被災企業支援―連帯の金融を広げよう

2011/09/08
--The Asahi Shimbun, Sept. 7
EDITORIAL: Fresh approach to financing can help disaster-stricken areas.
被災企業支援―連帯の金融を広げよう

A fresh approach to financing is needed to rebuild areas that have seen their economic bases wiped out by the March 11 disaster.
　経済基盤を根こそぎ奪われた被災地域の再生へ、金融にも新たな発想が求められている。

The so-called double loan problem poses a major challenge to financial reconstruction. This is because the government has decided to establish an agency in each disaster-stricken prefecture that will buy up loans companies took out before the catastrophe.
　金融復興の焦点である二重ローン問題では、政府が旧債権の買い取り機関を被災各県に設けることになった。

But as we feared, a stalemate may set in over purchase prices.
　だが案の定、買い取り価格をめぐって袋小路に陥る懸念が出ている。

Creditor financial institutions would naturally want to sell off the loans at high prices to minimize anticipated losses, while purchasing agencies would make lower offers.
債権者の金融機関は高く売り、見込まれる損失を転嫁したい。逆に買い取り機関側は安く抑えたい、という構図だ。

This is hardly the time for such a stalemate.
　にらみ合いで時間を費やしている場合ではない。

A decision must be made by taking various factors into account, such the degree of contribution made by each financial institution to help disaster-affected businesses rebuild themselves.
被災企業の再建に向けた金融機関側の貢献度合いなどを加味して総合的に決断するほかない。

All parties concerned must remember that speedy recovery should be their shared goal.
関係者は復興を加速するという大局に立ってほしい。

The problem, though, is that even if such businesses can be sure of having their old debts taken care of, they still have to deal with a lack of capital.
　ただ、被災企業にとっては旧債務の処理にメドがついても、資本の欠乏という壁がある。

Cases abound in the disaster-stricken prefectures of businesses that remain in a fix because they have no collateral against which to borrow funds to purchase equipment.
借金して設備を買おうにも担保がない、といった八方ふさがりの話が被災地にはあふれている。

One solution lies in getting private citizens to make direct investments in such businesses.
　注目したいのは、被災企業と個人マネーを直接結ぶ取り組みだ。

A new flow of money from individuals who want to support the post-disaster reconstruction effort, even at their own risk, may result in a synergy with bank lending.
「損失も覚悟のうえで復興を支援する」という新たなお金の流れを作り、金融機関の融資との相乗効果を生み出したい。

In fact, programs are already in place for consumers to help pig farms and seafood processing factories by paying for their products in advance.
　すでに、商品の購入を先払いすることで養豚場や水産加工場の再建を助ける動きがある。

A growing number of people are signing up for similar deals where they become owners who run oyster farming businesses, for example.
カキ養殖などのオーナー制度も広がっている。

Tokyo-based Music Securities Inc., which is known for its music CD fund, is helping to raise money for disaster-affected businesses by establishing a fund for each business.
　被災企業ごとにファンドを設け、資金集めを支援しているのは、音楽ＣＤファンドで実績のあるミュージックセキュリティーズ（東京）だ。

Donations start at 10,000 yen, half of which is invested in the business of the donor's choice. The donor receives products from the business as a dividend.
１口１万円で、出資金と寄付金を５千円ずつ出してもらい、被災企業の自慢の製品などで配当する。

Discovering promising entrepreneurs who help promote local resources and matching them up with private investors around the nation for long-term "partnerships" should provide a strong motivation for businesses to recover from the disaster.
　被災地の資源を生かす魅力的な企業家を発掘し、全国の人々からの投資という形で息の長い連帯関係を結ぶ。これは事業者の復興への強い動機付けにもなる。

Such an arrangement can also help strengthen the operational base for disaster-affected businesses that are handicapped in distribution and financing.
販路や資金面でハンディを負う被災企業の基盤を強化する可能性も秘める。

We hope many individuals and groups, including nongovernmental organs, will work hard to discover promising businesses.
　ＮＰＯを含む多様な担い手が知恵を絞り、埋もれた企業を掘り起こしてほしい。

We would also like to see closer collaboration between those individuals/groups and existing financial institutions and administrative entities.
　既存の金融機関や行政との連携も深めたい。

Policy-wise, it should be well worth giving tax breaks and other incentives to such investors.
投資家への税制優遇など、政策面で後押しする価値は大きいはずだ。

In the meantime, investment scams passing for disaster relief drives are on the rise.
　一方、復興支援を語る投資詐欺が増えている。

This is outrageous, but it is also up to investors to be discerning.
実に腹立たしいが、投資する側は「本物」を見極める目を鍛えたい。

And here is a checklist in case of doubt.
Is the party soliciting your investment able to give you specific information about the disaster damage suffered by the business in question?
　被災の情報は具体的か。

Will you be given a chance to speak directly with a representative of the business in which you are investing, or pay that person a visit to see the situation for yourself?
投資先の事業者と対話したり、現地を訪ねたりして実態を把握する機会はあるか。

Are you fully apprised of your risks?
リスクの説明は十分か。

Do you feel you are being pressed to make a much larger investment than what you are comfortable with?
無理に大口の投資を勧めていないか――。

We hope a "finance system of empathy and partnership" will take root.
こうした点をしっかりチェックしつつ、共感と連帯の金融を広げたい。