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Capital For Social Impact

Unlocking private capital to invest in Japan’s social and environmental problem-solving through the development and implementations of Japanese social impact investment models.

SIIF aims to catalyze a new capital flow model that transcends existing boundaries between private, public, and civil sectors.
SIIF seeks to nurture a social impact investment ecosystem that will support Japan’s sustainable development, making it a global forerunner in shouldering social issues unique to developed economies.

Hub / Network

Establish and promote effective, performance based public-private partnerships such as Social Impact Bonds (SIB). To achieve this intended purpose, SIIF leads the development of Pay for Success projects and provides appropriate funding through investments, loans, and guarantees. In addition, the Foundation provides both financial and non-financial support to other intermediaries that work to develop effective public-private partnership schemes.

Fund

Increase the number of domestic social impact investors and total volume of distributed impact capital. To achieve this intended purpose, SIIF seeks to stimulate other fund providers by supplying its own risk capital through investments, loans, and guarantees. In addition, the Foundation contributes knowledge, experience, and human resources – both directly and indirectly – toward the development and structuring of key schemes aimed to increase supply of impact capital.

Think Tank

Advocate the establishment of policies that promote social impact by investing in collaboration with key partners and industry players. To achieve this intended purpose, SIIF produces influential thought leadership, engages in research, promotes knowledge sharing, and builds community consensus.

Organizational Structure

General Affairs Division

  • Sets basic policies, does business planning and budgeting related to SIIF’s operations, carries out the Board of Directors’ administrative, accounting and financial work.

Project Planning and Implementation Division

  • Implements social impact investment and creates models for it beginning with social impact bonds (SIBs), carries out research and makes policy recommendations.

Public Relations Division

  • Disseminates information on social impact investment to raise its public profile through website management and all kinds of publicity activities.
  • SIIF : Japan Social Impact Investment Foundation
  • The Nippon Zaidan Building 5F, 1-2-2 Akasaka, Minato-ku Tokyo 107-8404, Japan [ Google Map ]
  • TEL : +81-3-6229-2622 FAX : +81-3-6229-2621

Social Impact Investment Projects

Social impact investment is an investment made into companies, organizations, and funds with the intention to generate positive impact on social and environmental issues such as education, public health and welfare, alongside financial return. It is said to have a current global market scale of approximately 4 trillion yen. Social impact investment’s origins may date back to the movement to exclude investments in companies related to tobacco and alcohol in the 18th century, or alternatively, the socially responsible investing that began from the anti-Vietnam War movement of the 1970s. Since 2010, “social impact investment” has gained renewed attention in the context of a re-evaluation of financial capital following the global financial crisis.

There were two trends, first a shift among the financial industry’s institutional investors and major banking institutions toward financing which “emphasizes social value” such as ESG investment, and then a shift among private foundations, individual donors and social entrepreneurs toward “results-oriented philanthropy and the resolution of social issues,” the intersection of which is thought to be a major force in increasing the “movement of funds to make a better society.” Using the 2013 G8 Summit as an opening, an international task force was founded, beginning the promotion of social impact investment as a policy tool among financially challenged advanced nations.

In order to increase the number of social impact investment supporters in Japan and the volume of the fund flow, SIIF structures schemes to provide capital for funds and acts as a stimulator for other fund providers by supplying risk capital through investments, loans and guarantees.

Social Impact Bonds

A “Social Impact Bond” (SIB) is a public-private partnership social investment scheme in which socially-oriented projects are carried out through private funding and investors are reimbursed by the government after results are produced. The first SIB was created in the UK in 2010, and the over 60 SIBs in 16 countries around the world in 2016 are being utilized in various spheres including support for youth employment, orphanages, prevention of recidivism, and health care.

At the Japanese, national level, the cabinet decisions in the “Japan Revitalization Strategy” and “Basic Policy and Cities-People-Jobs” of 2016 and 2017 included statements that the government will consider utilizing SIBs, and on a local municipality level, cities such as Kobe and Hachioji launched the first SIBs in Japan in 2017.

About Social Impact Bonds

(A) Investor supplies project funds to service provider

The investor supplies project funds to the service provider so that the service provider can carry out their services.

(B) Service provider carries out services

The service provider utilizes their special skills and know-how to provide various services to the service recipient.

(C) Independent appraiser evaluates results

An independent review institution will evaluate the results of the services provided by the service provider based on previously-established outcome indices and measurement methods.

(D) Government reimburses investor with contingency fee only when outcome indicators are achieved

If the previously-established outcome indices are achieved, the government pays the investor the contingency fee with interest. If the outcome indices are not achieved, the government is not required to pay.

