Japan International Cooperation Agency 18-K Annual report (foreign governments)

Exhibit 2

FINANCIAL STATEMENTS OF JAPAN INTERNATIONAL COOPERATION AGENCY (“JICA”)

AND REPORTS OF THE INDEPENDENT AUDITOR

Index to Financial Statements
General Account
Independent Auditor’s Report	F-2
Balance Sheet (as of March 31, 2019)	F-3
Statement of Income (April 1, 2018—March 31, 2019)	F-5
Statement of Cash Flows (April 1, 2018—March 31, 2019)	F-6
Statement of Administrative Service Operation Cost (April 1, 2018—March 31, 2019)	F-7
Basis of Presenting Financial Statements	F-8
Significant Accounting Policies	F-8
Notes to the financial statements	F-10
The Accompanying Supplementary Schedules	F-15
Finance and Investment Account
Independent Auditor’s Report	F-39
Balance Sheet (as of March 31, 2019)	F-40
Statement of Income (April 1, 2018—March 31, 2019)	F-42
Statement of Cash Flows (April 1, 2018—March 31, 2019)	F-43
Statement of Administrative Service Operation Cost (April 1, 2018—March 31, 2019)	F-44
Basis of Presenting Financial Statements	F-45
Significant Accounting Policies	F-45
Notes to the financial statements	F-49
The Accompanying Supplementary Schedules	F-57

F-1

Independent Auditor’s Report

Mr. Shinichi Kitaoka, President

Japan International Cooperation Agency

We have audited the accompanying financial statements of the general account of Japan International Cooperation Agency, which comprise the balance sheet as at March 31, 2019, and the statement of income, cash flows, and of administrative service operation cost for the year then ended, and a summary of significant accounting policies and other explanatory information, and the accompanying supplementary schedules (except for the information described based on the financial statements and business reports relating to the associated public interest corporations).

President’s Responsibility for the Financial Statements

President is responsible for the preparation and fair presentation of these financial statements in accordance with accounting standards for incorporated administrative agencies generally accepted in Japan, and for designing and operating such internal control as president determines is necessary to enable the preparation and fair presentation of the financial statements that are free from material misstatement, whether due to fraud or error, or illegal acts.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards for incorporated administrative agencies generally accepted in Japan. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. The audit was planned with adequate attention being paid to the possibility that any fraud or error, or illegal acts, of the president, other executive officers or staff members may result in material misstatement in the financial statements.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error, or illegal acts. The purpose of an audit of the financial statements is not to express an opinion on the effectiveness of the entity’s internal control, but in making these risk assessments the auditor considers internal controls relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by president, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. The basis includes the fact that no such fraud or error, or illegal acts, of the president, other executive officers or staff members that would result in material misstatement in the financial statements was found, to the extent that we conducted our audit. The audit we conducted is not intended to express an opinion on whether there was any fraud or error, or illegal acts, of the president, other executive officers or staff members, which would not result in material misstatement in the financial statements.

Opinion

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Japan International Cooperation Agency’s general account as at March 31, 2019, and financial performance, cash flows and administrative service operation cost for the year then ended in conformity with accounting standards for incorporated administrative agencies generally accepted in Japan.

/s/ Ernst & Young ShinNihon LLC

June 25, 2019

Tokyo, Japan

F-2

Balance Sheet

(as of March 31, 2019)

General Account

				(Unit: Yen)
Assets
I      Current assets
Cash and deposits		214,925,917,228
Inventories
Stored goods	361,279,192
Payments for uncompleted contracted programs	18,881,266	380,160,458
Advance payments		22,963,048,096
Prepaid expenses		106,249,058
Accrued income		383,559
Accounts receivable		3,345,851,645
Short-term loans for development projects	53,022,262
Allowance for loan losses	(8,800)	53,013,462
Short-term loans for emigration projects	360,693
Allowance for loan losses	(130,968)	229,725
Goods in transit		237,361,549
Suspense payments		67,108,898
Advance paid		1,652,935
Total current assets			242,080,976,613
II     Non-current assets
1     Tangible assets
Buildings	41,947,803,080
Accumulated depreciation	(19,297,587,688)	22,199,654,213
Accumulated impairment loss	(450,561,179)
Structures	1,622,053,021
Accumulated depreciation	(1,130,897,588)	480,625,846
Accumulated impairment loss	(10,529,587)
Machinery and equipment	204,909,253
Accumulated depreciation	(126,156,738)	78,752,515
Vehicles	2,290,915,814
Accumulated depreciation	(1,233,047,240)	1,057,868,574
Tools, furniture, and fixtures	2,295,153,199
Accumulated depreciation	(1,303,794,154)	991,359,045
Land	14,398,036,458
Accumulated impairment loss	(75,127,977)	14,322,908,481
Construction in progress		10,264,585
Total tangible assets		39,141,433,259
2     Intangible assets
Trademark rights		1,205,492
Telephone subscription rights		1,786,900
Software		171,620,886
Software in progress		3,148,155,022
Total intangible assets		3,322,768,300
3     Investments and other assets
Long-term loans for development projects	89,000,000
Allowance for loan losses	(4,400)	88,995,600
Long-term loans for emigration projects	16,619,771
Allowance for loan losses	(15,792,372)	827,399
Claims probable in bankruptcy, claims probable in rehabilitation, and other pertaining to loans for development projects	80,762,281
Allowance for loan losses	(80,762,281)	0
Claims probable in bankruptcy, claims probable in rehabilitation, and other pertaining to loans for emigration projects	326,179,513
Allowance for loan losses	(326,179,513)	0
Long-term prepaid expenses		17,966,610
Expected amount to be granted from the national budget		29,124,451
Long-term guarantee deposits		1,528,615,718
Total investment and other assets		1,665,529,778
Total non-current assets			44,129,731,337
Total assets					286,210,707,950

