Operational Results in FY2011

Transcription

Operational Results
in FY2011
3
1
Operations by Region
34
2
Supporting Globalization Efforts of SMEs
49
3
Efforts in the Environmental Sector
53
4
Studies and Research Activities, and Partnerships
with Universities and Research Institutions
56
JBIC Annual Report 2012
33
1· Operations by Region
China
Asia
3
Loan for Manufacturing and Sales of Hydrofluoric Acid and Fluorine Chemical Products:
Support for Expanding Customer Base and Market Share in the Chinese Market Having Increasingly Intense Competition
JBIC signed a loan agreement with Jiangxi Datang Chemicals Co. Ltd., a corporation majority owned by DAIKIN
INDUSTRIES, LTD. (DAIKIN) in Jiangxi Province, China,
supporting their operations in manufacturing and sales
of hydrofluoric acid and fluorine chemical products, which
are used to manufacture fluorine resin and fluorine paints.
DAIKIN has the second largest world market shares in
fluorine chemicals, and they plan to expand their customer base and market share in China, the important
market, through offering a variety of products with improving its profits through stable supplies of inexpensive core
China
1. Operations by Region
raw materials.
Loan for Manufacturing and Sales of Automobile Seat Parts:
Supporting the Overseas Business Deployment of SMEs in Collaboration with a Japanese Regional Bank
JBIC signed a loan agreement with Matsumoto Industry Co., Ltd. (“Matsumoto Kogyo”), one of the SMEs in
Kitakyushu City to finance the manufacturing and sales
project of automobile seat parts by Matsumoto Kogyo
through Hubei Matsumoto Auto Parts Co. Ltd., a subsidiary
of Matsumoto Kogyo in Xiangyang, Hubei, China. This
is the first loan signed under the business cooperative
agreement between JBIC and The Bank of Fukuoka, Ltd.
in August 2011 for a local SME, and the total amount of
the co-financing is ¥80 million.
China
MOU on Establishing Japan-China Energy Efficiency and Environment Fund:
Supporting Promotion of Energy Saving and Environment Businesses
JBIC signed a Memorandum of Understanding (MOU) with
seven entities, including Mizuho Corporate Bank, Ltd., JGC
Corporation, The Export-Import Bank of China and Tsing
Capital Co., Ltd. on the establishment of the fund that would
invest in the energy efficiency and environmental protection
sector in China. The Government of China regards the environment area as one of the top policy agendas. The fund is
expected to contribute to realize joint projects undertaken
by Japanese and Chinese companies and apply Japanese
companies’ advanced environmental technology to the
fund-financed projects, thereby contributing to the expansion of business opportunities for Japanese companies in
the energy efficiency and environment sector in China.
34
3
Supporting Japanese Companies’ Exports and Business Expansion
JBIC signed a MOU for the purpose of enhancing finan-
Mongolia
Asia
MOU for Strengthening Mutual Relations with the Mongolian Government:
cial cooperation including provision of an export credit
line1 with the Ministry of Finance of Mongolia. The MOU
states that the two institutions will share information and
hold regular consultations that could possibly help to
increase Japan-Mongolia business and trade activities in
the resource, infrastructure and manufacturing sectors.
With this MOU, JBIC seeks to strengthen institutional arrangements to support Japanese companies for doing
business in such areas as mineral resource development
and associated infrastructure development in Mongolia.
It is expected that this MOU will strengthen the two
countries’ economic relations.
Indonesia
Export Loans for Java-Bali Submarine Power Cables Replacement Project:
Supporting Japanese Export for Indonesia’s Power Infrastructure Project
JBIC signed a loan agreement of buyer’s credit2 with the
Government of Indonesia (GOI). The loan will be onlent
from GOI to a state-owned power company, PT. PLN
(Persero) (“PLN”), to finance the project in which PLN will
purchase a submarine power cables system between the
islands of Java and Bali from a consortium that includes
Sumitomo Corporation and J-Power Systems Corporation.
This project will enable a stable supply of power to Bali
Island, which is suffering a serious power shortage, by
utilizing Japanese facilities and technologies.
Indonesia
Loan Agreement for Manufacturing and Sales of Auto and Motorcycle Parts:
Supporting Japanese Businesses in Growing of Auto and Motorcycle Market in Indonesia
JBIC signed a loan agreement for supporting operations
of auto and motorcycle parts (power steering, bearings
and scooter clutch) manufacturing and sales in Indonesia,
with PT. JTEKT INDONESIA, a subsidiary established in
Indonesia and owned by JTEKT CORPORATION. Against
a background of expanding of Japanese automobile and
parts manufacturing businesses in Indonesia with growing
middle class and consistent economic growth in recent
years, JTEKT group is also actively investing in Indonesia.
1. An export credit line is a form of export credit in which JBIC makes a commitment of the maximum amount of credit to be extended to its client (foreign banks or other
entities) to finance exports of machinery, equipment and services from Japan.
2. A buyer’s credit is a loan JBIC directly extends to a foreign importer (buyer) to finance its import of machinery and equipment from a Japanese company.
35
Indonesia
Asia
3
MOU on Cooperation with a Government Agency in Indonesia for Overseeing and
Controlling Upstream Oil and Gas Business Activities:
Promoting Japanese Gas-Related Business
JBIC signed a MOU with Badan Pelaksana Kegiatan Usaha
Hulu Minyak dan Gas Bumi (BPMIGAS), a government
agency in Indonesia for overseeing and controlling upstream oil and gas business activities, to build a business
model that will lead to expand the country’s overall supply of natural gas and to promote gas-related business
by Japanese companies in Indonesia. The total capacity
of natural gas supply in Indonesia is expected to enhance
amid increasing domestic energy demand. At the same
time, it contributes to create natural gas-related business
Malaysia
opportunities for Japanese companies in Indonesia. Loan for Manufacturing and Sales of Encapsulant Sheets for Solar Cells:
Supporting Japanese Businesses’ Share Increase in Growing of Solar Cell Market in Malaysia
JBIC signed a loan agreement for supporting manufacturing and sales of encapsulant sheets for solar cells, with
MCTI SCIENTEX SOLAR SDN. BHD., a Malaysia subsidiary
of Mitsui Chemicals Tohcello, Inc. The solar cells market
is expected to grow in Europe, Japan, China, the U.S.
and other parts of world. It is also expected that this
loan contributes to secure the market share by Japanese
companies, and to maintain and enhance the international
competitiveness of Japanese industry.
Singapore
Loan for Ship Export to Shipping Company:
Supporting Export of Ships Built in a Japanese Shipyard
JBIC signed buyer’s credit agreements with Dampskibsselskabet NORDEN A/S (NORDEN). These loans are intended to finance a NORDEN’s subsidiary incorporated
in Singapore, to purchase two 37,000-DWT bulk carriers3
built by ONOMICHI DOCKYARD CO., LTD. at its Onomichi
Dockyard (Onomichi City, Hiroshima Prefecture). These
loans provide financial support for the export of ships built
in a Japanese shipyard, thereby contributing to maintaining and improving the international competitiveness of
the Japanese shipbuilding industry.
