PRESENTATION material of JBIC
January 2017
Disclaimer
Disclaimer
The exchange rate used in this presentation is for your convenience only and may differ from the Japanese yen/U.S. dollar exchange rate,
Canadian dollar/U.S. dollar exchange rate, and Sterling Pound/U.S. dollar exchange rate in effect as of the date of this presentation.
JBIC has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before
you invest, you should read the prospectus in that registration statement and other documents JBIC has filed with the SEC for more
complete information about JBIC. You may get these documents free of charge by visiting EDGAR on the SEC Website at www.sec.gov.
Alternatively, JBIC, any underwriter or any dealer participating on the offering will arrange to send you the prospectus if you require it by
calling Barclays Capital Inc. toll free from the United States at 1-(888)-603-5847.
You can access JBIC’s most recent prospectus satisfying the requirements of Section 10 of the United States Securities Act of 1933, as
amended, at the following website:
http://www.sec.gov/Archives/edgar/data/1551322/000119312512290727/d363885dsb.htm
1
Highlights

Solid institutional relationship with the Japanese government
Financial institution wholly owned by the Japanese government, government authorization required for board
appointment/removal and amendment of the JBIC Act required for any major organizational changes.

Explicit government guarantee
Given an unconditional and irrevocable guarantee by the Japanese government, JBIC bonds offer the best proxy for
Japanese sovereign exposure in non-JPY.

Risk weight
Under the Standardized Approach, 0% in the US & Japan and up to 20% in the EU zone.

Track record of successful issuances and commitment to the market
JBIC has the most transparent USD curve among the Japanese SSA issuers and committed to provide regular
liquidity by tapping the market continuously in benchmark size.

Globally established investor relationships
JBIC has established and maintained its strong relationship with global institutional investors through continuous
issuances in the international market.
2
Table of Contents
1
JBIC Overview
2
JBIC Financial Aspects
3
JBIC in the Capital Markets
4
Japan Overview
3
Brief Profile
Brief Profile
Akira Kondoh / Governor, CEO
Name
Japan Bank for International Cooperation (JBIC)
Established
Apr 1, 2012
Governor
Akira Kondoh
Capital*
(100% Government-owned): JPY 1,391bil (USD 12.3bil)
Total Assets*
JPY 17,470bil (USD 155.0bil)
Net Assets*
JPY 2,492bil (USD 22.1bil)
Number of Employees
557 (As of JFY2016 budget)
Government-owned financial institution
Japan Bank for International Cooperation (JBIC) is a policy-based
financial institution wholly owned by the Japanese government.
Overseas Offices (16 offices)
Policy-based finance
Moscow
New York
Washington, D.C.
London
Paris
Beijing
Dubai
Mexico City
JBIC provides policy-based finance with a mission of contributing
to the sound development of Japan, the international economy and
society as a whole.
New Delhi
Hanoi
Bangkok●
 Manila
Singapore
Jakarta
Rio de Janeiro
Buenos Aires
* Figures as of September 30, 2016
※ JPY112.68/USD
4
Main Features
Full government ownership
 Under
the JBIC Act, the Government of Japan has an obligation to hold 100% capital stock of JBIC at all times.
Government involvement in board appointment/removal
 Any
resolution of appointment or removal of any board member of JBIC takes effect only after authorization by the
Minister of Finance of Japan has been granted.
No dissolution without further enactment
 Any
major organizational change of JBIC, such as dissolution, merger or partition, requires an amendment of the
JBIC Act.
Governmental supervision
 JBIC’s
annual budget requires an approval from the Diet; JBIC is subject to inspection by the Financial Services
Agency of Japan; the Minister of Finance has general authority to supervise JBIC.
5
Establishment of JBIC

Pursuant to the Japan Bank for International Cooperation Act (the JBIC Act), The Japan Finance Corporation (“JFC”) spun off its
International Wing on April 1, 2012. Effective the same date, Japan Bank for International Cooperation (JBIC), a new joint-stock
corporation wholly owned by the Government of Japan, was established.
Oct. 1999
Oct. 2008
April 1, 2012
Former JBIC
JFC
New JBIC
Dec. 1950
The Export-Import
Bank of Japan
（JEXIM）
Mar.1961
Overseas Economic
Cooperation Fund, Japan
（OECF）
JBIC
IFOs
OECOs
(International Wing)
National Life Finance
Corporation
Micro Business and
Individual Unit
Agriculture, Forestry
and Fisheries
Finance Corporation
Agriculture, Forestry, Fisheries
and Food Business Unit
Japan Finance
Corporation for Small
and Medium Enterprise
Small and Medium
Enterprise (SME) Unit
(Domestic Finance Units)
JICA
Succession from JFC