F-3

Balance Sheet (Continued)

(as of March 31, 2019)

			(Unit: Yen)
Liabilities
I     Current liabilities
Operational grant liabilities	31,300,123,012
Funds for grant aid	174,790,760,441
Donations received	397,957,663
Accounts payable	15,915,826,612
Accrued expenses	227,580,863
Lease obligations	111,099,457
Advance payments received	365,209,280
Deposits received	495,044,542
Unearned revenue	301,737
Total current liabilities		223,603,903,607
II     Non-current liabilities
Contra-accounts for assets	6,999,044,082
Long-term lease obligations	231,671,371
Long-term deposits received	119,231,972
Assets retirement obligations	276,125,850
Total non-current liabilities		7,626,073,275
Total liabilities				231,229,976,882
Net assets
I     Capital
Government investment	62,452,442,661
Total capital		62,452,442,661
II     Capital surplus
Capital surplus	(1,232,991,866)
Accumulated depreciation not included in expenses	(20,179,229,898)
Accumulated impairment loss not included in expenses	(537,303,803)
Accumulated interest expenses not included in expenses	(7,189,037)
Total capital surplus		(21,956,714,604)
III     Retained earnings
Reserve fund carried over from the previous Mid-term Objective period	7,013,416,150
Reserve fund	4,303,840,433
Unappropriated income for the current business year	3,167,746,428
[Total income for the current business year]	[3,167,746,428]
Total retained earnings		14,485,003,011
Total net assets				54,980,731,068
Total liabilities and net assets				286,210,707,950

F-4

Statement of Income

(April 1, 2018 – March 31, 2019)

General Account

	(Unit: Yen)
Ordinary expenses
Operating expenses
Expenses for priority sectors and regions		78,686,496,853
Expenses for private sector partnership		5,016,499,932
Expenses for domestic partnership		18,505,606,609
Expenses for other operations		3,383,858,349
Expenses for operation support		37,416,908,404
Expenses for grant aid		94,985,301,797
Expenses for facilities		29,124,451
Expenses for contracted programs		69,405,659
Expenses for donation projects		12,053,139
Depreciation		600,333,324	238,705,588,517
General administrative expenses			8,593,211,150
Financial expenses
Foreign exchange losses		243,188,779	243,188,779
Miscellaneous loss			1,299,884
Total ordinary expenses				247,543,288,330
Ordinary revenues
Revenues from operational grants			139,030,948,723
Revenues from grant aid			94,985,301,797
Revenues from contracted programs
Revenues from contracted programs from Japanese government and local governments		69,178,231
Revenues from contracted programs from other parties		1,540,816	70,719,047
Revenues from interest on development projects			319,810
Revenues from settlement projects			126,768
Revenues from emigration projects			1,413,823
Donations			12,053,139
Revenues from expected amount to be granted from the national budget			29,124,451
Reversal of allowance for loan losses			33,585,930
Reversal of contra-accounts for assets			530,087,432
Financial revenues
Interest income		5,870,215	5,870,215
Miscellaneous income			3,751,198,276
Total ordinary revenues				238,450,749,411
Ordinary loss				9,092,538,919
Extraordinary losses
Loss on disposal of non-current assets			30,907,760
Loss on sales of non-current assets			3,450,156	34,357,916
Extraordinary income
Reversal of contra-accounts for assets			59,511,111
Gain on sales of non-current assets			8,257,098	67,768,209
Net loss				9,059,128,626
Reversal of reserve fund carried over from the previous Mid-term Objective period				12,226,875,054
Total income for the current business year				3,167,746,428

F-5

Statement of Cash Flows

(April 1, 2018 – March 31, 2019)

General Account

	(Unit: Yen)
I.     Cash flows from operating activities
Payments of operating expenses		(130,350,635,841)
Payments for grant aid		(95,354,945,397)
Payments for contracted programs		(88,822,702)
Payments of personnel expenses		(17,220,649,055)
Payments for other operations		(202,153,930)
Proceeds from operational grants		152,364,330,000
Proceeds from grant aid		105,714,130,813
Proceeds from contracted programs		437,493,677
Proceeds from interest on loans		1,769,293
Proceeds from settlement projects		388,130
Interest revenues		126,768
Installments receivable		261,362
Proceeds from donations		21,148,856
Proceeds from other operations		4,235,081,596
Subtotal		19,557,135,440
Interest income received		5,778,309
Payments to national treasury		(96,950,325)
Net cash provided by operating activities		19,465,963,424
II.   Cash flows from investing activities
Payments for purchase of non-current assets		(2,748,109,347)
Proceeds from sales of non-current assets		15,471,108
Proceeds from subsidy for facilities		158,891,747
Proceeds from collection of loans		96,581,635
Payments into time deposits		(60,300,000,000)
Proceeds from time deposit refund		60,300,000,000
Net cash used in investing activities		(2,477,164,857)
III.  Cash flows from financing activities
Repayments of lease obligations		(145,415,870)
Net cash used in financing activities		(145,415,870)
IV.   Effect of exchange rate changes on funds		(127,663,775)
V.    Net increase (decrease) in funds		16,715,718,922
VI.   Funds at the beginning of the business year		191,910,198,306
VII. Funds at the end of the business year		208,625,917,228

F-6

Statement of Administrative Service Operation Cost

(April 1, 2018 – March 31, 2019)

