New York● 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<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 sum
presented. 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.

(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)＜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.

●In calculating the outstanding commitment, in principle, the foreign currency denominated insurance contract is calculated basedon the exchange rate at the end of each ﬁscal year.

2 NEXI Corporate Proﬁle

NEXI Corporate Proﬁle 3

FY2018
FY2019 Review of Performance

Promoting Collaboration in Third Countries

Underwritten Amount by Insurance TypeThe underwritten amount decreased by 6.3% year on year to approximately JPY 5.9 trillion in FY2019. This is mainly due todeclining performance in Export Credit Insurance. Meanwhile, Overseas Untied Loan Insurance increased by 23.2% to JPY 0.4trillion, and Buyer's Credit Insurance increased by 433.5% to JPY 0.2 trillion.
(FY)

2015

6.4

2016

5.3

2017

0.3

5.0

20194.5020.1
0.00.2

Buyer s Credit Insurance

0.4 0.2 7.30.6

AugustConcluded Reinsurance
Agreement with EKFEntered into a One-Stop-Shop Reinsurance Agreement with the EKF, Denmark’s Export Credit Agency(ECA), which has expertise in the field of renewableenergy.

Concluded MOU
with IsDB, ICIEC and ATI

Signed MOUs with the Islamic Development Bank(IsBD), Islamic Corporation for the Insurance ofInvestment and Export Credit (ICIEC), and African
Trade Insurance Agency (ATI) in the 7th Tokyo
International Conference on African Development(TICAD 7). The MOUs aim to strengthen support for
Africa and create a better financial environment. Also,
we agreed to establish a consultation counter called“Japan Desk”.

Concluded MOU
with Credendo

Signed an MOU with Credendo, the export credit
agency of Belgium, in order to create a framework formutual cooperation which effectively supports projects
jointly implemented by Japanese and Belgian companies.

2019

5.9

0.4 0.2

4

Export Credit Insurance

2019

Concluded Reinsurance
Agreementwith EXIM Thailand

7.8

0.2

0.3 0.2 6.3

0.7

0.6

0.5

July

0.4 0.2 6.3

0.1 0.45.9

2018

0.5

Entered into a reinsurance agreement with the Export-Import Bank of Thailand (EXIM Thailand) to support projects jointly conducted by Japanese and Thaicompanies. Also, an MOU was concluded to enhancemutual cooperation for further promoting the use ofthe reinsurance scheme.

6
Overseas Investment Insurance

8 （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 Region
Asia continued to account for the largest share with 54.5% (approximately JPY 3.4 trillion), followed by the Europe with 12.4%(JPY 0.8 trillion).
(FY)

2018

52.5

2019

５４.５

0

9.5

１２.４

20
Asia

40
CentralAmerica

Europe

9.7

9.9

８.６

4.5

８.０

60

MiddleEast

５.７

4.1 1.2 2.0

５.５ ３.９ １.２０.３

100 （%）

80

South
America

Africa6.6

NorthAmerica

October
2019

Internationalorganizations

Oceania

Outstanding Commitment by Insurance TypeConcluded Reinsurance

November Agreement

The outstanding commitment decreased by 10.0% year on year to approximately JPY 12.6 trillion in FY2019.
(FY)

20158.02016

0.97.4

2017
7.0

1.5

3.4

0.9

1.5

3.5

2019

0.9

6.00
Export Credit Insurance

0.8

4
Buyer s Credit Insurance

1.6

1.6

0.9

8
Overseas Investment Insurance

0.90.82019with US EXIM BankDecember

Concluded MOU
with MEHIB

14.1

0.8

3.6
3.4

0.8 14.5

3.3

0.9

7.5

2018

1.5

Entered into a reinsurance agreement with theExport-Import Bank of the United States (US EXIMBank) to enlarge the scope of mutual cooperation inreinsurance underwriting.

14.3

14.0

2019

12.6

12
Overseas Untied Loan Insurance

Signed an MOU with the Hungarian Export Credit
Insurance Plc. (MEHIB) to create a framework forcooperation which promotes the economic and trade
partnership between Japan and Hungary.

16（Trillions of Yen）
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.

4 NEXI Corporate Proﬁle

NEXI Corporate Proﬁle 5

Projects Covered by NEXI Insurance

Investment Project in Pineapple Plantation and Agro-Processing Facility

Sierra Leone

NEXI has provided overseas investment insurance for an investment project of establishing pineapple
plantation and agro-processing facility in the Republic of Sierra Leone, led by Dole International Holdings,
Inc. wholly owned by ITOCHU Corporation. NEXI has also offered reinsurance against portion of the risk
relating to the project, which the Multilateral Investment Guarantee Agency (MIGA) undertakes.