3. A bulk carrier is a cargo ship designed to transport dry bulk cargo such as grain, coal, ore, etc.
36
Supporting Japanese Business for Developing Overseas Integrated Infrastructure System
JBIC singed a loan agreement of project financing4 with
3
Thailand
Asia
Project Financing for Natural Gas-fired Combined Cycle Power Plant in Thailand:
Gulf JP NS Co., Ltd. (GNS), a subsidiary of Electric Power
Development Co, Ltd. (J-POWER) in Thailand, for financing a project to build and operate a natural gas-fired
combined cycle power pant with the capacity of 1,600
MW in Nong Saeng district, Saraburi Province. The project
is a typical form of Japanese deployment of overseas
integrated infrastructure system project, with J-POWER
leading the project deploying the latest facilities and
technologies by Mitsubishi Heavy Industries Ltd.
Supporting Japanese Companies in Growing Asian Market
Thailand
Loan for Manufacturing and Sales of Spunbond Nonwoven Fabric for Disposable Diapers:
JBIC signed a loan agreement for supporting manufacturing and sales of spunbond nonwoven fabric for disposable
diapers, with Asahi Kasei Spunbond (Thailand) Co., Ltd., a
subsidiary of Asahi Kasei Fibers Corporation. The disposable diaper market in Asia is forecasted to continue to
grow at a high rate, backed by economic growth in the
region with expanding population and increasing buying
power. This loan contributes to maintain and enhance
the international competitiveness of Japanese industries.
Viet Nam
Export Loan for Coal-fired Power Project in Viet Nam:
Supporting Export of Power Plant Equipment by Japanese Companies
JBIC signed a loan agreement with Vietnam Oil and Gas
Group (Petrovietnam: PVN). The loan will finance the procurement of steam turbines and related equipment as a
whole from Toshiba Corporation and Sojitz Corporation,
as PVN will construct a coal-fired power plant in Ha Tinh
Province located in the central region of Viet Nam. This
loan contributes Viet Nam in developing the country’s
power supply infrastructure to meet increasing demand
backed with steady economic growth.
4. Project finance is a financing structure that relies primarily on the cash flow generated by the project for repayment. It is used for financing large projects in such sectors as
power generation and oil, gas or other natural resource development.
37
India
Asia
3
Export Credit for Supercritical Coal-fired Power Generation Project:
Supporting Japanese Export of Thermal Power Generation Equipment to India
JBIC signed a loan agreement with ICICI Bank Limited
(ICICI), the largest private sector bank in India, to finance
the Japanese export to India of high efficiency and performance boilers and turbines built with high compression
technologies5 by the consortium of Marubeni Corporation and Mitsubishi Heavy Industries, Ltd. This is for its
supercritical pressure coal-fired thermal power plant to be
built and run by Nabha Power Ltd. in the State of Punjab,
India. This loan contributes India to solve the tight supply
of electricity, from its rapid economic growth, through the
development of power infrastructure.
India
Loan for Building Factory of Transmission Belts for Automobiles and Motor Scooters:
Supporting Expansion of Market Share for Japanese Companies in India’s Automobile Market
JBIC signed a loan agreement supporting to build a fac-
tor scooter market is expected to grow with an increas-
tory in Bangalore for manufacturing of transmission belts
ing large middle class population and BANDO plans to
for automobiles and motor scooters with Bando (India)
expand its clients base and market share in the Indian
Private Ltd., a subsidiary established by Bando Chemical
market.
Industries Ltd. (BANDO) In India, the automobile and mo-
South Asia
Participating in Fund Focusing on Clean Energy Investments:
Contributing to Reduction of Greenhouse Gas
JBIC signed an agreement for equity participation in South
Asia Clean Energy Fund, L.P. that will invest principally in
clean energy and environmental sectors in South Asia
(India, Bangladesh, Nepal and Sri Lanka). This is the first
equity investment made by JBIC in its GREEN operation
(
see p. 69). By supporting these projects through the
Fund, it is expected to help reduce GHG emissions and
preserve the global environment.
5. High compression technology is the technology used in power generation by operating supercritical turbines and boilers at very high temperature and pressure above water’s
critical point. It is expected to help to reduce greenhouse gas (GHG) with higher fuel efficiency compared to sub-critical coal fired technology.
38
3
Supporting Japanese Electric Company’s Participation in the LNG Project
JBIC signed a loan agreement with Kyushu Electric Wheatstone Pty Ltd., an Australian subsidiary of Kyushu Electric
Australia
Oceania
Energy and Natural Resource Financing for Acquisition of Interest in the LNG Project:
Wheatstone and
Iago fields
Power Co., Inc. (Kyushu Electric). It intends to support
Julimar and
Brunello fields
the acquisition of partial interest in the upstream LNG
reserves (development of gas fields) and liquefaction
facilities related to natural gas and LNG produced in
Wheatstone Iago Field and nearby fields located northwest off Western Australia, to Ashburton North, Western
Australia. Kyushu Electric Power plans to import annually
Australia
830,000 tons of LNG from this project.
Perth
Ashburton North
Sydney
(liquefaction and port facilities, etc.)
50㎞
Australia
Energy and Natural Resource Financing for Developing New Mining Block in Queensland:
Supporting Japanese Company’s Participation in Overseas Coal Mining Development Project
0
In order to secure stable procurement of coking coal to
Japan, JBIC signed a loan agreement with Mitsui Kestrel
Coal Investment Pty Ltd., an Australian subsidiary of Mitsui
& Co., Ltd. to develop a new mining block in the Kestrel
Mine, Queensland. The quality of coal produced by the
Kestrel Mine is rated highly by Japanese blast furnace
steelmakers for having good property as coking material,
and has been sold mainly to Japan. The project thus has
significant implication for securing stable procurement of
coking coal for Japan.
Australia
Energy and Natural Resource Financing for the Project of Liquefying CBM in Queensland:
Supporting a Japanese Gas Company’s Participation in the CBM-LNG Project
JBIC signed a loan agreement with Tokyo Gas Co., Ltd.
(Tokyo Gas) for the acquisition of upstream interests and
the liquefaction train of coal-bed methane (CBM)6 gas
produced on Curtis Island off the coast of Gladstone,
Queensland, from the CBM gas field in the Surat basin
of the same state. This is the first loan provided by JBIC
for the CBM-LNG project. Tokyo Gas plans to import 1.2
million tons of LNG from multiple LNG sources, including
this project, in the next 20 years from 2015.
6. Coal-bed Methane is a form of natural gas extracted from coal beds, and is becoming popular as non-conventional natural gas, along with shale gas.
39
Australia
Oceania
3
MOU with the Western Australian Government and the State of Queensland:
Supporting Japanese Companies in Securing the Natural Resources
JBIC signed MOUs on comprehensive strategic partnerships with the Western Australian government through
its Department of State Development and the State of
Queensland through its Department of Employment, Economic Development and Innovation. Western Australia is
endowed with abundant mineral and energy resources
including iron ore, nickel, alumina, gold, crude oil and
natural gas, while, Queensland is endowed with coal,
crude oil and natural gas. Through deepening of the economic relationships with state governments, JBIC supports
Japanese companies’ business activities related to natural
Marshall Islands
resources and infrastructure in Australia.