General Account

				(Unit: Yen)
I	Operating expenses
	(1) Expenses in the statement of income
	Operating expenses	238,705,588,517
	General administrative expenses	8,593,211,150
	Financial expenses	243,188,779
	Miscellaneous loss	1,299,884
	Loss on disposal of non-current assets	30,907,760
	Loss on sales of non-current assets	3,450,156	247,577,646,246
	(2) (Deduction) Self-revenues, etc.
	Revenues from contracted programs	(70,719,047)
	Revenues from interest on development projects	(319,810)
	Revenues from settlement projects	(126,768)
	Revenues from emigration projects	(1,413,823)
	Donations	(12,053,139)
	Reversal of allowance for loan losses	(33,585,930)
	Financial revenues	(5,870,215)
	Miscellaneous income	(3,751,198,276)
	Gain on sales of non-current assets	(8,257,098)	(3,883,544,106)
	Total operating expenses				243,694,102,140
II	Depreciation not included in expenses				1,186,842,530
III	Impairment loss not included in expenses				527,101,964
IV	Disposal and sale differential not included in expenses				66,903,045
V	Estimated bonus payments not included in provision				19,331,720
VI	Estimated increase in retirement benefits not included in provision				(924,518,783)
VII	Opportunity cost
	Opportunity cost of government investment				0
VIII	Administrative service operation cost				244,569,762,616

F-7

Basis of Presenting Financial Statements

The accompanying financial statements of JICA have been prepared in accordance with accounting principles for incorporated administrative agencies generally accepted in Japan, which are different in many respects as to application and disclosure requirements of accounting principles for business enterprises generally accepted in Japan.

Significant Accounting Policies

General Account

1. Revenue recognition method of operational grants

Revenue from operational grants is recognized based on the level of operational achievement.

The revenue recognition method based on term is applied for administrative operations except the operations which have been specified as having a direct correlation between the operational achievement and operational grants.

The revenue from disaster relief operations, which are relief operations for unexpected disasters during the period, is recognized as the related expenses are incurred, since it is difficult to estimate the budget and terms, and specify a correlation between the operational achievement and operational grants.

2. Depreciation method

(1) Tangible assets (except for lease assets)

Straight-line method

The useful lives of major assets are as follows:

Buildings:	1–50 years
Structures:	1–42 years
Machinery and equipment:	1–17 years
Vehicles:	2–6 years
Tools, furniture, and fixtures:	1–15 years

The estimated depreciation costs for specific depreciable assets (Accounting Standard for Incorporated Administrative Agency No. 87) and specific removal costs, etc., associated with asset retirement obligations (Accounting Standard for Incorporated Administrative Agency No. 91) are indirectly deducted from capital surplus and reported as accumulated depreciation not included in expenses.

(2) Intangible assets (except for lease assets)

Straight-line method

Software used by JICA is depreciated over its useful life (5 years).

(3) Lease assets

Lease assets are depreciated by the straight-line method over the lease term. Depreciation for lease assets is calculated with zero residual value being assigned to the asset.

F-8

3. Provision for bonuses

A provision for bonuses is not accrued since the financial source is secured by operational grants.

The estimated bonus payments not included in the provision in the statement of administrative service operation cost is reported as a current business year estimate of the provision for bonuses, calculated according to the Accounting Standard for Incorporated Administrative Agency No. 88.

4. Provision for retirement benefits

A provision for retirement benefits is not accrued for retirement benefits since the financial source is secured by operational grants.

A provision for retirement benefits is not provided for pension benefits from the defined benefit corporate pension plan since the financial source for defined benefit corporate pension plan insurance fees and reserve shortfall is secured by operational grants.

The estimated increase in retirement benefits not included in the provision in the statement of administrative service operation cost is reported as the current business year increase in the provision for retirement benefits regarding retirement benefits and employees’ pension fund, calculated according to the Accounting Standard for Incorporated Administrative Agency No. 38.

5. Basis and standard for the accrual of allowance and loss contingencies

Allowance for loan losses

To provide for loan losses, JICA records the estimated amount of default as an allowance, taking into account the transition rate to delinquent loans for the ordinary loans. For doubtful loans, collectability is individually taken into consideration and the estimated amount of default is recorded as an allowance.

6. Standard and method for the valuation of inventories

Stored goods

Stored goods valuation is based on the lower of cost or market using the first-in, first-out (FIFO) method.

7. Translation standard for foreign currency-denominated assets and liabilities into yen

Foreign currency monetary claims and liabilities are translated into Japanese yen at the spot exchange rate at the balance sheet date. Exchange differences are recognized as profit or loss.

8. Standard for expected amount to be granted from the national budget

For the expenses related to facilities for which JICA receives a subsidy, the expected amount to be granted from the national budget in the upcoming business years is reported as asset and revenue according to Accounting Standard for Incorporated Administrative Agency No. 84.

9. Method for computing opportunity cost in the statement of administrative service operation cost

Interest rate used to compute opportunity cost concerning government investment:

0% is applied in accordance with the administrative circular, “Method for Calculation of Opportunity Cost for Statement of Administrative Service Operation Cost and Others (Points to Consider)” issued by Administrative Management Bureau, Ministry of Internal Affairs and Communications, and Public Accounting Office, Legal Division, Budget Bureau, Japanese Ministry of Finance, on April 5, 2019.

10. Accounting treatment for consumption taxes

Consumption taxes and local consumption taxes are included in transaction amounts.