Date of signing of the insurance contract: April 2019
Date of signing of the reinsurance contract: June 2019

Palau International Airport ProjectPalauSoutheastAsia

NEXI has provided overseas investment insurance
to support Sojitz Corporation and Japan Airport
Terminal Co., Ltd. in their investments into Palau
international airport project that includes renovation,
expansion and operation of the existing terminal building, inthe capital of Palau.

In exporting broadleaf lumber from the Tohoku
region in northeastern Japan to Southeast Asia,
National Federation of Forest Owners’ Co-operative
Associations (JForest) based in Tokyo used Export Credit
Insurance for SMEs and AFF Sector efficiently to mitigate therisk of non-payments from new customers overseas, which areassociated with overseas transactions on deferred payment.

Date of signing the insurance contract: April 2019

Photo provided by ITOCHU Corporation

Export value covered by the insurance: JPY 2 million

Rendering image of the airport, provided
by Sojitz Corporation

RussiaDate of signing the insurance contract: January 2020

Photo provided by National Federation ofForest Ownersʼ Co-operative Associations

Arctic LNG2 Project

NEXI has provided overseas investment
insurance to Mitsui & Co., Ltd. for supporting its
equity participation into the Arctic LNG2 Project led
by PAO Novatek, Russia’s largest independent natural gas
producer, on the Gydan Peninsula in the country.

RussiaDate of signing the insurance contract: July 2019

Rendering image of the integrated liqueﬁed
natural gas facility, provided by PAO Novatek

Export of Centrifugal Compressors for
PJSC ACRON Urea Production Plant

NEXI has provided export credit insurance to Hitachi
Capital Corporation for supporting its export of centrifugal
compressors manufactured by Hitachi Industrial Products, Ltd.,for a urea production plant in the Russia, on a long-term deferredpayment basis over a five-year period.
Date of signing the insurance contract: September 2019

Photo provided byHitachi Industrial Products, Ltd.

SMEs ExportUkraine

Green Tea Exports

As for its export of Japanese green tea to Ukraine,
Yamama Masudaen Co., Ltd. based in Omaezaki City,
Shizuoka Prefecture used Export Credit Insurance for SMEs
and AFF Sector to prevent the counterparty risks.
Export value covered by the insurance: JPY 810,000
Date of signing the insurance contract: January 2020

RussiaExport value covered by the insurance: About JPY 2.8 million
Date of signing the insurance contract: July 2019

Changfang and Xidao
Offshore Wind Farm Project

NEXI has provided insurance for loans
extended to a new 589MW offshore wind farmproject located off the coast of Changhua County inTaiwan. In the project, MHI Vestas Offshore Wind A/S fromthe Kingdom of Denmark, of which 50% is owned by
Mitsubishi Heavy Industries, Ltd., is engaging in the supply,
installation and maintenance of the main equipment.
Date of sigining the insurance contract: February 2020

Wagyu Beef Exports

Regarding its export of Japanese beef to Russia, Ushichan FarmCo., Ltd. based in Ishinomaki City, Miyagi Prefecture applied forExport Credit Insurance for SMEs and AFF Sector to mitigate the risk ofnon-payments from Russian importers. This insurance application wasmade in accordance with the company’s change in payment terms foroverseas transactions from advance payment to deferred payment.

Photo provided byYamama Masudaen Co., Ltd.

TaiwanLumber Exports

Photo provided by Ushichan Farm Co., Ltd.

Bangladesh

Egg Farm Automation Equipment Exports

In exporting its egg farm automation equipment toBangladesh, Hytem Co., Ltd. based in Kakamigahara City,Gifu Prefecture, used Export Credit Insurance effectively toreduce the risk of non-payments from the trading partner intransactions on deferred payment.

Worldwide

Motorcycle Parts Exports

Export value covered by the insurance: JPY 150 million
Date of signing the insurance contract: December 2019

Photo provided by Hytem Co., Ltd.

DIRTFREAK CO. based in Seto City, Aichi Prefecture, has taken out
Comprehensive Export Insurance with Simplified Procedure in order toreduce the risk of non-payments from trading partners, which are associated with
export transactions of motorcycle parts around the world on deferred payment.
Date of signing the insurance contract: June 2019

Photo provided by MHI Vestas Oﬀshore Wind A/S

6 NEXI Corporate ProﬁlePhoto provided by DIRTFREAK CO.

NEXI Corporate Proﬁle 7