日本海事新聞ニュース Japan Maritime Daily Mar 01, 2024 (Fri)

Development Bank of Japan considers investing in debt funds

Yamaguchi of the DBJ giving a lecture (center)

　Development Bank of Japan (DBJ) and FPG AIM, a company specializing in ship and aircraft finance, c ・・・ 続きはログインして下さいnext %E3%80%80Development+Bank+of+Japan+%28%3Cb%3EDBJ%3C%2Fb%3E%29+and+FPG+AIM%2C+a+company+specializing+in+ship+and+aircraft+finance%2C+co-hosted+a+ship+finance+seminar+in+Tokyo+last+week.+Yuichiro+Yamaguchi%2C+Head+of+ship+finance+team+of+%3Cb%3EDBJ%3C%2Fb%3E%E2%80%99s+Corporate+Finance+Department+4%2C+gave+a+lecture.+Regarding+the+bank%E2%80%99s+ship+finance+strategy%2C+he+talked+about+the+outlook+for+the+future%2C+saying%2C+%E2%80%9CIn+addition+to+traditional+financing+for+large+corporations%2C+we+are+expanding+into+small+and+medium-sized+blue-chip+companies.+Our+preferences+are+the+middle-risk%2C+middle-return+fields%2C+and+we+would+like+to+consider+investing+in+%E2%80%98debt+funds%E2%80%99+%28funds+that+lend+money+through+loans+or+bonds%29.%E2%80%9D+%3Cbr%3E%E3%80%80A+total+of+more+than+80+people+from+about+30+companies+participated+in+person+and+online+in+the+seminar+held+on+February+22.+People+from+pension+fund+management+companies%2C+asset+management+companies%2C+Japanese+regional+banks%2C+insurance+companies%2C+leasing+companies%2C+and+trading+companies+gathered.+%3Cbr%3E%E3%80%80Regarding+%3Cb%3EDBJ%3C%2Fb%3E%E2%80%99s+ship+financing%2C+Yamaguchi+said%2C+%E2%80%9CCurrently%2C+we+only+lend+to+the+finest+large+companies.+We+provide+loans+to+a+select+number+of+highly+creditworthy+companies+among+the+top+10+companies+of+each+ship+type+through+corporate-based+credit.%E2%80%9D+%3Cbr%3E%E3%80%80However%2C+large+companies+account+for+only+a+few+percent+of+the+industry+as+a+whole%2C+and+intensifying+competition+among+financial+institutions+has+led+to+easing+of+loan+conditions+and+a+decline+in+profitability.+%3Cbr%3E%E3%80%80For+this+reason%2C+Yamaguchi+said%2C+%E2%80%9CIn+order+to+obtain+advanced+financial+knowledge+and+high+profits+for+differentiation%2C+it+is+necessary+to+expand+into+lending+to+small+and+medium-sized+blue-chip+companies+in+addition+to+large+companies.+We+can+maximize+the+social+impact+by+providing+funds+more+broadly%2C%E2%80%9D+expressing+his+intention+to+expand+the+targets.+%3Cbr%3E%E3%80%80On+top+of+that%2C+he+pointed+out+the+challenges+of+financing+for+medium-sized+companies%2C+saying%2C+%E2%80%9CThe+work+load+is+heavy+due+to+a+large+number+of+small-value+projects.+It+is+important+to+have+a+good+understanding+of+assets+and+their+reputation+and+build+relationships+of+trust.+Therefore%2C+it+is+essential+to+collaborate+with+experienced+partners+to+supplement+human+resources+and+industry+knowledge.%E2%80%9D+%3Cbr%3E%E3%80%80As+for+the+company%E2%80%99s+future+policy%2C+he+said%2C+%E2%80%9CWe+will+utilize+investment+funds+managed+by+experienced+partners%2C+outsource+operations%2C+and+absorb+knowledge.+Considering+the+state+of+the+shipping+cycle%2C+we+will+avoid+equity+investments+and+focus+on+debt+funds+when+investing.%E2%80%9D+%3Cbr%3E%E3%80%80A+debt+fund+is+an+investment+fund+that+lends+money+to+companies+through+loans+and+bonds.+%3Cbr%3E%E3%80%80The+majority+of+investment+funds+in+the+shipping+industry+are+equity+funds%2C+which+are+responsible+for+the+self-funded+portion+of+new+shipbuilding+orders.+However%2C+after+the+Global+Financial+Crisis%2C+Yamaguchi+says%2C+%E2%80%9CEquity+funds+slumped+because+they+were+unable+to+generate+returns+due+to+the+prolonged+recession+in+shipping.%E2%80%9D+%3Cbr%3E%E3%80%80FPG+AIM+consultant+Fintan+Smyth+said%2C+%E2%80%9CEquity+funds+are+high+risk+and+high+return.+Due+to+the+volatility%2C+we+do+not+recommend+investing+unless+you+have+courage.%E2%80%9D+%3Cbr%3E%E3%80%80On+the+other+hand%2C+regarding+the+stability+of+debt+funds%2C+Smyth+said%2C+%E2%80%9CAlthough+shipping+is+recognized+as+a+highly+volatile+market%2C+the+debt+recovery+rate+is+over+86%25%2C+higher+than+real+estate+and+on+par+with+aircraft.+This+is+because+assets+are+not+dependent+on+a+single+country%E2%80%99s+economy+and+are+bought+and+sold+on+a+global+market.