F-9

Notes to the financial statements

General Account

(Balance Sheet)

1. Estimated retirement benefits to be provided from the operational grants

¥14,867,609,708

2. Estimated bonus to be provided from the operational grants

  ¥1,149,179,910

3. Impairment loss on non-current assets

(1) Non-current assets on which impairment loss was recognized

[1] Outline of usage, type, location, book value, etc. of non-current assets for which impairment loss was recognized

Impairment loss was recognized for the following asset:

(Unit: Yen)

Name of asset	Usage	Location		Type	Book value before impairment loss		Impairment loss during the period		Accumulated impairment loss at the end of the period
Soubudai employee housing	Employee housing		Zama city, Kanagawa prefecture	Building		450,561,179		450,561,179		450,561,179
				Structure		10,529,587		10,529,587		10,529,587
				Land		220,101,000		66,417,338		66,417,338

[2] Background relating to the recognition of impairment loss

For Soubudai employee housing, JICA decided to dispose of this function in March 2019. All of the occupants left the units by the end of the business year 2018. Hence, the carrying value of the Soubudai employee housing was reduced to the recoverable service amount in the current business year. This reduction is recorded as accumulated impairment loss not included in expenses and is deducted from capital surplus, and as a reduction of contra-accounts for assets funded by operational grants.

F-10

[3] Breakdown of impairment loss not recorded in the statement of income and impairment loss recorded in the statement of income by each major non-current asset, and overview of the calculation method of recoverable service amount:

(Unit: Yen)

Name of asset	Type	Impairment loss (Not recognized in the statement of income)		Impairment loss (Recognized in the statement of income)		Calculation method of recoverable service amount
Soubudai employee housing	Building		450,561,179		—	(Note 1)
	Structure		10,529,587		—	(Note 1)
	Land		66,417,338		—	(Note 2)

(Note 1) As the calculation of the value in use of the non-current asset cannot be calculated, the recoverable service amount is calculated by multiplying the carrying value of the non-current asset by the ratio of the asset considered to be used.

(Note 2) Recoverable service value is measured by the value in use, which is calculated based on the fixed property tax assessment value issued by Zama-city, Kanagawa prefecture.

(2) Non-current assets indicating impairment loss

Not applicable

4. Donated funds for grant aid

Grant aid is received in the form of donated funds from the government of Japan. JICA administers this grant aid based on grant agreements with the government of the recipient country. At the end of business year 2018, the outstanding balance of unexecuted grant agreements stood at ¥290,993,734,976.

(Statement of Cash Flows)

The funds shown in the statement of cash flows consist of cash, deposit accounts, and checking accounts.

1. Breakdown of balance sheet items and ending balance of funds

(as of March 31, 2019)

Cash and deposits	¥214,925,917,228
Time deposits	¥(6,300,000,000)
Ending balance of funds	¥208,625,917,228

2. Description of significant non-cash transactions

Assets acquired under finance leases
Tools, furniture, and fixtures	¥320,998,309

(Statement of Administrative Service Operation Cost)

Number of public officers temporarily transferred to JICA and accounted for as opportunity cost

Of the estimated increase in retirement benefits not included in the provision, ¥19,267,582 was recognized as the current-business-year increase in provision for retirement benefits for 32 public officers temporarily transferred to JICA according to JICA’s internal rules.

F-11

(Financial Instruments)

1. Status of financial instruments

The General Account’s fund management is limited to short-term deposits and public and corporate bonds while fund-raising consists mainly of operational grants approved by the competent minister. The General Account does not borrow from the government fund for Fiscal Investment and Loan Program (FILP), nor does it borrow funds from financial institutions or issue FILP Agency Bonds.

2. Fair value of financial instruments

Balance sheet amount, fair value, and difference at the balance sheet date are as follows:

			(Unit: Yen)
	Balance sheet amount	Fair value	Difference
(1) Cash and deposits	214,925,917,228	214,925,917,228	0
(2) Accounts payable	(15,915,826,612)	(15,915,826,612)	0

*Liabilities are shown in parentheses (    ).

(Note) Calculation method for fair value of financial instruments and matters concerning accounts payable

[1] Cash and deposits

Cash and deposits are valued at book value because fair value approximates book value since these items are settled in a short period of time.

[2] Accounts payable

Accounts payable are valued at book value because fair value approximates book value since these items are settled in a short period of time.

(Retirement benefits)

1. Overview of retirement benefit plans

To provide retirement benefits for employees, JICA has a defined benefit pension plan comprised of a defined benefit corporate pension plan and a lump-sum severance indemnity plan, and a defined contribution plan comprised of a defined contribution pension plan.

2. Defined benefit pension plan

(1) The changes in the retirement benefit obligation are as follows:

	(Unit: Yen)
Retirement benefit obligation at the beginning of the business year		24,076,155,903
Current service cost		985,189,246
Interest cost		123,845,936
Actuarial differences		(178,526,813	)
Retirement benefit paid		(1,290,375,499	)
Past service cost		(617,452,345	)
Contribution by employees		59,825,992
Retirement benefit obligation at the end of the business year		23,158,662,420

(2) The changes in the plan assets are as follows:

	(Unit: Yen)
Plan assets at the beginning of the business year		8,264,759,830
Expected return on plan assets		163,202,852
Actuarial differences		(282,565,294	)
Contribution by the company		402,513,515
Retirement benefit paid		(316,684,183	)
Contribution by employees		59,825,992
Plan assets at the end of the business year		8,291,052,712

F-12

(3) Reconciliation of the projected benefit obligations and plan assets and provision for retirement benefits and prepaid pension expenses in the balance sheets

	(Unit: Yen)
Funded retirement benefit obligation		10,165,488,786
Plan assets		(8,291,052,712	)
Unfunded benefit obligations of funded pension plan		1,874,436,074
Unfunded benefit obligations of unfunded pension plan		12,993,173,634
Subtotal		14,867,609,708
Unrecognized actuarial differences		0
Unrecognized past service cost		0
Net amount of assets and liabilities in the balance sheets		0
Provision for retirement benefits		0
Prepaid pension expenses		0
Net amount of assets and liabilities in the balance sheets		0

(Note) A provision for retirement benefits is not accrued for the difference between retirement benefit obligations and plan assets and net amount of assets and liabilities in the balance sheet, ¥14,867,609,708, since the financial source is secured by operational grants.