Investigation and Research, Awareness and Recommendations

A networking organization established through the G8 Summit held in the UK in 2013 Under the chairman, Sir Ronald Cohen of the UK, the Task Force shares global knowledge and fosters understanding through regular telephone conferences, a working group, and a plenary session held once per year. The Japan Impact Investment Task Force was launched in 2014 as a related organization and presents policy recommendations for the promotion of domestic social impact investment. SIIF takes part in the planning of projects and operations for the Task Force as a secretariat.

In Japan where a rapidly shrinking and aging population is developing at an unparalleled speed and the challenges facing society are becoming increasingly diversified and complex, there is a limit to what existing government-centered initiatives alone can deal with. The NPOs, NGOs and social businesses which have been supporting the resolution of social issues need to implement new, innovative practices to find answers for these problems by visualizing the “social impact” they are generating, attracting not only funding but also motivated, knowledgeable and technical skilled people.

The Social Impact Measurement Initiative was established as a platform to take the lead in implementing and measuring social impact measurement.. Through this initiative, multiple sectors such as private enterprises, think tanks, intermediary support organizations, funding providers, researchers, and the government are meant to be in cooperation, carrying out concrete actions to promote the “social impact measurement” of Japan as a whole, with SIIF taking part in planning for project implementation as a member of the secretariat.

A platform organization in the private sector to discuss the mechanisms which will make the Dormant Accounts Usage Bill enacted in December 2016 effective for resolving social issues. It conducts studies of optimal governance and the selection method for support recipients; makes recommendations to the government and government committees; and works to heighten the momentum toward setting up designated utilization organizations. SIIF takes part in planning for project implementation as a member of the secretariat.

Mitsuaki AOYAGI

Mitsuaki AOYAGI

CEO, SIIF

Joined the Nippon Foundation and involved in many support projects for NPOs. After the Great East Japan Earthquake, engaged in the disaster reconstruction support team as Chief Manager at the Foundation. Afterwards, involved in research and pilot model projects to spread impact investment in Japan. Current position since 2017.

Nanako KUDO

Nanako KUDO

Executive Director, SIIF

One of the founders of Japan Venture Philanthropy Fund, Japan’s first venture philanthropy fund. Led various social impact investment initiatives, such as Japan’s first Social Impact Bond pilot project. Engaged in G8 Social Impact Investment Taskforce as Executive. Current position since 2017.

Shuichi OHNO

Shuichi OHNO

Director, SIIF / President, The Sasakawa Peace Foundation

After working for a leading Japanese trading company, became the International Department Director at the Nippon Foundation. Executive Director at the Foundation since 2004. Involved as an advisory committee member on the G8 Social Impact Investment Taskforce. President at the Sasakawa Peace Foundation since December 2016.

Yumiko IGARASHI

Yumiko IGARASHI

Auditor, SIIF / Attorney at Law, Igarashi Law Office

Started her own law firm in 2013 after working for 5 years at Nishimura Asahi, a major law firm dealing with corporate legal affairs. With the previous experience of corporate legal affairs of financial institutions, she advises corporations engaged in education and public benefit activities, and public agencies.

Masayasu KITAGAWA

Masataka KITAGAWA

Professor Emeritus at Waseda University and advisor at the Waseda University Research Institute of Manifesto.

Graduate of Waseda University School of Commerce. A member of the Mie Prefectural Assembly and the House of Representatives, and former governor of Mie prefecture, he joined Waseda University’s Faculty of Political Science and Economics in 2003 and after retirement in 2015, is professor emeritus at Waseda University and advisor at the Waseda University Research Institute of Manifesto.

Tsutomu HORIUCHI

Tsutomu HORIUCHI

Visiting professor at Tama Graduate School of Business, former Chief Financial Officer of Mori Building.

Postgraduate degree from Harvard Law School. He joined the Mori Building company after working at the Industrial Bank of Japan (now Mizuho Bank), IBJ Securities and Goldman Sachs Japan. Served as President and CEO of Mori Building Investment Management and then CFO and Senior Executive Managing Officer of Mori Building.

Takeju OGATA

Takeju OGATA

President of the Nippon Foundation.

Graduate of the Tokyo University of Agriculture. Served as General Manager of the Sasakawa Peace Foundation and then the Japanese Shipbuilding Industry Foundation (JSIF). Current position as President of the Nippon Foundation since 2011, when JSIF changed its name along with its shift to a public interest organization.

Yuko KAWAMOTO

Yuko KAWAMOTO

Professor at Waseda University Graduate School of Business.

Graduate of the Social Psychology Faculty of the University of Tokyo. Postgraduate degree in Development Economics from Oxford University. She has worked in the past at the Bank of Tokyo, the Tokyo office of McKinsey & Company, and in Paris.

  • SIIF : Japan Social Impact Investment Foundation
  • The Nippon Zaidan Building 5F, 1-2-2 Akasaka, Minato-ku Tokyo 107-8404, Japan
  • TEL : +81-3-6229-2622 FAX : +81-3-6229-2621
  • MAIL : info@siif.or.jp