All assets and liabilities relating to the former JBIC operation, JFC, including bond obligations, have been assumed by JBIC.
6
Main Missions of JBIC
JBIC contributes to the sound development of Japan and the international economy and society by
providing various types of financial support to meet the objectives of particular projects.
(1) Promoting the overseas development and
securement of resources which are important for Japan

JBIC contributes to ensuring a stable supply of the resources
that are essential to the sound development of the Japanese
economy by supporting the efforts of Japanese companies to
acquire interests in and develop natural resources overseas,
and to import them to Japan
(2) Maintaining and improving the international
competitiveness of Japanese industries

JBIC provides support to maintain and raise the international
competitiveness of Japanese industries by utilizing a variety
of financing methods:

to support the export of machinery, equipment, marine
vessels and other infrastructure and the participation in
overseas infrastructure projects by Japanese companies;
and

to support overseas manufacturing and sales activities by
Japanese companies seeking growth in foreign markets,
including mid-tier enterprises and small and mediumsized enterprises (SMEs)
7
Main Missions of JBIC (Cont’d)
JBIC contributes to the sound development of Japan and the international economy and society by
providing various types of financial support to meet the objectives of particular projects.
(3) Promoting the overseas business
having the purpose of preserving the global environment,
such as preventing global warming


JBIC supports projects undertaken in foreign countries that
are having a favorable impact on the preservation of the
global environment, including construction of renewable
energy power plants such as wind power systems utilizing
advanced environmental technologies as well as installation
of energy-saving equipment.
In doing so, JBIC will utilize its loans, equity participations and
guarantees through the mobilization of private financing.
(4) Preventing disruptions to the international
financial order or taking appropriate measures
with respect to damages caused by such disruption

JBIC has worked in coordination with the Japanese government
to implement various measures during previous crises, such as
during the Asian currency crisis in 1997 - 1998 and the global
financial crisis since 2008.

Other measures to address financial turmoil includes the
funding of the Recapitalization Fund for banks in developing
countries together with IFC (International Finance Corporation)
in February 2009, and loan agreement with the Government of
the Republic of Indonesia for Contingent Facility of up to JPY
120 billion in July 2012.
Commitments （JPY hundred million）
45,000
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
Asian Currency Crisis
Export Loans
Untied Loans
Financial Crisis
Import Loans
Equity Participations
Overseas Investment Loans
8
Guarantee
JBIC Medium-Term Business Plan (JFY2015-2017)
JBIC will contribute to exploring and creating new business opportunities that will lead to the sustainable
growth of Japan, through supporting the strengthening of Japanese companies’ overseas business
deployment and resource acquisition, by exercising the financial intermediary functions unique to JBIC.
Business areas to focus on
Organizational capabilities to be demonstrated
1) Energy and Natural Resources

Financial Structuring for Business Implementation
2) Infrastructure

Realization of Projects Bankability
3) Manufacturing and other Industries

Providing Information and Policy Recommendations
4) Mid-tier Enterprises and SMEs

Mobilization of Private Sector Finance
5) Environment
Key action plans

Support Japanese companies’ (1) energy and natural resources business

Support promotion for diversification and advancement of Japanese companies’ overseas (2) infrastructure development

Support the improvement of (3) Japanese industries’ competitive advantage and growth opportunities in the world market

Support overseas business expansion of Japanese (4) mid-tier enterprises and SMEs

Active contribution to preserving the (5) global environment, including measures to mitigate climate change
9
Role of JBIC in the Japan Revitalization Strategy
The second stage of Abenomics aims to put Japan back onto a growth path to become a leading nation in
the world by promoting the following two as the two wheels of a cart:
1) Realization of Revolution in productivity
by investment in the future
2) Promotion of Local Abenomics
Encouraging corporate behavior
to improve “earning power”
i.
Further enhancement of growth-oriented corporate governance
ii.
Promotion of innovation and venture business
< Key policy measures >
iii.
International expansion to growing markets including Asia
Implementing “Partnership for Quality Infrastructure”

Strengthen the functions of JBIC, establish a new system for supplying risk
money, and implement proactive investments and loans for projects with
relatively high risk profiles

The role of JBIC is mentioned
directly in the “Japan Revitalization Strategy”
revised in June 2015.