(4) Components of retirement benefit expenses

	(Unit: Yen)
Current service cost		985,189,246
Interest cost		123,845,936
Expected return on plan assets		(163,202,852	)
Realized actuarial differences		104,038,481
Amortization of past service cost		(617,452,345	)
Extraordinary additional retirement payments		0
Total		432,418,466

(5) Major components of plan assets

Percentages of components to the total are as follows:

Bonds	37	%
Stocks	35	%
General account of life insurance company	19	%
Others	9	%
Total	100	%

(6) Method of determining the long-term expected rate of return on plan assets

The long-term expected rate of return on plan assets is determined based on components of plan assets, the actual historical returns, and market condition, etc.

(7) Assumptions used

Principal assumptions used in actuarial calculations at the end of the business year

Discount rate	Defined benefit corporate pension plan	0.23	%
	Retirement benefits	0.74	%
Long-term expected rate of return on plan assets		2.00	%

3. Defined contribution plan

The amount of contribution required to be made to the defined contribution plan is ¥45,289,271.

F-13

(Lease transactions)

1. Future minimum lease payments related to operating lease transactions

Future minimum lease payments due within one year of the balance sheet date	¥	53,831,140
Future minimum lease payments corresponding to periods more than one year from the balance sheet date	¥	52,330,662

2. The impact of the finance lease transactions on the current business year’s profits and losses was ¥3,736,351. Total income for the current business year after the deduction of this amount was ¥3,171,482,779.

(Asset retirement obligations)

JICA has a building lease agreement for its head office building, and has obligations to restore the building to its original state at the termination of the lease period. Therefore, these asset retirement obligations have been recorded. The estimate for the asset retirement obligations assumes a five-year lease period for the projected period of use and a discount rate of 0.529%.

The balance of the asset retirement obligations at the end of the current business year was ¥276,125,850.

(Significant contractual liabilities)

Contractual liabilities JICA is obligated to pay during the next business year and thereafter are ¥3,534,874,198.

(Significant subsequent events)

Appropriation of profit was approved as follows on July 5, 2019:

		(Unit: Yen)
I.   Unappropriated income for the current business year			3,167,746,428
Total income for the current business year	3,167,746,428
II. Profit appropriation amount
Reserve fund	3,167,746,428		3,167,746,428

F-14

The Accompanying Supplementary Schedules

General Account

(1) Details of acquisition and disposal of noncurrent assets, depreciation (including depreciation not included in expenses, in accordance with “No. 87, Accounting for the Depreciation of Specific Depreciable Assets” and “No. 91, Accounting for Specific Removal Costs, etc., associated with Asset Retirement Obligations”), and accumulated impairment loss

																				(Unit: Yen)
Type		Balance at the beginning of the period		Increase during the period		Decrease during the period		Balance at the end of the period		Accumulated depreciation				Accumulated impairment loss				Net assets at the end of the period		Remarks
												Depreciation during the period				Impairment loss   during the period
Tangible assets (Depreciation included in expenses)	Buildings		2,125,541,797		106,944,737		32,394,886		2,200,091,648		579,946,231		130,938,800		50,400		50,400		1,620,095,017
	Structures		182,749,207		7,309,574		0		190,058,781		63,093,085		14,429,756		355,740		355,740		126,609,956
	Machinery and equipment		138,545,092		11,793,156		6,293,319		144,044,929		74,050,289		12,527,122		0		0		69,994,640
	Vehicles		1,958,179,050		177,528,004		133,600,294		2,002,106,760		1,197,816,901		157,801,106		0		0		804,289,859
	Tools, furniture, and fixtures		1,503,920,253		399,364,939		81,336,975		1,821,948,217		1,034,524,087		239,201,841		0		0		787,424,130
	Total		5,908,935,399		702,940,410		253,625,474		6,358,250,335		2,949,430,593		554,898,625		406,140		406,140		3,408,413,602
Tangible assets (Depreciation not included in expenses)	Buildings		39,771,140,247		193,244,309		216,673,124		39,747,711,432		18,717,641,457		1,135,928,774		450,510,779		450,510,779		20,579,559,196
	Structures		1,431,994,240		0		0		1,431,994,240		1,067,804,503		32,415,151		10,173,847		10,173,847		354,015,890
	Machinery and equipment		70,168,262		0		9,303,938		60,864,324		52,106,449		1,011,124		0		0		8,757,875
	Vehicles		54,902,911		268,968,386		35,062,243		288,809,054		35,230,339		17,373,738		0		0		253,578,715
	Tools, furniture, and fixtures		481,985,544		0		8,780,562		473,204,982		269,270,067		113,743		0		0		203,934,915
	Total		41,810,191,204		462,212,695		269,819,867		42,002,584,032		20,142,052,815		1,186,842,530		460,684,626		460,684,626		21,399,846,591
Tangible assets (Non-depreciable assets)	Land		14,398,036,458		0		0		14,398,036,458		0		0		75,127,977		66,417,338		14,322,908,481
	Construction in progress		175,165		36,767,080		26,677,660		10,264,585		0		0		0		0		10,264,585
	Total		14,398,211,623		36,767,080		26,677,660		14,408,301,043		0		0		75,127,977		66,417,338		14,333,173,066
Total tangible assets	Buildings		41,896,682,044		300,189,046		249,068,010		41,947,803,080		19,297,587,688		1,266,867,574		450,561,179		450,561,179		22,199,654,213
	Structures		1,614,743,447		7,309,574		0		1,622,053,021		1,130,897,588		46,844,907		10,529,587		10,529,587		480,625,846
	Machinery and equipment		208,713,354		11,793,156		15,597,257		204,909,253		126,156,738		13,538,246		0		0		78,752,515
	Vehicles		2,013,081,961		446,496,390		168,662,537		2,290,915,814		1,233,047,240		175,174,844		0		0		1,057,868,574
	Tools, furniture, and fixtures		1,985,905,797		399,364,939		90,117,537		2,295,153,199		1,303,794,154		239,315,584		0		0		991,359,045
	Land		14,398,036,458		0		0		14,398,036,458		0		0		75,127,977		66,417,338		14,322,908,481
	Construction in progress		175,165		36,767,080		26,677,660		10,264,585		0		0		0		0		10,264,585
	Total		62,117,338,226		1,201,920,185		550,123,001		62,769,135,410		23,091,483,408		1,741,741,155		536,218,743		527,508,104		39,141,433,259

