Tokyo, July 30 (Jiji Press)–A Japanese panel of experts set up by the industry ministry launched discussions on Wednesday on whether to scrap or consolidate Cool Japan Fund Inc., a struggling government-backed investment fund. The panel, which includes business and accounting experts, aims to reach a conclusion as early as this year. Scrapping or consolidating the fund would require a decision by its board and law revisions. The discussions came after the fund’s cumulative deficit reached 54 billion yen. “We take the deficit seriously,” said Hiroo Inoue, director-general for commerce and service industry policy at the ministry. The fund was launched in November 2013 to promote products and services based on Japanese culture overseas. END [Copyright The Jiji Press, Ltd.]
Panel Launches Review of Cool Japan Fund
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