%E2%80%9D+%3Cbr%3E%E3%80%80Yamaguchi+also+said%2C+%E2%80%9CEquity+funds+are+influenced+by+the+market+at+the+time+of+the+final+sale.+On+the+other+hand%2C+with+a+debt+fund%2C+even+if+the+lender+goes+bankrupt%2C+the+ship+will+continue+to+move%2C+and+the+money+will+come+in+based+on+the+charter+contract%2C%E2%80%9D+emphasizing+the+safety.+%3Cbr%3E%E3%80%80Darryl+Tan%2C+Chief+Risk+Officer+at+FPG+AIM+Capital%2C+said%2C+%E2%80%9CCompared+to+other+asset+classes%2C+ships+and+aircraft+have+high+recovery+rates%2C+low+haircut+rates+%28discounts+from+the+collateral+value+at+the+time+of+financing%29%2C+and+high+liquidity+in+the+second-hand+markets.+Therefore%2C+it+is+generally+recognized+as+highly+reliable+collateral.%E2%80%9D+%3Cbr%3E%3Cbr%3E%3Cbr%3E%3Cbr%3EDisclaimer%3A+The+English+translations+provided+through+this+service+are+the+result+of+translations+made+by+The+Japan+Maritime+Daily+or+automatically+and+mechanically+translated+by+The+Japan+Maritime+Daily+using+an+automated+translation+system+provided+by+a+third+party+after+certain+processing+of+the+Japanese+content+licensed+by+the+third+party.+In+terms+of+the+English+translation%2C+The+Japan+Maritime+Daily+and+MarineNet+Co.%2C+Ltd.+make+no+warranty+or+burden+of+any+kind%2C+express+or+implied%2C+including+its+accuracy%2C+reliability%2C+validity+or+fitness+for+a+particular+purpose.+MarineNet+Users+should+fully+understand+that+this+service+uses+an+automated+translation+system+that+automatically+and+mechanically+recognizes+and+analyzes+information+and+produces+results.+The+users+should+understand+the+above+conditions+before+using+this+service.%3Cbr%3E%3Cbr%3E%E5%85%8D%E8%B2%AC%E4%BA%8B%E9%A0%85%EF%BC%9A%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E4%BB%8B%E3%81%97%E3%81%A6%E6%8F%90%E4%BE%9B%E3%81%95%E3%82%8C%E3%82%8B%E8%8B%B1%E8%A8%B3%E3%81%AF%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%BD%9C%E6%88%90%E3%81%99%E3%82%8B%E3%81%8B%E3%80%81%E5%8F%88%E3%81%AF%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8B%E3%82%89%E4%BD%BF%E7%94%A8%E8%A8%B1%E8%AB%BE%E3%82%92%E5%8F%97%E3%81%91%E3%81%9F%E6%97%A5%E6%9C%AC%E8%AA%9E%E3%81%AE%E3%82%B3%E3%83%B3%E3%83%86%E3%83%B3%E3%83%84%E3%82%92%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%B8%80%E5%AE%9A%E3%81%AE%E5%87%A6%E7%90%86%E3%82%92%E8%A1%8C%E3%81%A3%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8C%E6%8F%90%E4%BE%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E5%88%A9%E7%94%A8%E3%81%97%E3%81%A6%E8%87%AA%E5%8B%95%E7%9A%84%E3%83%BB%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E7%BF%BB%E8%A8%B3%E3%81%97%E3%81%9F%E7%B5%90%E6%9E%9C%E3%81%A7%E3%81%82%E3%82%8A%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%80%81%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%81%AF%E3%80%81%E5%BD%93%E8%A9%B2%E8%8B%B1%E8%A8%B3%E3%81%AB%E9%96%A2%E3%81%97%E3%81%A6%E3%80%81%E3%81%9D%E3%81%AE%E6%AD%A3%E7%A2%BA%E6%80%A7%E3%80%81%E4%BF%A1%E9%A0%BC%E6%80%A7%E3%80%81%E5%A6%A5%E5%BD%93%E6%80%A7%E5%8F%8A%E3%81%B3%E7%89%B9%E5%AE%9A%E7%9B%AE%E7%9A%84%E3%81%B8%E3%81%AE%E9%81%A9%E5%90%88%E6%80%A7%E3%82%92%E5%90%AB%E3%82%81%E3%80%81%E6%98%8E%E7%A4%BA%E5%8F%88%E3%81%AF%E9%BB%99%E7%A4%BA%E3%81%AB%E3%82%82%E3%80%81%E3%81%84%E3%81%8B%E3%81%AA%E3%82%8B%E4%BF%9D%E8%A8%BC%E3%82%82%E3%81%97%E3%81%BE%E3%81%9B%E3%82%93%E3%80%82%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%83%A6%E3%83%BC%E3%82%B6%E3%83%BC%E3%81%AF%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%8C%E3%80%81%E8%87%AA%E5%8B%95%E7%9A%84%E3%81%8B%E3%81%A4%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E6%83%85%E5%A0%B1%E3%82%92%E8%AA%8D%E8%AD%98%E3%83%BB%E5%88%86%E6%9E%90%E3%81%97%E3%81%A6%E7%B5%90%E6%9E%9C%E3%82%92%E5%87%BA%E5%8A%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E4%BD%BF%E7%94%A8%E3%81%97%E3%81%9F%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%A7%E3%81%82%E3%82%8B%E3%81%93%E3%81%A8%E3%82%92%E5%8D%81%E5%88%86%E3%81%AB%E7%90%86%E8%A7%A3%E3%81%97%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E5%88%A9%E7%94%A8%E3%81%99%E3%82%8B%E3%82%82%E3%81%AE%E3%81%A8%E3%81%97%E3%81%BE%E3%81%99%E3%80%82%3Cbr%3E

政投銀、デットファンド投資 検討。都内で船舶金融セミナー、FPG AIMと共催

2024/03/01(金)

日本海事新聞 JMD

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