F-15

																								(Unit: Yen)
Type		Balance at the beginning of the period			Increase during the period		Decrease during the period			Balance at the end of the period			Accumulated depreciation				Accumulated impairment loss				Net assets at the end of the period			Remarks
															Depreciation during the period				Impairment loss   during the period
Intangible assets (Depreciation included in expenses)	Trademark rights		7,444,573			0		0			7,444,573			6,239,081		306,293		0		0		1,205,492
	Software		204,530,548			54,126,172		0			258,656,720			87,035,834		45,128,406		0		0		171,620,886
	Total		211,975,121			54,126,172		0			266,101,293			93,274,915		45,434,699		0		0		172,826,378
Intangible assets (Depreciation not included in expenses)	Trademark rights		1,139,550			0		0			1,139,550			1,139,550		0		0		0		0
	Total		1,139,550			0		0			1,139,550			1,139,550		0		0		0		0
Intangible assets (Non-depreciable assets)	Telephone subscription rights		3,278,100			0		0			3,278,100			0		0		1,491,200		0		1,786,900
	Software in progress		1,569,841,335			1,585,221,367		6,907,680			3,148,155,022			0		0		0		0		3,148,155,022
	Total		1,573,119,435			1,585,221,367		6,907,680			3,151,433,122			0		0		1,491,200		0		3,149,941,922
Total intangible assets	Trademark rights		8,584,123			0		0			8,584,123			7,378,631		306,293		0		0		1,205,492
	Telephone subscription rights		3,278,100			0		0			3,278,100			0		0		1,491,200		0		1,786,900
	Software		204,530,548			54,126,172		0			258,656,720			87,035,834		45,128,406		0		0		171,620,886
	Software in progress		1,569,841,335			1,585,221,367		6,907,680			3,148,155,022			0		0		0		0		3,148,155,022
	Total		1,786,234,106			1,639,347,539		6,907,680			3,418,673,965			94,414,465		45,434,699		1,491,200		0		3,322,768,300
Investments and other assets	Long-term loans for development projects		117,500,000			0		28,500,000			89,000,000			0		0		0		0		89,000,000
	Allowance for loan losses (non-current)		(16,500	)		0		(12,100	)		(4,400	)		0		0		0		0		(4,400	)
	Long-term loans for emigration projects		22,821,735			0		6,201,964			16,619,771			0		0		0		0		16,619,771
	Allowance for loan losses (non-current)		(20,800,029	)		0		(5,007,657	)		(15,792,372	)		0		0		0		0		(15,792,372	)
	Long-term installments receivable on settlement projects		198,085			0		198,085			0			0		0		0		0		0
	Allowance for loan losses (non-current)		(198,085	)		0		(198,085	)		0			0		0		0		0		0
	Claims probable in bankruptcy, claims probable in rehabilitation, and other pertaining to loans for development projects		162,365,511			0		81,603,230			80,762,281			0		0		0		0		80,762,281
	Allowance for loan losses (non-current)		(117,081,101	)		0		(36,318,820	)		(80,762,281	)		0		0		0		0		(80,762,281	)
	Claims probable in bankruptcy, claims probable in rehabilitation, and other pertaining to loans for emigration projects		363,777,691			0		37,598,178			326,179,513			0		0		0		0		326,179,513
	Allowance for loan losses (non-current)		(363,777,691	)		0		(37,598,178	)		(326,179,513	)		0		0		0		0		(326,179,513	)
	Long-term prepaid expenses		71,731,430			17,126,153		70,890,973			17,966,610			0		0		0		0		17,966,610
	Expected amount to be granted from the national budget		0			29,124,451		0			29,124,451			0		0		0		0		29,124,451
	Long-term guarantee deposits		1,535,468,046			62,492,710		69,345,038			1,528,615,718			0		0		0		0		1,528,615,718
	Total		1,771,989,092			108,743,314		215,202,628			1,665,529,778			0		0		0		0		1,665,529,778