Buyer’s Credits for Ship Exports to Marshall Islands:
Supporting Export of Bulk Carriers Built in a Japanese Shipyard
In support of exporting ships built in a Japanese shipyard, JBIC signed buyer's credit agreements with three
ship owning companies incorporated in Marshall Islands
owned by Safe Bulkers, Inc. to finance the export of three
vessels built in a Japanese shipyard. These loans support
the export of the ships and contribute to maintain and
strengthen the international competitiveness of Japanese
shipbuilders. Also, these were JBIC’s first buyer’s credit
loans made to the buyers in Marshall Islands.
Papua New Guinea
Project Financing for Procurement of LNG Tanker:
Supporting Long Term and Stable Supplies of LNG to Japan
JBIC signed a loan agreement with Bahamas LNG Shipping Ltd., a wholly-owned subsidiary of Nippon Yusen
Kabushiki Kaisha in Bahamas, for procurement of a new
LNG tanker, to be used for The Tokyo Electric Power
Company to import LNG produced in PNG LNG Project
in Papua New Guinea. Given the fact that natural gas has
been playing an increasingly important role as fuel for
generating electricity, this loan contributes to securing a
long-term supply of natural gas to Japan by utilizing the
know-how of a Japanese shipping company.
40
3
Supporting Japanese Exporters through Local Financial Institutions
JBIC signed a loan agreement with Vnesheconombank
Russia
Europe
Export Loan for Urea Fertilizer Plant in Russia:
(VEB) in Russia to finance the purchase of a whole set
of machineries and equipment by Joint Stock Company
Ammoni in Russia, from Mitsubishi Heavy Industries, Ltd.
and Sojitz Corporation for constructing a urea fertilizer
plant in Mendeleevsk, the Republic of Tatarstan, Russia.
It is expected that this loan will help to expand Japanese
companies’ business opportunities in Russia.
Russia
Export Loan for Wood Processing Machinery and Equipment in Russia:
Supporting Export Business of a Japanese SME
JBIC signed a loan agreement with Vnesheconombank
(VEB) in Russia, to finance the purchase of veneer production facilities by Amurskaya Lesopromyshlennaya
Kompaniya LLC. from Hashimoto denki Co., Ltd. for its
wood-processing plant in Khabarovsk. This is to support
the expansion of export business by a Japanese SME, and
to contribute to maintain and improve the international
competitiveness of Japanese industries.
Russia
Export Credit Line for Sberbank in Russia:
Supporting Japanese Exports of Machineries and Equipment
JBIC signed a loan agreement for an export credit line
with Sberbank of Russia, the largest commercial bank in
Russia, to finance the import by Russian companies of
machineries, equipment and services, including construction machineries, from Japanese exporters. Since 2010,
the Russian economy has been back on a steady recovery
path. This credit line is expected to support exports of
machineries and equipment to Russia by Japanese companies, thereby contributing to the expansion of overseas
markets and maintaining and improving the international
competitiveness of Japanese companies.
41
United Kingdom
Europe
3
Buyer’s Credit for Ship Export to World’s Largest Cruise Ship Operator:
Supporting Export of Large Cruise Ships Built in a Japanese Shipyard
JBIC signed two buyer’s credit agreements for ship exports
with Carnival plc incorporated in the United Kingdom and
Carnival Corporation incorporated in Panama, the world’s
largest cruise ship operator, to finance the purchase of
two 125,000-ton large cruise ships from Mitsubishi Heavy
Industries Ltd. The ships will be built in its Nagasaki Shipyard (in Nagasaki City, Nagasaki Prefecture). JBIC is now
empowered to finance ship exports to developed countries, pursuant to the JBIC Act promulgated and entered
into effect on May 2, 2011 and the related government
areas.
Switzerland
Loans to Finance a Purchase of Smart Meter Company:
Supporting Overseas M&A of Japanese Companies
JBIC provided a loan to Toshiba Corporation, through
Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd.,
and The Bank of Tokyo-Mitsubishi UFJ, Ltd. for financing
the purchase of Landis+Gyr AG, a major Swiss company,
that manufactures and markets the smart meters. Toshiba
plans to further develop its global business of Smart Community and Smart Grid businesses with this acquisition.
42
Switzerland
3
Supporting the Overseas Deployment of Integrated Infrastructure Systems by Japanese Companies
JBIC signed a loan agreement with Phoenix Power Com-
Oman
The Middle East
Project Financing for Natural Gas-Fired Combined Cycle Power Project:
pany S.A.O.C. in Oman, a joint venture set up by Marubeni
Corporation, Chubu Electric Power Co., Inc., Qatar Electricity & Water Company Q.S.C. and Multitech L.L.C. to finance its project of constructing and operating the natural
gas-fired combined cycle power plant with a capacity of
2,000 MW, in Sur, 150 km southeast of Muscat, the capital
of Oman. This project, to be completed in 2014 according
to the plan, would be the largest Independent Power
Producer (IPP) in Oman and is expected to meet about
one quarter of the national power demand at that time.
Strengthening Multi-Layered Relations with Resource-Endowed Country through Financial Support for
Export of Large Plant by Japanese Company
Qatar
Project Financing for Export of the Equipment of Natural Gas Treatment Facilities:
JBIC signed a buyer’s credit agreement with Barzan Gas
Company Limited, a joint venture of Qatar Petroleum,
a state-owned oil company in Qatar and an affiliate of
Exxon Mobil Corporation, a U.S. corporation, to finance
the construction of the country’s largest natural gas treatment facilities, for which JGC Corporation was awarded
planned location
the contract. With this loan, JBIC supports the export
of Japanese plants and equipment, at the same time,
contributes to Qatar’s stable economic development
and strengthens multi-layered relations with Qatar, an
Qatar
important supply source of resources to Japan.
Turkey
Export Credit Line for Enka Pazarlama in Turkey:
Supporting Export of Japanese Construction Machinery
JBIC signed a loan agreement with Enka Pazarlama Ihracat
Ithalat A.S., a regional enterprise importing and selling
construction equipment and other industrial machinery in
Istanbul, Turkey for the purchase of machinery and other
equipment from Japan. Since 2005, JBIC has provided
several credit lines to finance Enka Group for purchasing
construction machinery and other equipment from Japan.
This loan is a follow-on of these credit lines to meet the
growing demand for infrastructure.
43
Turkey
The Middle East
3
Guarantee for Privately Placed Samurai Bonds Issued by the Government of Turkey:
Contributing the Samurai Bond Market and Diversifying the Funding Sources of Turkey
JBIC signed a set of agreements to provide a guarantee
for yen-denominated foreign bonds (Samurai bonds) issue
by the Government of Turkey in the Tokyo bond market
as part of the Guarantee and Acquisition toward Tokyo
market Enhancement (GATE) facility. This guarantee supports Samurai bonds issue in the Tokyo bond market
through the provision of credit enhancement, thereby
making available to Japanese investors a broader, diverse
range of investment opportunities, and increasing activities in the Tokyo bond market. In the meantime, JBIC also
supports the Government of Turkey to diversify its funding
United Arab Emirates
sources.
