Archive 2008

Order to TCI to Discontinue Investment in J-Power based on FEFTA

May 13, 2008

Today, the Minister of Finance and the Minister of Economy, Trade and Industry have ordered The Children’s Investment Master Fund (TCI) to discontinue inward direct investment related to the further acquisition of shares of J-Power, based on the Foreign Exchange and Foreign Trade Act.

Materials related to this order are released as well.

On April 16, 2008, based on the provision set forth in Article 27, Paragraph 5 of the Foreign Exchange and Foreign Trade Act (FEFTA), the Minister of Finance and the Minister of Economy, Trade and Industry made the recommendation to The Children’s Investment Master Fund (TCI) to discontinue the inward direct investment of which prior notification was submitted on January 15, 2008. On April 25, 2008, TCI informed the ministers of a notice of its refusal to accept the recommendation.

TCI submitted an explanation dated May 8, 2008 to the Ministers pursuant to the Administrative Procedures Act (APA). After closely examining the content of the explanation, it is recognized that the government’s judgment remains unchanged.

Today, the Ministers have ordered TCI to discontinue the inward direct investment as stipulated in the notification based on the provision set forth in Article 27, Paragraph 10 of FEFTA. Materials related to this order are released as well.

Contact Points:

Mr.Hidekazu Takakura,
Trade and Economic Cooperation Bureau
TEL:03-3501-1511 (ex. 3151)
Mr. Sadanori Ito
Electricity and Gas Department, Agency for Natural Resource and Energy
TEL:03-3501-1511 (ex. 4731)

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