Kouryu Kyoju

Main Menu

  • Home
  • Japan institute
  • Japanese foundation
  • Japan government
  • Japan company
  • Japanese currency

Kouryu Kyoju

Header Banner

Kouryu Kyoju

  • Home
  • Japan institute
  • Japanese foundation
  • Japan government
  • Japan company
  • Japanese currency
Japan government
Home›Japan government›Japanese government to help small businesses with $9.4 billion in funding

Japanese government to help small businesses with $9.4 billion in funding

By Jane R. Chase
April 30, 2020
0
0

The Japanese government will use a fund from the public and private sectors to financially support small and medium-sized businesses affected by the coronavirus pandemic, Japanese sources reported Thursday.

The plan is to funnel up to 1 trillion yen ($9.4 billion) to eligible companies through the fund starting in mid-May, with each getting around 100 million yen ($940,000).

The targets of the funding initiative are businesses that cannot currently survive on bank financing alone, but can be expected to recover once the virus threat subsides. One of the main criteria is that they employ at least 50 people and have sales of 1 billion yen ($9.4 million) or more per year. In addition, companies that were already in financial difficulty before the crisis will not be eligible.

Whether the Japanese film industry will benefit from this initiative remains to be seen. Art house cinemas, known locally as “mini-theaters”, which support Japan’s large independent film sector, are particularly at risk. A crowdfunding campaign launched by directors Koji Fukada and Ryusuke Hamaguchi broke the 200 million yen ($1.9 million) mark on April 28 and is on track to hit its 300 million yen goal ( $2.8 million) by the May 14 deadline. The money will go to 109 cinemas and 92 related organizations participating in the campaign.

The government’s Regional Economy Vitalization Corporation of Japan is expected to make capital injections. The REVIC fund has a surplus of 50 billion yen ($470 million) and will be able to raise up to $9.4 billion in government-backed funding.

optional screen reader

Learn more about:

Related posts:

  1. Japanese government supports optional four-day work weeks
  2. Experts divided as Japanese government backs four-day workweek
  3. Japanese government advisers warn birth rate drops at a faster pace this year
  4. New variant of coronavirus found in travelers from Brazil: Japanese government

Categories

  • Japan company
  • Japan government
  • Japan institute
  • Japanese currency
  • Japanese foundation

Recent Posts

  • Computational Toxicology Predictive Modeling Service Market Analysis by Trends, Size, Share, Company Overview, Growth and Forecast by 2031
  • ANA urges the Japanese government to remove international constraints
  • A Japanese company develops a bin that freezes garbage to prevent bad odors
  • Foundation Repair Services Market Outlook 2022 and Forecast to 2029
  • Japanese government not liable for damage to refugees from Fukushima nuclear disaster, high court rules say

Archives

  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • September 2019
  • June 2019
  • May 2019
  • April 2019
  • February 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • January 2018
  • May 2017
  • April 2017
  • February 2017
  • December 2016
  • September 2016
  • August 2016
  • April 2016
  • March 2016
  • February 2016
  • November 2015
  • August 2015
  • January 2015
  • April 2014
  • October 2012
  • April 2011
  • March 2011
  • November 2010
  • September 2009
  • Privacy Policy
  • Terms and Conditions