Project Financing for Natural Gas-Fired Combined Cycle Power Plant:
Supporting the Overseas Deployment of Integrated Infrastructure Systems by a Japanese Company
JBIC signed a project finance loan agreement with Shuweihat Asia Power Company P.J.S.C., incorporated in the
United Arab Emirates (UAE) and invested by Sumitomo
Corporation, to finance the construction and operation of
a natural gas-fired combined cycle power plant (capacity
1,600 MW) in Shuweihat, 250 km southwest of Abu Dhabi.
There has been a growing expectation to strengthen the
multi-layered economic relationship through supporting of
infrastructure deployment in the UAE, beyond the bound
by natural resource trade.
44
Turkey
Supporting Stable Long-Term Supply of Woodchip by a Japanese Company
JBIC signed a loan agreement with Sojitz Maputo Cel-
3
Mozambique
Africa
Energy and Natural Resource Financing for Woodchip Manufacturing and Sales Project:
lulose, Limitada (SOMACEL), a wholly-owned subsidiary
of Sojitz Corporation Group in Mozambique, for financing
a woodchip manufacturing and sales project to be undertaken by SOMACEL in Maputo Province, Mozambique. Japan acquires woodchips from overseas as a raw material
for producing paper, and their imports meet more than
half of its domestic demand for woodchips. Meanwhile,
world supply for woodchips is expected to get increasingly tight over the medium and long term. As this project
provides a new supply source of woodchips to Japan, it
has a significant implication for sourcing a stable supply
of woodchips.
Extending Export Credit Line to Afreximbank:
Supporting Japanese Companies Export Businesses to Africa
JBIC signed a loan agreement with the African ExportImport Bank (Afreximbank) for extending an export credit
line. It intended to provide loans for local companies in Africa to purchase machinery, equipment and services from
Japanese companies. In recent years, African countries
have achieved remarkable economic development, as the
result, the demand for development of infrastructure and
consumer markets is growing. It is hoped that this loan
will help sustainable growth in this region and contribute
to the expansion of Japanese business activities in Africa.
Canada
North America
Energy and Natural Resources Financing for a Shale Gas Project:
Supporting the Acquisition of Interests and Development of Shale Gas by Japanese Companies
JBIC signed a loan agreement in Canadian dollars with
Cordova Gas Resources Ltd., a Canadian subsidiary of Mitsubishi Corporation; Tokyo Gas Co., Ltd.; Chubu Electric
Power Co., Inc.; and Osaka Gas Co., Ltd., to finance CGR’s
acquisition of a 50% interest in the Cordova Embayment,
British Columbia, Canada and for the development of
shale gas fields. This loan will support the development
of shale gas, which has been expected to become a new
source of natural gas in recent years, thereby contributing
to securing energy resources and their stable supply to
Japan.
45
Canada
North America
3
Energy and Natural Resource Financing for Aluminum Smelter Project:
Supporting the Acquisition of Additional Interest in Aluminum Smelter by Japanese Company
JBIC signed a loan agreement with Marubeni Metals &
Minerals (Canada), Inc., supporting the acquisition of additional interest in the Alouette Aluminum Smelter project
in Quebec, Canada. Aluminum is an essential metal for
Japanese industries, as it can be used in various products
such as automobile parts, precision instruments, etc., with
its characteristic light weight, high corrosion resistance
and workability. This project contributes to secure a long
term and stable supply of aluminum ingot to Japan.
Canada
Energy and Natural Resource Financing for Acquiring Interest in Coal Mine:
Contributing to Securing Energy Resources and Their Stable Supply
JBIC signed a loan agreement with Marubeni Corporation
for acquisition of, through Marubeni Coal Canada Ltd.,
40% of equity shares in Grande Cache Coal Corporation,
which holds the Grande Cache Coal Mine in Alberta.
The coking coal produced in this mine will be supplied
to Japanese blast furnace steelmakers and coke manufacturers over the long term, thus this transaction has a
major significance in securing a stable supply of coking
coal to Japan.
Brazil
Latin America and the Caribbean
Project Financing for an Ultra-Deepwater FPSO Operation Project:
Supporting Offshore Resource Development and Strengthening International Competitiveness of Japanese Industries
JBIC signed a loan agreement of project financing with
Cernambi Sul MV24 B.V., a company incorporated in the
Netherlands in which MODEC, Inc., Mitsui & Co., Ltd.,
Mitsui O.S.K. Lines, Ltd., and Marubeni Corporation have
equity stakes, for financing a project in which a long
term FPSO system (built by MODEC) chartering services
(including operations and maintenance) to be offered
to a consortium formed in the Netherlands by Petróleo
Brasileiro S.A., a state-owned oil company in Brazil. This
FPSO vessel will be deployed for developing the Cernambi South area of Brazilian offshore pre-salt oil field.
46
3
Finance in Brazilian Real and Financial Cooperation in the Third Countries
JBIC signed MOUs with Banco Nacional de Desenvolvi-
Brazil
mento Economico e Social (BNDES) for the purpose of
cooperation in long-term financing in Brazilian Real and
in the third countries. It is expected that these MOUs will
promote Japanese companies’ investments with growing
financial demand in recent years for infrastructure development in Brazil, and for natural resources development
in the third countries, such as Africa and other American
countries.
Chile
MOUs with BNDES:
Project Financing for Copper Mine Development Project:
Supporting Japanese Companies for Large Scale Copper Mine Development
JBIC signed a loan agreement with Sierra Gorda SCM, a
company incorporated in Chile and invested in by Sumitomo Metal Mining Co., Ltd. and Sumitomo Corporation,
for financing the development of the Sierra Gorda Copper
Mine Project in the Antofagasta Region. Since Japan relies
solely on imports for copper concentrate from Chile and
other countries, this will help to secure long-term and
stable supply of copper resources to Japan.
Colombia
Export Loan for Hydraulic Power Plant Project:
Supporting Japanese Companies Export of Hydraulic Power Generation Equipment
JBIC signed a buyer’s credit agreement with ISAGEN S.A.
E.S.P., a company incorporated in Colombia, to finance
the purchase of a set of equipment including generators
from a consortium of Mitsui & Co. Plant Systems, Ltd. and
Toshiba International Corporation, as it constructs a hydraulic power plant (capacity 820MW) to be constructed
and operated by ISAGEN in the Sogamoso river basin
in Santander in the northeastern part of Colombia. It is
expected that this helps to create business opportunities
for Japanese industries in the power sector in Colombia.
47
Mexico
Strengthening Global Competitiveness and Supporting Overseas Business Expansion of Japanese Steel Industries
JBIC signed a loan agreement with TENIGAL, S.de R.L. de
C.V., a joint venture formed in Mexico by Nippon Steel &
Sumitomo Metal Corporation and Ternium S.A., for undertaking the project of manufacturing and selling hop-dip
galvanized and galvannealed steel sheets to meet increasing demand for automotive steel sheets in Mexico. JBIC
also provided a guarantee of the co-financed portion. The
steel sheets produced will be sold to automotive manufactures in Mexico, including Japanese, U.S. and European
affiliates, to be used for their high-end automobiles.
