Abstract
In June 2017, the Japanese Diet passed the Partial Revision of the Small and Medium-sized Enterprise Credit Insurance Act to Promote Improvements and Developments of SME’s Business Management (“Credit Guarantee System Reform Act”) to enhance the roles played by the credit guarantee system in terms of supporting SMEs. In this chapter, the author, who was a member of the Small and Medium Enterprise Policy-Making Council’s Financial Working Group (“Financial WG”), tries to explain the aims of this reform.
This chapter consists of the author’s personal opinions and interpretations and is not intended to represent the positions of the Small and Medium Enterprise Policy-Making Council’s Financial Working Group (the Financial WG) or the Small and Medium Enterprise Agency of the Japanese government. This chapter is a translation of Yamori (2017a, b, c) with some modifications.
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Notes
- 1.
When loans guaranteed with Emergency Guarantees become uncollectible, the banks extending the loans can receive 100% compensation from credit guarantee associations and therefore suffer no losses.
References
Yamori N (2017a) Fixing the misunderstanding about the proposed reform of the credit guarantee program. http://www.rieti.go.jp/en/papers/contribution/yamori-nobuyoshi/01.html. Accessed 19 Jul 2017 (Japanese version appeared in Kinyu Zaisei Jijyo 29 May 2017)
Yamori N (2017b) Challenges facing the managers of Japanese regional banks: human resources capable of helping customers solve problems are the key to success. http://www.rieti.go.jp/en/papers/contribution/yamori-nobuyoshi/02.html. Accessed 28 Sept 2017 (Japanese version appeared in Nihon Keizai Shimbun 29 Aug 2017)
Yamori N (2017c) Expectations for enhancement of functions that credit guarantee corporations will provide. Credit Guarantee 133:19–25 (in Japanese)
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Yamori, N. (2019). The 2017 Reform of Japan’s Credit Guarantee System and New Functions of Credit Guarantee Corporations. In: Roles of Financial Institutions and Credit Guarantees in Regional Revitalization in Japan. SpringerBriefs in Economics(). Springer, Singapore. https://doi.org/10.1007/978-981-32-9679-4_3
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DOI: https://doi.org/10.1007/978-981-32-9679-4_3
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