F-16

General Account

(2) Details of inventories

													(Unit: Yen)
Type	Balance at the beginning of the period		Increase during the period				Decrease during the period				Balance at the end of the period		Remarks
			Purchase, manufacturing and transfer for the current business year		Others		Delivery and transfer		Others
Stored goods		425,736,785		38,025,439		0		102,483,032		0		361,279,192
Stockpile		425,736,785		38,025,439		0		102,483,032		0		361,279,192
Japan		51,423,676		0		0		0		0		51,423,676
USA		92,308,968		3,138,538		0		9,126,194		0		86,321,312
Republic of Singapore		171,070,730		25,623,798		0		41,827,173		0		154,867,355
Republic of Ghana		2,137,520		0		0		0		0		2,137,520
UAE		97,960,051		9,263,103		0		51,529,665		0		55,693,489
Republic of Palau		5,845,334		0		0		0		0		5,845,334
Republic of Marshall Islands		4,990,506		0		0		0		0		4,990,506
Payments for uncompleted contracted programs		0		18,881,266		0		0		0		18,881,266
Total		425,736,785		56,906,705		0		102,483,032		0		380,160,458

F-17

General Account

(3) Details of loans

(Unit: Yen)

Classification	Balance at the beginning of the period		Increase during the period		Decrease during the period				Balance at the end of the period		Remarks
					Collection		Others
Other short-term loans
Loans for development projects		28,500,000		53,022,262		28,500,000		0		53,022,262
Loans for emigration projects		841,177		360,693		573,721		267,456		360,693
Subtotal		29,341,177		53,382,955		29,073,721		267,456		53,382,955
Other long-term loans
Loans for development projects		279,865,511		0		81,603,230		28,500,000		169,762,281
Loans for emigration projects		386,599,426		21,473,837		8,951,646		56,322,333		342,799,284
Installments receivable on settlement projects		198,085		0		113,830		84,255		0
Subtotal		666,663,022		21,473,837		90,668,706		84,906,588		512,561,565
Total		696,004,199		74,856,792		119,742,427		85,174,044		565,944,520

(Note) “Others” shown under decrease during the period is due to transfer from long-term to short-term loans as well as from short-term to long-term loans, assignment of claim, year-end translation difference, etc.

F-18

General Account

(4) Details of allowance for loan losses, etc.

															(Unit: Yen)
Classification	Balance of loans, etc.							Balance of allowance for loan losses							Remarks
	Balance at the beginning of the period		Increase or decrease during the period			Balance at the end of the period		Balance at the beginning of the period		Increase or decrease during the period			Balance at the end of the period
(Development projects)
Short-term loans for development projects		28,500,000		24,522,262			53,022,262		11,000		(2,200	)		8,800
Ordinary loans		28,500,000		0			28,500,000		11,000		(2,200	)		8,800	Breakdown of the preservation of claims for the Year-end balance of loans is as follows: Bank guarantee                            ¥22,000,000 Joint and several guarantee            ¥6,500,000 Seizure of cash deposits               ¥24,522,262
Claims probable in bankruptcy, claims probable in rehabilitation, and other		0		24,522,262			24,522,262		0		0			0
Long-term loans for development projects		279,865,511		(110,103,230	)		169,762,281		117,097,601		(36,330,920	)		80,766,681
Ordinary loans		117,500,000		(28,500,000	)		89,000,000		16,500		(12,100	)		4,400	Breakdown of the preservation of claims for the Year-end balance of loans is as follows: Bank guarantee                            ¥11,000,000 Joint and several guarantee          ¥78,000,000 Unsecured                                    ¥80,762,281
Claims probable in bankruptcy, claims probable in rehabilitation, and other		162,365,511		(81,603,230	)		80,762,281		117,081,101		(36,318,820	)		80,762,281
(Development projects in total)		308,365,511		(85,580,968	)		222,784,543		117,108,601		(36,333,120	)		80,775,481
(Emigration projects)
Short-term loans for emigration projects		841,177		(480,484	)		360,693		172,008		(41,040	)		130,968
Ordinary loans		841,177		(480,484	)		360,693		172,008		(41,040	)		130,968
Long-term loans for emigration projects		386,599,426		(43,800,142	)		342,799,284		384,577,720		(42,605,835	)		341,971,885
Ordinary loans		2,621,221		(1,322,113	)		1,299,108		599,515		(127,806	)		471,709
Doubtful loans		20,200,514		(4,879,851	)		15,320,663		20,200,514		(4,879,851	)		15,320,663
Claims probable in bankruptcy, claims probable in rehabilitation, and other		363,777,691		(37,598,178	)		326,179,513		363,777,691		(37,598,178	)		326,179,513
(Emigration projects in total)		387,440,603		(44,280,626	)		343,159,977		384,749,728		(42,646,875	)		342,102,853
(Installments receivable on settlement projects)
Long-term installments receivable on settlement projects		198,085		(198,085	)		0		198,085		(198,085	)		0
Doubtful loans		198,085		(198,085	)		0		198,085		(198,085	)		0
(Installments receivable on settlement projects in total)		198,085		(198,085	)		0		198,085		(198,085	)		0
Total		696,004,199		(130,059,679	)		565,944,520		502,056,414		(79,178,080	)		422,878,334

(Note) Standard for appropriation of allowance for loan losses is described in No. 5 of Significant Accounting Policies.