Uruguay
3
Loan and Guarantee for Hot-Dip Galvanized Steel Sheet Manufacturing and Sales Project:
Guarantee for Privately Placed Samurai Bonds Issued by the Government of Uruguay:
Contributing to Activate the Samurai Bonds Market and Diversifying the Funding Sources of the Uruguayan Government
JBIC signed a set of agreements to provide a guarantee for
yen-denominated foreign bonds (Samurai bonds) issue by
the Government of Uruguay in the Japanese bond market
as part of the GATE facility. By supporting Samurai bond
issues by foreign issuers in the Tokyo bond market with
credit enhancement through JBIC’s guarantee, thereby
making available to Japanese investors, it helps to expand
and diversify the investment opportunities, and increase
the activity of the Samurai bond market. At the same
time, JBIC helps the Uruguayan government to diversify
its funding sources.
Urguay
Credit Line with BCIE:
Contributing to Promote Global Environmental Sustainability in Cooperation with Multilateral Regional Financial Institution
JBIC signed a loan agreement with the Banco Centroamericano de Integración Económica (BCIE), as part
of JBIC’s GREEN operations, to promote the renewable
energy projects in Central American countries. This loan
is expected to contribute to accelerating the harnessing of renewable energy and reducing greenhouse gas
emissions, while disseminating advanced environmental
technologies in Central America countries. 48
2· Supporting Globalization Efforts of SMEs
As globalization of the world economy advances, it has be-
region, etc., forming partnerships with overseas local financial
institutions. JBIC has signed MOUs with KASIKORNBANK Public
small and medium enterprises (collectively "SMEs") to actively
Company Limited (KASIKORNBANK) in Thailand in May 2011,
develop their overseas businesses, and JBIC supports their
PT. Bank Negara Indonesia (Persero) Tbk. (BNI) in July 2011
activities by providing information and holding seminars on
and the State Bank of India in August 2012, to provide a
the overseas investment climate, as well as directly supporting
support framework for SMEs to expand their overseas busi-
the financing of their overseas businesses. Also, JBIC supports
nesses through Japanese regional financial institutions. With
them through collaboration with domestic regional financial
these MOUs, JBIC has set up a framework and continued
institutions and overseas local financial institutions in emerging
to cooperate and collaborate on opening and expanding a
market countries.
“Japan desk” at overseas local financial institutions, and on
preparation of more concrete plans to support Japanese SMEs
More precisely, these include supplementing the financial
who are clients of Japanese regional financial institutions, for
their overseas business deployment. Many Japanese regional
cluding the assumption of political risks; cooperating with do-
financial institutions have already joined the program, with 24
mestic regional financial institutions, prefectural and municipal
banks under the MOU with KASIKORNBANK and 23 banks
governments, and local chambers of commerce and industry;
under the MOU with BNI, as of the end of August 2012.
providing information and consulting services on transactions
with overseas business partners; publishing guidebooks on
overseas investment climates that are prepared based on
field studies; and holding seminars and other events. 2. Supporting Globalization Efforts of SMEs
transactions implemented by private-sector financial institutions in the areas where it is difficult to provide services, in-
3
come imperative for Japanese mid-tier enterprises as well as
KASIKORNBANK and JBIC
at signing
Overseas Investment Seminar
BNI and JBIC at signing
 Strengthening of Support Function for SMEs
Upon the inauguration of JBIC in April 2012, the financial function in respective projects and information services regarding
the overseas investment climate were enhanced by setting up
new units dedicated to supporting SMEs in the Head Office
 Partnership with Japanese Regional Financial
Institutions
JBIC signed cooperation agreements with The Senshu Ikeda
and the West Japan Office as part of the Industry Finance
Bank, Ltd. (Senshu Ikeda) in July 2011, and with The Bank of
Group. Moreover, JBIC provides knowledge and advice on
Fukuoka., Ltd. (Fukuoka Bank), Kumamoto Family Bank, and
investing overseas and how to start business overseas, coop-
The Shinwa Bank, Ltd., members of Fukuoka Financial Group
erating with prefectural and municipal governments, and local
Inc., in August 2011, to cooperate on information exchange
chambers of commerce and industry, which are supporting the
related to the overseas business operations of Japanese
overseas business of local companies. In addition JBIC holds
companies, including Japanese local SMEs, and the invest-
a mobile counseling office on a regular basis and provides
ment climate of overseas hosting countries. Based on these
advice on the overseas investment climate and know-how on
agreements, in March 2012, in cooperation and collaboration
long term financing in Sendai, Ota, Tokyo and Nagoya.
with Fukuoka Bank, JBIC provided the financing for an SME
that is an automobile parts manufacturer in Kita Kyushu City
 Partnerships with Overseas Local and Japanese
Regional Financial Institutions
in Fukuoka prefecture to start their first overseas operation
in China. In July 2012, JBIC signed a loan agreement to set up
JBIC also supports Japanese SMEs, developing a support
a credit line in U.S. dollars with Senshu Ikeda, supporting the
framework for them to expand their businesses into the Asian
overseas business deployment of SMEs.
49
3
Whatismore,inJuly2012,JBICheldaconferencewith
InJune2012,JBICheldaseminarattheWestJapanOfficefor
inBangkok,Thailand,toexchangeopinionsaboutsupport-
SME clients in Western Japan, on the subjects of “business
ingJapanesecompaniesoperatinglocally,andJBICplansto
skilldevelopmentofJapanesestaffinoverseasoffices,”and
furtherstrengthenitsfunctionofprovidingsupporttooverseas
“Utilizationoflocalresidentsandlocalhumanresources.”
businessdeploymentbySMEs,throughcooperationandcollaborationwithJapaneseregionalfinancialinstitutions.
 Partnership with Foreign Government and
Government Agencies
InSeptember2011,JBICsignedanagreementwiththeOffice
oftheBoardofInvestmentofThailand,toexchangeinformationoninvestmentsbyJapanesecompaniestoThailand.This
2. Supporting Globalization Efforts of SMEs
agreementisexpectedtosupportSMEs’overseasbusiness
deployment in Thailand, through information exchange on
investments by Japanese companies and maintaining close
cooperation.
 Providing Reports on the Overseas Investment
Climate
JBIC has prepared information materials on investment climatesinforeigncountriesbasedonfieldstudiesandinterviews,andmadethemavailabletointerestedclients.These
investmentclimateseriesareavailableinprintaswellasWeb
publicationsontheJBICWebsite.
50
 Other Efforts
localrepresentativesofJapaneseregionalfinancialinstitutions
Round-tableconferencewithSMEs
Cases of Supporting Efforts of SMEs
TOKUSEN has strengthinthemanufacturingofsteelwire
forthereinforcementofautomobiletiresandsawingwire
forthecuttingofsiliconslicesforsemiconductorsandsolar
panels.Inthecontextofagrowingmarket,atitssubsidiary
inChina,KanaiTOKUSENCo.,Ltd.manufacturesthesame
products.JBICprovidesfinancingtotheparenttofinancethe
expansionofmanufacturing facilities at the
subsidiary.