The Act of the Partial Amendment of the Japan Bank for International
Cooperation Act was enacted on May 11, 2016. The Act is intended to
enhance JBIC’s functions to further support Japanese companies in
expanding their business in the field of overseas infrastructure projects.
Cooperate with the Asian Development Bank (ADB) and make “Quality
Infrastructure Investment” of 110 billion US dollars in the Asian region over
the next five years since 2015 (an approximate increase of 30% over
previous investment)
JBIC to play a vital role in Abenomics in supporting Japanese companies’ overseas infrastructure development
by supplying risk money and supporting projects proactively through enhanced cooperation and coordination
10
JBIC’s Loan Portfolio
Loans Outstanding*: USD 122.8 billion**
Financial Instruments**
Governmental
Import Loans, Loans, 0.3%
3.8%
Export Loans,
6.1%
Geographical Distribution**
International
Organizations,
etc.
0.3%
Equity
Participation,
1.4%
Untied Loans,
6.5%
Others
3.9%
Asia
16.6%
Latin America
and the
Caribbean
17.4%
Oceania
15.3%
North America
16.8%
Overseas
Investment
Loans, 81.9%
Europe
14.9%
Africa
2.3%
Middle East
12.5%
*
**
※
※
includes Equity Participation
Figures as of March 31, 2016
Assuming JPY112.68/USD
Due to rounding calculations, charts and tables may not add up to 100%
11
Table of Contents
1
JBIC Overview
2
JBIC Financial Aspects
3
JBIC in the Capital Markets
4
Japan Overview
12
Financial Highlights for JBIC
Balance Sheet
Statement of Operations
(USD million)
JFY2013
Total Assets (A)
Loans
Total Liabilities
Total Net Assets (B)
Capital
Retained Earnings
Net Assets Ratio (B) / (A)
JFY2014
JFY2015
(USD million)
JFY2016 1H*
145,066
163,861
156,023
155,041
112,313
128,088
120,169
116,876
124,288
142,024
134,081
132,920
20,778
21,836
21,941
22,121
12,070
12,345
12,345
12,345
8,088
8,813
8,627
9,025
14.32%
13.33%
14.06%
14.27%
JFY2013
Ordinary Income
JFY2014
JFY2015
JFY2016 1H*
2,007
2,283
2,130
1,392
Interest Income
1,608
1,713
1,897
1,007
Ordinary Expenses
1,196
1,214
1,751
805
1,027
1,030
1,099
646
Ordinary Profit
811
1,069
379
587
Net Income
811
1,120
380
588
Interest Expenses
* As of September 30, 2016
※ JFY: April 1- March 31
※ JPY112.68/USD
13
Level of Profit and Outstanding Balance
Outstanding Loans from JBIC
Outstanding Bonds issued by JBIC
(USD billion)
140
Ordinary Profit
Net Income
(USD million)
1,200
Outstanding Loans from JBIC (L)
128.09
Outstanding Bonds issued by JBIC (L)
120
Ordinary Profit (R)
1,120
1,069
120.17
116.88
112.31
1,000
Net Income (R)
93.67
100
811
80
77.84
74.34
71.98
522
60
800
507
588**
587 *
564
466
380
379
441
40
295
247
20
23.99
21.11
19.67
24.06
27.06
23.68
600
400
22.78
200
23.06
0
0
JFY
2009
* Ordinary Profit
** Net Income
※ JPY112.68/USD
2010
2011
2012
2013
2014
2015
2016 1H
14
Table of Contents
1
JBIC Overview
2
JBIC Financial Aspects
3
JBIC in the Capital Markets
4
Japan Overview
15
Characteristics of JBIC Bonds
Explicit government guarantee
 JBIC’s
foreign bonds benefit from explicit government guarantees. Such guarantees are provided unconditionally
and irrevocably.
 Based
on the JBIC Act, outstanding foreign bonds (including those issued by JFC, the predecessor of JBIC)
continue to enjoy the benefit of the explicit government guarantee.
 Issuer
and Guarantor Ratings*
Issuer (JBIC)
Moody’s
Standard & Poor’s
Long-term Rating
A1
A+
Outlook
stable
stable
Guarantor (Japan)
Moody’s
Standard & Poor’s
Long-term Rating
A1
A+
Outlook
stable
stable
 Risk
Weight: Under the Standardized Approach, 0% in the US & Japan and up to 20% in the EU zone.
“Japan Sovereign Exposure” in non-JPY currencies
 JBIC
foreign bonds provide an opportunity for “Japan Sovereign Exposure” in non-JPY currencies through
investment in JBIC foreign bonds.
*
As of September 17, 2015
16
Operational and Financial Plans
JBIC Operational Plan
JFY2015 Plan
(USD million)
%
JFY2016 Plan**
%
1,818
11%
2,462
9%
13,182
80%
22,955
84%
Untied Loans
636
4%
750
3%
Equity Participation
909
5%
1,000
4%
16,545
100%
27,167
100%
Export Loans
Import / Overseas Investment Loans
Total
Bonds explicitly governmentguaranteed in the international
markets, in USD and other
currencies
JBIC Funding Plan
(USD million)
JFY2015 Plan
JFY2016 Plan**
%
Borrowing from government (FILP) *
2,273
14%
4,725
17%
Government-guaranteed foreign bonds
4,545
27%
10,333
38%
182
1%
0
0%
-
-
1,183
4%
58%
10,925***
40%
100%
27,167
100%
Domestic bonds
Capital contribution from government
9,545***
Miscellaneous
Total
*
**
***
※
%
16,545
Fiscal Investment Loan Program
As amended responding to the 3rd supplementary budget approved on January 31, 2017
Includes borrowings from the foreign reserve account of the Japanese Government
USD conversion based on “official rate” for each budget (JFY2015: JPY110/USD, JFY2016: JPY120/USD) ※ Due to rounding calculations, tables may not add up to 100%
17
JBIC Bonds in the International Capital Markets
Flagship issuer representing Japanese sovereign credit in the international capital markets



