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Clifford Chance

Clifford Chance

Briefings

Separation of JBIC from JFC under new JBIC Law offers more effective support to Japanese corporations for overseas investment

21 September 2011

Japan Bank of International Cooperation (JBIC) was formally a government-affiliated bank incorporated and registered pursuant to the Japan Bank for International Cooperation Law. Beginning 1 October 2008, it is currently the international finance sector of Japan Finance Corporation (Nihon Seisaku Kin'yuu Kouko) (JFC) which was established by merging the National Life Finance Corporation, the Agriculture, Forestry and Fisheries Finance Corporation, the Japan Finance Corporation for Small and Medium Enterprise together with the International Finance Operations of the former JBIC.

The "Joint Stock Company Japan Bank for International Cooperation Law (the New JBIC Law)" was enacted on 28 April 2011 and came into effect on 2 May 2011. Based on the New JBIC Law, JBIC will be separated from JFC and will be established as an independent judicial person (hojin) on 1 April 2012. The new name for JBIC will be the Joint Stock Company Japan Bank for International Cooperation.

The establishment of New JBIC Law with its functional enhancements will provide more effective support to private Japanese corporations for their overseas investments.
 

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