RP TOPLA Limited.
Manufacturing and Sales of Synthetic Resin Spout Molding
RPTOPLAhasstrengthinsyntheticresinspoutmoldingfor
homeelectricalappliances,OAequipment,transportation
equipment,equipmentforthehome,andindustrialmaterial.Atitssubsidiary,PT.TOPLAHYMOLDINDONESIA,the
companyexpandedthemanufacturingcapacityofvarious
moldingpartstomeetthegrowingdemandbackedbythe
country’s economic
growth. JBIC provides
financing to the subsidiarytosupporttheir
expansionoffacilities.
Manufacturing and Sales of Special Steel Wire
Indonesia
China
TOKUSEN Co., Ltd.
Indonesia
China
FukudaMetalFoil&POWERhasadvancedprocessingtechniquesaccumulatedthroughitslongcompanyhistory,and
manufactures metal powder and electrolysis foils used in
variousmachinepartsandprintedcircuitboardsforelectronicequipment.Itssubsidiary,SuzhouFukudaMetalCo.,
Ltd.manufactureselectrodepositedcopperfoilinhighdemand, backed by the
expansionoftheelectricequipmentmarket.
JBICprovidesfinancing
to the parent to support the expansion
of foil manufacturing
facilities at the subsidiary.
Manufacturing and Sales of Filters for Automobile and
Construction Equipment
China
theiroverseasbusinessdeployment.
Manufacturing and Sales of Electrodeposited Foil
Wako Filter Technology Co., Ltd.
WakoFilterTechnologyhasstrengthinthemanufacturing
ofvariousfiltersforautomobileandconstructionequipment,
aswellasfiltersforhighpressurehydraulicfluidequipment
andforoilplantequipment.AtitsHenanPeaceFilterCo.,Ltd.,
a subsidiary in China, the company manufactures the filters,keepingitspricecompetitiveandmeetingcustomers’
needs for local production.JBICprovides
financingtotheparent
tofinancemanufacturing and sales of variousfiltersforautomobile and construction
equipmentatthesubsidiary.
JBICsupportsSMEsinawiderangeofindustrieswith
Fukuda Metal Foil & POWER Co., Ltd.
3
YAMATOGAWA SHIKO Co., Ltd.
Manufacturing and Sales of Film for Disposable Diapers
YAMATOGAWASHIKO’sstrengthisinthemanufacturingof
awiderangeofpapercores,suchascoresforhousehold
wrappingfilm,forgeneralconsumerandindustrialproducts
suchasrollpapermanufacturers,andbuildingmaterials.At
itsIndonesiansubsidiary,PT.YAMATOGAWAINDONESIA,
film and film winding paper cores for disposable diaper
are manufactured. JBIC
providesfinancingtothe
parent to support their
subsidiary’s expansion
of production capacity
in Indonesia, targeting
the growing disposable
diaper market backed
by the country’s recent
economicgrowth.
51
Resona Perdania, an Indonesia subsidiary of Resona Bank
Limited,hasawiderangingclientbase,mostlyinlocalsubsidiariesofJapaneseSMEs.JBICprovidesfinancingtoResonaPerdaniaformakinglong-termloanstosubsidiariesof
JapaneseSMEs.
Manufacturing and Sales of Automobile Parts
TAMANO KASEI has strength in plastic automobile parts,
especiallyinwashernozzles,andsellsitsproductstomajor
autopartssuppliers.ItestablishedanIndonesiansubsidiary,
PT.TamanoIndonesia(TMI)tocapturethegrowingAsian
auto parts market from increasing automobile demand,
backed by stable economic growth. JBIC provides financing to the parent to
support manufacturing and sales of automobile parts at the
subsidiary.
Asabareshapeautopartssupplier,SAMTECHhasstrength
inprecisionhotforging,coldforgingandflowformingparts
forautomobiles,especiallyinwheelhubunitbearings(outer
ringandinnershaft)withitsuniqueproprietarytechnology,
andalsomakeseffortsintheresearchanddevelopmentof
autopartsforfuturefuelcell-poweredvehicles.AtSamtech
(Thailand)Co.,Ltd.,asubsidiaryinThailand,itplannedto
manufacturefacilitieswiththemostadvancedtechnology
for the manufacturing
ofhubunitbearingsin
November 2012. JBIC
provides financing to
thesubsidiarytosupporttheexpansionof
itsfacilities.
Viet Nam
Manufacturing and Sales of Automobile Parts
Viet Nam
SAMTECH Corp.
Two-step Loans for Local Projects by SMEs
Thailand
TAMANO KASEI CO., LTD.
Thailand
PT. Bank Resona Perdania
Indonesia
52
Indonesia
3
Sankin Corporation
Manufacturing and Sales of Cold Drawn Steel Tubes
SankinCorporation’sstrengthisinthemanufacturingofcold
drawnsteeltubesforautomobileparts.Atitssubsidiaryin
Thailand, SANKIN THAILAND CO., LTD., cold drawn steel
tubesandcompressorpartsforairconditionersaremanufactured,onthebackofthegrowingautomobilemarketin
ThailandandSoutheastAsiancountries.JBICprovidedfinancingtothesubsidiarytoexpandproductionfacilitiesforthe
manufacturingofmorehighprecisionproducts.
OGINO KOGYO Co., Ltd.
Manufacturing and Sales of Automobile Engine
Components
OGINOKOGYO’sstrengthisintheintegratedproduction
of automotive parts, such as in deformation and machine
processing,heattreatmentandpolishingofmaterials,aswell
as in new product development. The company produces
engineandtransmissionpartsatitssubsidiaryinVietNam
(OGINOVIETNAMCORPORATION).JBICprovidedfinancing
tothesubsidiaryto
buildandexpandits
productionfacilities.
Kyoto Biken Laboratories, Inc.
Manufacturing and Sales of Veterinary Vaccines
KyotoBikenspecializesinveterinaryvaccinesforpets,inadditiontolivestock,andproducesveterinaryvaccines.KYOTO
BIKENHANOILABORATORIESCO.,LTD.,isitssubsidiaryin
VietNam,afirstoverseasbusinessinVietNam.JBICprovidesfinancingtotheparenttosupporttheintroductionof
productionfacilities.
3· Efforts in the Environmental Sector
Supporting Environmental Conservation and Improvement Projects
environmentalsustainabilityisrecognizedasacommonchal-
projectsthataimtorealizeenvironmentallysustainablecities.
lengefacingdevelopedanddevelopingcountriesalike.Given
thisself-realization,therearegrowingexpectationsacrossthe
portingenvironmentconservationandimprovementprojects,
worldonimplementingprojectsconducivetoenvironmental
nottomentionenvironmentalandsocialconsiderationsbeing
conservationandimprovement.
madeinindividualprojects.JBICalsolaunchedGREEN(Global
Awiderangeofeffortsareunderwayallovertheworldin
actionforReconcilingEconomicgrowthandENvironmental
thissector,includingenergyefficiencyimprovementprojects;
preservation) operations in April 2010 and has since been
renewableenergyharnessingprojectssuchassolarandwind
activelyfocusingitssupportoneffortstoconservetheglobal
powergeneration;highlyefficient,highperformancecoal-fired
environment, such as projects that are expected to signifi-
thermal power generation and natural gas-fired combined-
cantlyreducegreenhousegas(GHG)emissions,whiletaking
cyclepowerprojectsthatreducecarbondioxideemissions;
accountoftheglobaldisseminationofJapan’sinternationally-
urban transport projects such as transit rails that mitigate
acclaimedadvancedenvironmentaltechnologies.