Since 1983, JBIC and its predecessors have issued Japanese government-guaranteed bonds in the international markets: 91 bonds,
including 46 bonds by JEXIM.
Variety of experience: Issued in USD, EUR, CHF, GBP, CAD, THB and JPY.
Given the international nature of JBIC’s operational needs, JBIC will have a strong ongoing non-JPY currency funding demand in the
global markets, thus providing sufficient liquidity to JBIC’s bonds.
Allocation Distribution of USD global bonds since 2015
Issuance list since 2011
Launch
Date
2011.01.13
2011.05.11
2011.07.06
2012.01.31
2012.07.11
2013.03.12
2013.07.23
2013.07.23
2013.11.06
2013.11.06
2014.02.27
2014.05.22
2014.05.22
2015.02.03
2015.05.20
2015.05.20
2016.01.13
2016.04.12
2016.04.12
2016.07.13
2016.07.13
2016.10.27
2016.10.27
Type
Global-Dollar
Global-Dollar
Global-Dollar
Global-Dollar
Global-Dollar
Global-CAD
Global-Dollar
Global-Dollar
Global-Dollar
Global-Dollar
Global-GBP
Global-Dollar
Global-Dollar
Global-Dollar
Global-Dollar
Global-Dollar
Global-Dollar
Global-Dollar
Global-Dollar
Global-Dollar
Global-Dollar
Global-Dollar
Global-Dollar
Currency Amount
USD
USD
USD
USD
USD
CAD
USD
USD
USD
USD
GBP
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
1,500 mil
2,000 mil
2,000 mil
1,250 mil
2,000 mil
500 mil
2,500 mil
1,000 mil
2,000 mil
500 mil
425 mil
1,500 mil
1,000 mil
1,000 mil
1,000 mil
1,500 mil
1,000 mil
1,000 mil
1,500 mil
1,500 mil
1,500 mil
1,000 mil
1,800 mil
Term
Primary
Coupon
(yrs)
Spread
5
2.500%
MS+35bp
5
2.500%
MS+45bp
5
2.250%
MS+34bp
7
2.125%
MS+68bp
5
1.125%
MS+34bp
5
2.300%
CT+95bp
5
1.750%
MS+37bp
10
3.375%
MS+68bp
5
1.750%
MS+36bp
5 3mL+0.36%
6.75
2.625%
G+66bp
5
1.750%
MS+20bp
10
3.000%
MS+42bp
10
2.125%
MS+31bp
5
1.750%
MS+19bp
10
2.500%
MS+28bp
10
2.750%
MS+86bp
5
1.875%
MS+75bp
10
2.375%
MS+80bp
5
1.500%
MS+58bp
10
1.875%
MS+61bp
5
2.000%
MS+63bp
10
2.250%
MS+64bp
EMEA
Asia
Americas
AM
5yrs
2015.05
5yrs
2015.05
2016.04
2016.04
2016.07
2016.07
2016.10
2016.10
10yrs
10yrs
2015.02
2015.02
2015.05
2015.05
2016.01
2016.01
2016.04
2016.04
2016.07
2016.07
2016.10
2016.10
Bank
CB & OI
Ins & Pen & Others
18
※ Highlighted lines are bonds issued in JFY2016
Recent Issuances in the International Capital Markets
(USD million)
9,000
2yrs
8,000
3yrs
7,000
5yrs
6.75yrs
1,250
6,000
1,000
4,800
