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Business Reading Room
Glossary and Acronyms - from J to
K
A An
B C Con D E F G H I J
K L M N O P Q R S Sp T U VWXYZ
Japan Corporate Program
The Japan Corporate Program was initiated (by the U.S. Department of Commerce) to
help increase U.S. exports to Japan. The program was initiated in January 1991, following
selection of 20 companies to participate in a five-year pilot project to improve U.S.
knowledge of, and access to, the Japanese market. As part of the five-year commitment to
the program, the companies arrange four visits a year to Japan, including two by their
chief executives; publish their product literature in Japanese; participate in at least
one trade promotion event in Japan each year; and modify products to enhance consumer
acceptance and promote sales in Japan. Commerce supports the 20 firms with market data,
arranges introductory meetings with prospective Japanese buyers, and recommends market
development strategies.
Japan Development Bank
The Japan Development Bank was founded in 1951 to aid in developing and
diversifying the Japanese economy. The JDB is a non-profit organization owned entirely by
the Japanese Government. U.S. companies may participate in JDB funding activity under the
Bank's Loan Division in the International Department. The International Department
disburses loans to foreign companies under two primary loan programs: Promotion of Foreign
Direct Investment in Japan and Facilities for Import Products. The other loan programs of
JDB are also available to foreign-owned companies under the principle of equal treatment
of clients regardless of nationality.
Japan Export Information Center
The Japan Export Information Center (JEIC) provides information on doing business
in Japan, market entry alternatives, market information and research, product standards
and testing requirements, tariffs and non-tariff barriers. The Center maintains a
commercial library and participates in private- and government-sponsored seminars on doing
business in Japan. JEIC is operated by the International Trade Administration of the
Department of Commerce. (202-482-2425 and 202-482-4524; fax: 202-482-0469)
Japan External Trade Organization
Although legally under the aegis of the Ministry of International Trade and
Industry (MITI), JETRO administers the export programs of the Japanese Government
independently. MITI subsidizes about 60 percent of JETRO's total annual expenditures and,
technically, has final decision-making authority over JETRO management and programs.
Originally established to help Japanese firms export, JETRO also assists American
companies seeking to export to Japan and promotes Japanese direct investment in the United
States and U.S. direct investment in Japan.
Japan International Cooperation Agency
JICA administers the bilateral grant portion of Japan's Official Development
Assistance (ODA). JICA covers both: (a) grant aid cooperation (offered without the
obligation of repayment) and (b) technical cooperation (offering trainees, experts,
equipment, project-type technical cooperation, and development studies). The Agency was
established in August 1974; headquarters are in Tokyo, Japan. See: Export-Import Bank of
Japan Overseas Economic Cooperation Fund.
JCCT
The U.S.-China Joint Commission on Commerce and Trade.
"J" Curve and Real Exchange Rates
The current account may initially worsen before improving in response to real
depreciation in exchange rates, because it takes time for the growth of import volumes to
decline in response to higher import prices. This phenomenon is known as the "J-curve
effect," because the downward movement followed by an upward movement in the current
account resembles the letter "J."
JEXIM
Japan Export Import Bank.
Joint Committee for Investment and Trade
The JCIT, was established in October 1990 to demonstrate U.S. and Mexican
commitment to greater economic cooperation. The Committee identifies trade and investment
opportunities and coordinates trade promotion events.
Joint Technical Committee 1 (JTC1).
A technical committee set up jointly by ISO and IEC to oversee all
international standardization activities in the field of information technology.
Joint Venture
An international business collaboration between foreign interests
and private parties from the host country (or the host government in some cases) in which
two or more parties establish a new business enterprise to which each contributes, and in
which ownership and control are shared.
Populated or unpopulated joint ventures. A legally
independent entity joint venture is populated when it has its own management and staff
personnel, and is unpopulated or a "shell company" when partner companies loan
the temporary services of their own management and staff to share in the work of the
venture.
Juridiction.
Offshore Jurisdiction. Offshore Jurisdiction/Location is a
country, or special area within a country, in which the legislation applicable to the
formation, management and taxation of companies is geared towards international business
rather than the governance of domestic business within the country. Such countries are
competing for this international business and, as a result, the legislation and taxation
are often 'favourable' to companies incorporated in these countries.
Onshore Jurisdiction. This refers to a country in which the
legislation applicable to the formation, management and taxation of companies is geared
towards the regulation of the domestic economy and the control of companies trading and
investing within it. Such jurisdictions are, in general, less favourable to a company and
its owners than offshore jurisdictions, whose legislation and taxation is geared more to
attracting international business which does not have specific location requirements.
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