Amidthesedevelopments,JBICisdevotingitselftosup-
trafficcongestionandreduceairpollution;smartgridprojects
Examples:
Supporting Renewable Energy and Energy Efficiency Projects in India
JBICprovidedaloan,bywayofanIndianlocalbank,necessaryforfinancing
renewable energy and energy efficiency projects in India that contribute to
reducingthecountry’sGHGemissions.UndertheNationalActionPlanonClimateChange(NAPCC),India’smediumandlong-termenvironmentpolicy,the
Indiangovernmenthasbeenmakingavarietyofefforts.JBIC’sloanisexpected
notonlytocontributetoreducingGHGemissionsinIndiaandpromotingthe
Indiangovernment'senvironmentalpolicy,butalsotocontributetodisseminating
advancedenvironmentaltechnologies.
3
3. Efforts in the Environmental Sector
that supply efficient power supply by using IT and eco-city
Nowadays,achievingeconomicdevelopmentcompatiblewith
Mitigating Traffic Congestion and Air Pollution in Brazil
JBICprovidedaloantothemetroconstructionprojectundertakenbytheGovernmentoftheStateofSãoPaulo.ThecityofSãoPaulo,renownedasthecenterof
theBrazilianeconomy,isplaguedbysuchemergingurbanproblemsaschronic
trafficcongestionandairpollution.Thisprojectisexpectedtomitigatecongestionandairpollutionbydevelopingurbantransportinfrastructure.
Supporting Wind Power Project in Bulgaria
JBIC provided a loan to a wind power project in Bulgaria whereby Japanese
companiesparticipatebyholdingequitystakesintheproject.ThispowergenerationprojectharnessingrenewableenergyislocatedintheKaliakradistrict
oftheMunicipalityofKavarna,acityonthecoastoftheBlackSea.Theproject
utilizesJapanesewindpowerplantequipment.Thisprojectwasalsovalidated
bytheUnitedNationsasaJointImplementation(JI)projectundertheKyoto
Mechanisms,asitreducesGHGemissionsthroughinvestmentandtechnology
providedbyJapanesecompanies.Thisisasignificantcaseofaprojectdirectly
leadingtotheacquisitionofemissioncreditsbyJapan.
53
3
Partnerships and Knowledge Sharing in the Environmental Sector
Asenvironment-relatedprojectsareexpectedtobeimple-
participatinginrelevantevents,whileformingclosepartner-
mented in many places across the world with the aim of
ships with foreign governments and government agencies,
realizingglobalenvironmentalconservationandalow-carbon
domesticprefecturalandmunicipalgovernments,andother
economy, JBIC is supporting Japanese overseas business
stakeholders.
deploymentaswellaseffortsbeingmadebyforeigngovernments, not only in financing but through information sharing and knowledge dissemination by holding seminars and
Holding a Workshop in Malaysia
JBICorganizedinJune,2011,the“Malaysia-JapanGreenTechnology
Workshop”jointlywithMalaysia’sMinistryofEnergy,GreenTechnologyandWaterinKualaLumpur.Theobjectivewastopromote
collaborationbetweenJapanandMalaysiainenvironmentalbusiness. More than 100 participants from government agencies and
representativesfromprivatebusinessesseekingtoenterthismarket
inbothcountriesattendedtheworkshop.TheMalaysianparticipants
presentedtheirlocalinstitutionsandtheJapaneseparticipantspresentedtechnologies,includingsolarandbiomasspowergeneration.
Participating in the International Water Week in Singapore
The 4th Singapore International Water Week (SIWW 2011) was
heldinJuly2011.Avarietyofforumsandnetworkingeventswere
organizedtopursuehowtodevelopsustainablewaterinfrastructure
amid rapid urbanization across the world. A director and a staff
memberofJBICparticipatedintheJapanBusinessForumandthe
IndiaBusinessForumasaspeakerandapanelmemberinthepanel
discussionrespectively.
Holding a Symposium on Environmental Projects
InOctober2011,JBICheldasymposiumon“RenewableEnergyand
EnergyEfficiencyInvestmentOpportunities”inTokyo,jointlywiththe
EuropeanBankforReconstructionandDevelopment(EBRD),with
supportfromtheJapanAssociationforTradewithRussiaandNIS
(ROTOBO), Japan External Trade Organization (JETRO) and Japan
InstituteforOverseasInvestment(JOI).Thebroaderuseofrenewableenergyandthepromotionofenergyefficiencyaremajorpillars
oftheNewGrowthStrategyadvocatedbytheJapanesegovernment.
Theyarealsotopicsthatareattractingincreasingglobalattention
inmitigatingglobalwarming.Intheseminar,theactivitiesofEBRD
intheseareaswerepresentedandavigorouspaneldiscussionwas
heldwiththeparticipantsfromJapanesecompanies.
54
Growinginterestinenvironmentalconservationhasledtoa
tionGuidelinesforConfirmationofEnvironmentalandSocial
worldwidetrendformorerigorousenvironmentalregulations.
Considerations”(EnvironmentalGuidelines).
Therearenotafewcases,especiallyinoverseasprojects,in
whichinsufficientriskmanagementofpossibleenvironmental
teriaandrequirementsthatJBIC-financedprojectsmustmeet
andsocialimpactshasseriouslyaffectedprojectimplementa-
inconfirmationofenvironmentalandsocialconsiderations.
tionorunderminedsocialreputation.
When JBIC judges the project proponents have not made
appropriateenvironmentalandsocialconsiderations,itwill
Inconductingtheseoperations,JBICconfirmswhetherthe
TheEnvironmentalGuidelinessetouttheprocedures,cri-
encourage them to take remedial measures. If appropriate
munitiesandthenaturalenvironmentinalltheJBIC-financed
environmentalandsocialconsiderationshavenotbeentaken,
projectsbasedonthe“JapanBankforInternationalCoopera-
JBICmaydecidenottoextendfunding.
Procedure for Confirmation of Environmental and Social Considerations
Prospectiveprojectsarescreenedpriortofunding,andclassifiedintocategoriesaccordingtothedegreeofpotentialenvironmentalimpact.An
EnvironmentalReviewisthenconductedtoverifythattheenvironmentalandsocialimpactshavebeengivenproperconsideration.Afterfunding
hasbeenapproved,projectsaremonitoredtoassesstheactualimpact.
Project
Proponent
Screening form is
submitted at time of
funding request.
Status report is presented on implementation of measures for environment and
social considerations (monitoring).
For Category A projects, an
environment impact assessment
(EIA) report must be submitted.