7yrs
5,000
612
10yrs
1,250
4,000
3,000
3,000
3,000
5,000
2,000
1,000
650
2,000
4,000
2,500
1,750
1,500
1,500
2007
2008
2,500
3,500
2,385
2,250
1,500
750
1,000
0
JFY 2005
2006
2009
2010
2011
2012
2013
2014
2015
2016*
* As of February 1, 2017
※ CAD0.77/USD, GBP1.44/USD
19
Table of Contents
1
JBIC Overview
2
JBIC Financial Aspects
3
JBIC in the Capital Markets
4
Japan Overview
20
“Abenomics”: Highlights of the Growth strategy
High level of business sentiment
Real GDP trends
(JPY billion)
525,000
520,000
30
Real GDP (Seasonally adjusted)
518,904
517,668
517,273516,582
515,361
517,325
522,963
521,242
10
0
-10
515,000
-20
-30
509,449
510,000
507,841
506,847
505,000
-40
-50
-60
0
500,000
-70
1-3
4-6
7-9
10-12
Business Conditions DI (Tankan)
(DI:%Pt)
20
1-3
4-6
2014
7-9
10-12
1-3
2015
4-6
Large firms manufauturing
Large firms non-manufauturing
SMEs manufauturing
SMEs non-manufauturing
3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12 3 6 9 12
7-9
2008
2016
09
10
11
12
13
14
15
Source: “National Accounts Statistics” from the cabinet office
Source: “National Short-Term Economics Survey of Enterprises in Japan” (“Tankan”) , Bank of Japan
Unemployment rate has decreased
Stock prices have increased
(%)
Unemployment rate (Seasonally Adjusted)
3.8
90%
3.7
80%
3.6
70%
3.5
60%
3.4
16
Stock price increase has been strong compared to major foreign markets
85%
(Dec. 2012-Jan. 2017)
52%
53%
NY Dow
German DAX
50%
3.3
40%
3.2
3.1
30%
3.0
20%
2.9
10%
1 2 3 4 5 6 7 8 9 101112 1 2 3 4 5 6 7 8 9 101112 1 2 3 4 5 6 7 8 9 101112
2014
15
Source: “Labor Force Survey” from the Ministry of Internal Affairs and Communications
16
0%
Nikkei Average
Source: Based on Quick, average of month
21
Contacts
Japan Bank for International Cooperation (JBIC)
Capital Markets and Funding Division, Treasury Department, Corporate Group
TEL :
+81-3-5218-3304
FAX :
+81-3-5218-3960
E-Mail : [email protected]
URL :
http://www.jbic.go.jp/en/
(JBIC)
For information regarding Investor Relations, also visit the following website; http://www.jbic.go.jp/en/ir/
refer to SEC EDGAR website (http://www.sec.gov/edgar.shtml)
for our latest Form 18-K Annual Report submitted September 06, 2016.
(SEC CIK Code : 0001551322, Japan Bank for International Cooperation)
Bloomberg Ticker : JBIC <CORP>
22