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ECONOMY

Development Bank of Japan to raise 300 billion yen in investments and loans

  • May 23, 2017
  • , Kanagawa Shimbun , p. 12
  • JMH Translation

On May 22, the Development Bank of Japan (DBJ) announced its medium-term management plan that spans three years from the business year that ends in March 2018. It will focus on the aerospace industry, which has promising growth prospects, and aims to raise 300 billion yen in investments and loans. The government owned bank will collect technical information necessary to support related industries by partnering with Japan Aerospace Exploration Agency (JAXA).

 

DBJ has already established a designated aerospace department within its organization, which will support the growth of the numerous associated companies spread across Japan. It also hopes to help develop the necessary infrastructure to launch rockets.

 

In addition, it has set up a local investment promotion department that works with local financial institutions to accelerate funding to small- and mid-sized enterprises operating in rural areas. The goal is to earn some 80 billion yen in net profits by the business year that ends in March of 2020.

 

“It is critical to the future of Japan’s industry,” replied DBJ President Masanori Yanagi in a press conference when asked about Toshiba Memory, Toshiba’s memory chip unit. “I hope it remains in the country.” Although he avoided any comments on bid participation, he said, “We will work to do what is necessary.”

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