Okinawa Development Finance Corporation (ODFC), Okinawa Shinkō Kaihatsu Kin'yū Kōko (沖縄振興開発金融公庫), is a Policy-based financial services institution. ODFC's headquarters are located in Tokyo, Japan.[2]
The ODFC's key role is to promote the development of industries in Okinawa. This is through the provision of long-term loans and other financial facilities to small and medium-sized entrepreneurs in the island that are in the agriculture, housing, forestry, fishery and medical industries.[3] The ODFC will also finance citizens who have met difficulties obtaining funding from private financial institutions. Through such financial assistance, the ODFC aims to vitalize the local economy of Okinawa and aid in the development of the local society.[4]
Historyedit
The Okinawa Development Finance Corporation was established on May 15, 1972 with the passing of the Okinawa Development Finance Corporation Law.[3] This law was established along with Okinawa's return to Japan from American military occupation in order to carry out a unified and comprehensive policy-oriented financing in Okinawa.[5] The ODFC's objective was also to fill the socio-economic gaps that existed between Okinawa and mainland Japan.[6]
The Law led to the consolidation of the following special public corporations into the then newly formed ODFC:
Masses Finance Corporation (大衆金融公庫) - Founded in 1964 by the Ryukyu government to finance livelihood funds that target residents
Various Ryukyu government special development accounts including:
Industrial development funds flexibility special account
Agriculture, Forestry and Fisheries funds flexibility special account
Housing construction funds flexibility special account
Carrier construction funds flexibility special account
As of March 2015[update], the ODFC has lent out ¥ 946.3 billion and ¥ 4.2 billion in loans and investments respectively, 211 employees and 6 Offices.[7]
Jurisdictionedit
ODFC is subject to the supervision of the Prime Minister and the Minister of Finance under the law.
Governanceedit
The Okinawa Development Finance Corporation is governed by six person board of directors. The board consists of Chairman, a Vice Chairman, three directors and an auditor.[1] The Chairman and auditor are appointed by the Prime Minister and Minister of Finance while the Vice Chairman and directors are appointed by the chairman but approved by the ministers.[1]
^ ab"The ODFC Profile". ODFC. Retrieved 14 November 2015.
^"The Okinawa Development Finance Corporation (ODFC)". Japan Business Connection. KIH Partners. Retrieved 14 November 2015.
^Cargill, Thomas F.; Yoshino, Naoyuki (2003). Postal Savings and Fiscal Investment in Japan: The PSS and the FILP. Oxford University Press. p. 47. ISBN9780199257348.
^Kakazu, Hiroshi (2012). Island Sustainability: Challenges and Opportunities for Okinawa and Other Pacific Islands in a Globalized World. Trafford Publishing. p. 108. ISBN9781466906457.
^"ODFC profile". ODFC. Retrieved 14 November 2015.
Company Overview of The Okinawa Development Finance Corporation
May 04, 2024
okinawa, development, finance, corporation, odfc, okinawa, shinkō, kaihatsu, kōko, 沖縄振興開発金融公庫, policy, based, financial, services, institution, odfc, headquarters, located, tokyo, japan, native, name沖縄振興開発金融公庫company, typestate, ownedfounded15, 1972, years, 19. Okinawa Development Finance Corporation ODFC Okinawa Shinkō Kaihatsu Kin yu Kōko 沖縄振興開発金融公庫 is a Policy based financial services institution ODFC s headquarters are located in Tokyo Japan 2 Okinawa Development Finance CorporationNative name沖縄振興開発金融公庫Company typeState ownedFounded15 May 1972 51 years ago 1972 05 15 1 HeadquartersTokyo JapanArea servedOkinawaNumber of employees211 2015 WebsiteHomepage Okinawa Development Finance Corporation of head office Contents 1 Overview 2 History 3 Jurisdiction 4 Governance 5 See also 6 References 7 External linksOverview editThe ODFC s key role is to promote the development of industries in Okinawa This is through the provision of long term loans and other financial facilities to small and medium sized entrepreneurs in the island that are in the agriculture housing forestry fishery and medical industries 3 The ODFC will also finance citizens who have met difficulties obtaining funding from private financial institutions Through such financial assistance the ODFC aims to vitalize the local economy of Okinawa and aid in the development of the local society 4 History editThe Okinawa Development Finance Corporation was established on May 15 1972 with the passing of the Okinawa Development Finance Corporation Law 3 This law was established along with Okinawa s return to Japan from American military occupation in order to carry out a unified and comprehensive policy oriented financing in Okinawa 5 The ODFC s objective was also to fill the socio economic gaps that existed between Okinawa and mainland Japan 6 The Law led to the consolidation of the following special public corporations into the then newly formed ODFC Masses Finance Corporation 大衆金融公庫 Founded in 1964 by the Ryukyu government to finance livelihood funds that target residents Ryukyu Development Finance Corporation 琉球開発金融公社 Founded in 1959 by the United States Civil Administration of the Ryukyu Islands to provide long term capital funds in Okinawa Various Ryukyu government special development accounts including Industrial development funds flexibility special account Agriculture Forestry and Fisheries funds flexibility special account Housing construction funds flexibility special account Carrier construction funds flexibility special account As of March 2015 update the ODFC has lent out 946 3 billion and 4 2 billion in loans and investments respectively 211 employees and 6 Offices 7 Jurisdiction editODFC is subject to the supervision of the Prime Minister and the Minister of Finance under the law Governance editThe Okinawa Development Finance Corporation is governed by six person board of directors The board consists of Chairman a Vice Chairman three directors and an auditor 1 The Chairman and auditor are appointed by the Prime Minister and Minister of Finance while the Vice Chairman and directors are appointed by the chairman but approved by the ministers 1 See also editList of banks in Japan Bank of Japan Development Bank of Japan Japan Finance CorporationReferences edit a b c Okinawa Development Finance Corporation Act 2022 ed 1972 Company Overview of The Okinawa Development Finance Corporation Bloomberg Businessweek Bloomberg L P Retrieved 13 November 2015 a b The ODFC Profile ODFC Retrieved 14 November 2015 The Okinawa Development Finance Corporation ODFC Japan Business Connection KIH Partners Retrieved 14 November 2015 Cargill Thomas F Yoshino Naoyuki 2003 Postal Savings and Fiscal Investment in Japan The PSS and the FILP Oxford University Press p 47 ISBN 9780199257348 Kakazu Hiroshi 2012 Island Sustainability Challenges and Opportunities for Okinawa and Other Pacific Islands in a Globalized World Trafford Publishing p 108 ISBN 9781466906457 ODFC profile ODFC Retrieved 14 November 2015 External links edit 1 Company Overview of The Okinawa Development Finance Corporation Retrieved from https en wikipedia org w index php title Okinawa Development Finance Corporation amp oldid 1171184468, wikipedia, wiki, book, books, library,
