Special Investment Operations
About Special Investment Operations
Special Investment Operations, established as an intensive but temporary scheme to supply growth capital* from the perspective of promoting the competitiveness of Japanese enterprises along with regional revitalization, draw only a portion of the investment (industrial investment) from the Japanese government, enough to encourage the private sector to supply growth capital. Since launching the aforementioned operations in June 2015, DBJ has made ¥931.5 billion (as of March 31, 2021) in investments and loans (132 projects in total), the first ¥893.2 billion of which has spurred ¥5,714 billion in private-sector investments and loans.
Special Investment Operations follow policy objectives, in accordance with the law, complementing and encouraging private-sector enterprises and ensuring appropriate competitive relationships. To improve the structure of Special Investment Operations and thereby maintain objective evaluation and supervision of activities, an advisory body to the Board of Directors was established—the Special Investment Operations Monitoring Board—with participation from outside experts in financial and capital markets, industry, and other professional groups.
Based on the Act for the Partial Amendment of the Development Bank of Japan Inc. Act (Act No. 29 of 2020), which was enacted on May 22, 2020, Special Investment Operations were extended—the investment decision term and government financing term from March 31, 2021, until March 31, 2026, and the deadline for ending operations from March 31, 2026, until March 31, 2031.
* According to the Japanese government’s “Study Panel Concerning the Promotion of Expanding Growth Funding,” certain financial institutions, including DBJ, are expected to serve in a pump-priming capacity for the foreseeable future to attract private-sector investment by cultivating new capital providers, markets, and investors, thereby fostering the development of an investment cycle led by the private sector
Overview of Special Investment Operations
For its Special Investment Operations, to clarify priority areas for assistance, DBJ has set up the following three funds.
DBJ Innovation and Life Sciences Fund
In light of the July 17, 2020, Cabinet decision “Follow-up on the Growth Strategy,” in March 2021, we renamed the DBJ Innovation Ecosystem Invigoration Fund, which was created in March 2020, to clarify our support for strengthening the competitiveness of the life sciences industry.
Growth Fund for Coronavirus Revival
In May 2020, this fund was established to help businesses affected by COVID-19 rapidly and steadily recover and grow, in reflection of the April 7, 2020, Cabinet decision “Emergency Economic Measures to Cope with COVID-19.”
Green Investment Fund
This fund was created in February 2021, to support businesses that aim to improve the sustainability of natural resources and the environment, such as renewable energy businesses, in consideration of the December 8, 2020, Cabinet decision “Comprehensive Economic Measures to Secure People’s Lives and Livelihoods toward Relief and Hope.”
Through these three funds in Special Investment Operations, DBJ aims to reinforce the competitiveness of Japanese companies and invigorate regional economies while supplying growth capital to the private sector.
- Medium- to Long-Term Loans
- Structured Finance
- Asset Financing (Real Estate)
- Syndicated Loans
- Asset-Based Lending (ABL)
- Debtor-in-Possession Financing
- Crisis Response Operations
- Mezzanine Financing
- LBOs / MBOs
- Collaborative Fund Operations
- Special Investment Operations
- DBJ Certification Programs
- DBJ Sustainability Linked Loans with Engagement Dialogue
- DBJ Green Building Certification
- The DBJ Visionary Hospital Program
- Regional Emergency Response Program
- M&A Advisory Services
- Support for Women’s Entrepreneurship
- Support for Innovation
- New Business Development Support
- Public Asset Management
- Asset Management