Category A
JBIC
Information necessary
for the Environmental
Review is submitted.
borrower made appropriate considerations for local com-
3
Japan Bank for International Cooperation Guidelines for
Confirmation of Environmental and Social Considerations
Categorization
Category B
Environmental Review (Site inspections are in principle conducted for all Category A projects)
Category FI
Environmental Review*
Funding
Commitment
Confirmation of
Monitoring
(Site inspections conducted as necessary)
Category C
Disclosure
The project outline,
category, and EIA
report (required for
Category 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 the
monitoring report, the
report is in principle
also disclosed on the
JBIC website.
*ForCategoryFIprojects,JBICconfirmsthroughthefinancialintermediarythattheproperenvironmentalandsocialconsiderationsindicatedin
theEnvironmentGuidelineshavebeenfollowedfortheproject.
Projectsareclassifiedintooneofthefollowingfourcategoriesinrelationtothedegreeofenvironmentalimpact,basedontheinformationprovided
bytheprojectproponentduringthescreeningprocess.
CategoryA: Projectwiththepotentialforaseriousandadverseimpactontheenvironment.
CategoryB: Projectwithanadverseimpactontheenvironment,butlessthanthatofCategoryAprojects.
CategoryC: Projectwithminimalornoadverseimpactontheenvironment.
CategoryFI: ProjectforwhichJBICprovidedfundingtoafinancialintermediary,andafteracceptanceofJBICfunding,thefinancialintermediary
selectsandconductsscreeningsforspecificsubprojects,incaseswheresubprojectscannotbedeterminedpriortoacceptance
ofJBICfunding,andwheresuchsubprojectsareanticipatedtohaveanimpactontheenvironment.
55
4· Studies and Research Activities, and Partnerships with
Universities and Research Institutions
3
JBIC has been conducting studies and research on trends
 Partnerships with Foreign Government Agencies
regarding foreign direct investment (FDI) over the years and
In November 2011, the Economic Forum of The Export-Import
exchanged views and information with foreign government
Bank of China, The Export-Import Bank of Korea and JBIC was
agencies, research institutions at home and abroad and ex-
held in Tokyo. In this Forum, economists practicing economic
perts in the relevant fields, thereby collecting and analyzing a
survey and sovereign risk assessment got together and ex-
variety of information, as well as sharing knowledge with them.
changed views and information on various issues in the global
economy and political and economic conditions in emerging
 Survey Report on Overseas Business Operations by
Japanese Manufacturing Companies
market and developing countries. In this 5th meeting since
the first Forum held in 2009, a panel discussion among the
Since 1989, JBIC has conducted an annual survey report on
participants from the three banks was opened to the public,
overseas business operations by Japanese manufacturing
with support from the Graduate School of Public Policy of the
companies. The survey in FY2011 is the 23rd of this annual
University of Tokyo.
series of survey. As it seeks to identify Japanese manufactur-
4. S
tudies and Research Activities, and Partnerships with
ers’ policy direction and agenda in their overseas business
activities from a unique perspective and with consistency, it
has been drawing attention from a broad spectrum of readers.
The results of the
survey were compiled
into a report and published in print, as well
as posted at the JBIC
Website, for external
readers. These results
were also disseminated through seminars
held in several regions across Japan in cooperation with the
local chambers of commerce and industry and regional financial institutions to share the information with a broad range
of audiences. In addition, JBIC held explanatory meetings with
overseas Japanese chambers of commerce and industry and
foreign governments for acquainting their members with these
results. The findings of the survey were also used effectively
in making policy proposals to foreign governments.
The findings of the survey and the seminars were often
reported in the news media, such as newspapers, and the
articles and commentaries drawing on this survey are con-
The Economic Forum of The Export-Import Bank of China, The Export-Import Bank
of Korea and JBIC (above and below)
tributed to the news media.
 Partnerships with Universities
In August 2011, JBIC signed a comprehensive partnership
agreement with Hitotsubashi University for making contributions to advances in academic research and human resource
development in the field of finance. As part of cooperation
under this agreement, JBIC donated a special lecture series,
titled “Project Finance,” to the Hitotsubashi MBA Program
(HMBA) of the University’s Graduate School of Commerce and
Management. The lectures start from the second semester
of academic year 2012. In this series, JBIC staff will teach the
theory, practice and case studies of project finance in English
based on the experiences of JBIC, as it has provided project
finance to a large number of projects for overseas energy
Overseas Investment Seminar
and other resource development, private sector-participated
infrastructure development and other projects over the years.
56
In a similar effort, JBIC sponsored the establishment of a
visiting chair on project finance in the Graduate School of
an event is expected to stimulate cooperation for achieving
Management of Kyoto University in 2010.
concrete results by deepening the understanding of common
and governments in the Asian region.
In February 2012, the National Graduate Institute for Policy
Studies (GRIPS) · JBIC Joint Forum, titled “After Fire and Flood:
Thailand’s Prospects,” was held in cooperation with GRIPS. The
A speaker at the podium of the international conference in Thailand “Asian Regional
Cooperation: Mega-infrastructure Investment in Asia amid Global Uncertainties in
Thailand”
Forum was organized to find the perspective on the way forward for Thailand, with which Japan has a close relationship,
JBIC also co-organized, in February 2012, a workshop,
to overcoming its political turmoil in the past few years and the
titled “Infrastructure Financing: Indian and Japanese Perspec-
flood damage in the second half of 2011, and thereby achiev-
tives,” with the Indian Council for Research on International
ing further development. The Forum invited researchers from
Economic Relations (ICRIER) in India. The workshop focused
Chulalongkorn University, which is internationally acclaimed
on the role and agenda of public private partnership (PPP) for
in the field of political and economic research on Thailand,
moving forward infrastructure development and the issues fac-
and Center for Southeast Asian Studies, Kyoto University, for
ing Indian domestic financial and capital markets. During the
a joint presentation and discussion with the audience.
workshop, the participants from the academic and business
4. S
tudies and Research Activities, and Partnerships with
Hitotsubashi University
3
policy issues among the participants from industry, academia
communities in Japan and India as well as from international
organizations engaged in discussion. This conference represents part of JBIC’s efforts to forge deeper relations with the
economic policy think tank, with which JBIC has continued
dialogue on economic relations between Japan and India to
date. In addition, it is expected to contribute to increasing
the understanding on a strategy for drawing investments to
mega-infrastructure covering a broad region among the representatives of industry, the academic community and the
government in major Asian countries.
GRIPS•JBIC Joint Forum “After Fire and Flood: Thailand’s Prospects”
 Partnerships with Overseas Research Institutions
In February 2012, JBIC and the Fiscal Policy Research Institute
(FPRI) in Thailand co-organized an international conference,
titled “Asian Regional Cooperation: Mega-infrastructure Investment in Asia amid Global Uncertainties in Thailand,” in
Bangkok. Speakers attended to the conference were not only
from Japan and Thailand but from China and Korea as well,
and discussion took place among academics and representa-
The workshop in India “Infrastructure Financing: Indian and Japanese Perspectives”
tives from private enterprises and international organizations.
About 250 people attended the 2-day conference. The joint
event was held through cooperation between JBIC and FPRI,
with which JBIC had cultivated ties over many years. Such
57

Operational Results in FY2011

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