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NEWS: Japan's Ministry of Finance May Restructure Cool Japan Fund Due to Debt Issues




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SpiritualRemains



Joined: 13 Sep 2002
Posts: 73
PostPosted: Tue Jun 21, 2022 10:37 am Reply with quote
You may want to add a mention of AMC Networks acquiring Sentai to that paragraph.
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Cimarosa



Joined: 14 Apr 2020
Posts: 23
PostPosted: Tue Jun 21, 2022 12:27 pm Reply with quote
Good riddance
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Cutiebunny



Joined: 18 Apr 2010
Posts: 1678
PostPosted: Wed Jun 22, 2022 3:10 am Reply with quote
Quote:
As of the end of fiscal year 2021, Cool Japan Fund had a debt of 30.9 billion yen (about US$227.1 million).


Wondering how you'd allow a company to even get close to reaching this level of debt and still not pull the plug on it.
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samuelp
Industry Insider


Joined: 25 Nov 2007
Posts: 2188
Location: San Antonio, USA
PostPosted: Wed Jun 22, 2022 9:58 am Reply with quote
Cutiebunny wrote:
Quote:
As of the end of fiscal year 2021, Cool Japan Fund had a debt of 30.9 billion yen (about US$227.1 million).


Wondering how you'd allow a company to even get close to reaching this level of debt and still not pull the plug on it.

It's a public private partnership kind of company, that happens all the time.
It was designed to be funded by tax payer dollars mostly, especially in the beginning.
See, for example, the US post office which is $200 Billion in debt....
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TarsTarkas



Joined: 20 Dec 2007
Posts: 5448
Location: Virginia, United States
PostPosted: Wed Jun 22, 2022 10:19 am Reply with quote
Is it really just a Fund. I thought it was a pool of money that could be used by the Japanese government for 'Cool Japan' projects. Now, instead of a Fund, it sounds like an Organization that has government approved spending powers outside of the 'Cool Japan' fund. Otherwise it shouldn't have been able to spend more than what was in the Fund.
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enurtsol



Joined: 01 May 2007
Posts: 14479
PostPosted: Thu Jun 23, 2022 6:16 am Reply with quote
When has a government fund ever made money Laughing
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Aresef



Joined: 22 Jun 2005
Posts: 817
Location: MD
PostPosted: Thu Jun 23, 2022 9:57 am Reply with quote
Considering Sentai Holdings LLC has already been bought by AMC, I doubt this is going to cause Sentai any problems. Even if Cool Japan Fund still had money in Sentai, it's not the same arrangement as the one that led ADV to break up.

enurtsol wrote:
When has a government fund ever made money Laughing


Plenty of sovereign wealth/pension funds make lots of money.

Cool Japan Fund has other aims besides just making money. They have a soft power mandate from the Japanese government.
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samuelp
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Joined: 25 Nov 2007
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PostPosted: Thu Jun 23, 2022 10:21 am Reply with quote
TarsTarkas wrote:
Is it really just a Fund. I thought it was a pool of money that could be used by the Japanese government for 'Cool Japan' projects. Now, instead of a Fund, it sounds like an Organization that has government approved spending powers outside of the 'Cool Japan' fund. Otherwise it shouldn't have been able to spend more than what was in the Fund.

    Like most giant pots of money, they established a company to manage it.
    The company itself can take on debt, and that's what's happened here.
    They operate on presumption of continued funding for the program from the government, so that's their "income", plus any income they get from the companies they provide loans for, etc.... But clearly they haven't done a very good job managing the money.
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Picky33



Joined: 09 Jul 2021
Posts: 242
PostPosted: Thu Jun 23, 2022 8:13 pm Reply with quote
enurtsol wrote:
When has a government fund ever made money Laughing
The DEA likes to brag, they are the only department in the government that, makes more money then it spends.
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jdnation



Joined: 15 May 2007
Posts: 1626
PostPosted: Thu Jun 23, 2022 8:59 pm Reply with quote
That's not cool, Japan...
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