Overview of JFM
Profile of JFM
| Name | Japan Finance Organization for Municipalities (JFM) |
|---|---|
| Establishment | 1 August 2008 (Reorganized on 1 June 2009) |
| Governing Law | Japan Finance Organization for Municipalities Law (Act No.64 of 2007, as amended) |
| Address | Shisei Kaikan, 1-3 Hibiya Koen, Chiyoda-ku, Tokyo |
| President and CEO | SATO Fumitoshi |
| Capital | USD 124.4 million |
| Number of Employees（include part-time） | 109 (as of April 2024) |
| Outstanding Loans as of 31 March 2023 | USD 174.6 billion |
| Outstanding Bonds and Bank Loans as of 31 March 2023 | USD 151.0 billion |
| Credit Ratings*1 as of 31 March 2023 | S&P: A+ Moody's: A1 R&I: AA+ |
| BIS Risk Weight*2 | 10% for JFM bonds (non-guaranteed) denominated in JPY |
Notes:
1. USD 1 = JPY 133.48 as of 31 March 2023.
2. The risk weight shown above is a value for investors in Japan. For overseas bonds, the value is determined by relevant regulatory authority in each country.
History
The Japan Finance Organization for Municipal Enterprises was established on 1 August 2008, with capital contributed by all prefectures, cities, special wards of Tokyo, government-designated cities, towns and villages, as well as some local government associations, to provide funds to local governments. JFM commenced its operations on 1 October 2008, succeeding to the assets and liabilities of Japan Finance Corporation for Municipal Enterprises (the “Predecessor”).