F-19

General Account

(5) Details of asset retirement obligations

									(Unit: Yen)
Classification	Balance at the beginning of the period		Increase during the period		Decrease during the period		Balance at the end of the period		Remarks
Obligations of restoration to original state based on a building lease agreement		276,125,850		0		0		276,125,850	Specified expenses in Accounting Standard for Incorporated Administrative Agency No. 91

F-20

General Account

(6) Details of capital and capital surplus

(Unit: Yen)

Classification		Balance at the beginning of the period			Increase during the period			Decrease during the period			Balance at the end of the period			Remarks
Capital	Government investment		62,452,442,661			0			0			62,452,442,661
	Total		62,452,442,661			0			0			62,452,442,661
Capital        surplus	Capital surplus
	Facility expenses		2,375,948,084			0			0			2,375,948,084
	Operational grants		251,144,317			0			251,144,317			0		Decrease due to long-term guarantee deposits, etc.
	Specified assets in Accounting Standard for Incorporated Administrative Agency No. 87		(122,494,000	)		0			0			(122,494,000	)
	Accumulated disposal and sale differential of non-current assets not included in expenses		(6,075,330,965	)		0			271,430,676			(6,346,761,641	)	Decrease due to sale or disposal of inherited assets, etc.
	Lease contracts		(113,690,859	)		0			0			(113,690,859	)
	Reserve fund carried over from the previous Mid-term Objective period		8,747,390			268,968,386			0			277,715,776		Increase due to acquisition of non-current assets
	Specified expenses in Accounting Standard for Incorporated Administrative Agency No. 99		2,696,290,774			0			0			2,696,290,774
	Total		(979,385,259	)		268,968,386			522,574,993			(1,232,991,866	)
	Accumulated depreciation not included in expenses		(19,196,644,966	)		(1,186,842,530	)		(204,257,598	)		(20,179,229,898	)	Decrease due to depreciation of non-current assets, etc.
	Total		(19,196,644,966	)		(1,186,842,530	)		(204,257,598	)		(20,179,229,898	)
	Accumulated impairment loss not included in expenses		(10,201,839	)		(527,101,964	)		0			(537,303,803	)	Decrease due to impairment loss of non-current assets
	Total		(10,201,839	)		(527,101,964	)		0			(537,303,803	)
	Accumulated interest expenses not included in expenses		(7,189,037	)		0			0			(7,189,037	)
	Total		(7,189,037	)		0			0			(7,189,037	)
	Total balance		(20,193,421,101	)		(1,444,976,108	)		318,317,395			(21,956,714,604	)

F-21

General Account

(7) Details of reserve fund and reversal of reserve fund for specific purpose

1. Details of reserve fund

									(Unit: Yen)
Classification	Balance at the beginning of the period		Increase during the period		Decrease during the period		Balance at the end of the period		Remarks
Reserve fund carried over from the previous Mid-term                    Objective period		19,509,259,590		0		12,495,843,440		7,013,416,150
Reserve fund under Paragraph 1 Article 44 of the Act on General Rules for Incorporated Administrative Agency		0		4,303,840,433		0		4,303,840,433	Increase resulting from the appropriation of profits for business year 2017
Total		19,509,259,590		4,303,840,433		12,495,843,440		11,317,256,583

2. Details of reversal of reserve fund for specific purpose

				(Unit: Yen)
Classification		Amount		Remarks
Reversal amount of           reserve fund for           specific purpose	Reserve fund carried over from previous Mid-term Objective period		12,226,875,054	The amount expensed for the current period
Total			12,226,875,054

F-22

General Account

(8) Details of operational grant liabilities, transfer for the current period, etc.

1. Details of changes in operational grant liabilities (Unit: Yen)

Balance at the beginning of   the period	Operational grants for the current period		Transfer for the current period							Balance at the end of the period
			Revenues from operational grants		Contra-accounts for assets funded by operational grants		Capital surplus	Subtotal
20,100,863,243		152,364,330,000		139,030,948,723		2,134,121,508	0		141,165,070,231		31,300,123,012

2. Details of the transfer amount from operational grant liabilities and the main usage

(1) Details of the transfer amount to operational grant revenue and the main usage				(Unit: Yen)
Classification		Revenues from operational grants	Main usages of operational grants
			Expenses	Main usages
Transfer based on operation achievement method
	Priority development cooperation issues	95,394,254,881	95,194,011,893	Outsourcing expenses: ¥49,795,246,254, Fees paid to experts: ¥21,077,860,410, Other expenses: ¥24,320,905,229
	Partnerships with the private sector	6,057,670,730	5,994,461,403	Outsourcing expenses: ¥4,764,812,568, Fees paid to experts: ¥510,910,808, Other expenses: ¥718,738,027
	Partnerships with various development partners	24,653,350,027	24,518,546,361	Fees paid to experts: ¥8,892,248,278, Outsourcing expenses: ¥7,440,817,080, Other expenses: ¥8,185,481,003
	Strengthen foundations for operational implementation	3,917,456,441	3,979,125,942	Fees paid to experts: ¥1,783,421,893, Outsourcing expenses: ¥918,561,398, Other expenses: ¥1,277,142,651
	Common	791,984,000	1,002,317,395	Personnel expenses: ¥1,002,317,395
Transfer based on term method
	Common	7,800,920,180	7,678,233,566	Personnel expenses: ¥1,631,374,625, Rents: ¥1,102,919,630, Other expenses: ¥4,943,939,311
Transfer based on the related expenses are incurred
	Disaster relief activities	415,312,464	415,312,464	Outsourcing expenses: ¥165,379,635, Rents: ¥50,030,410, Other expenses: ¥199,902,419
Total		139,030,948,723	138,782,009,024

(2) Details of transfer amount to contra-accounts for assets funded by operational grants and capital surplus and main usages				(Unit: Yen)
Segment	Transfer amount to contra-accounts for assets funded by operational grants		Transfer amount to capital surplus
	Transfer amount	Main usages	Transfer amount	Main usages
Priority development cooperation issues	1,266,550,990	Software in progress: ¥948,472,208 Vehicles: ¥123,304,427 Others: ¥194,774,355	0
Partnerships with the private sector	79,816,617	Software in progress: ¥60,467,945 Vehicles: ¥7,861,027 Others: ¥11,487,645	0
Partnerships with various development partners	318,854,055	Software in progress: ¥223,063,096 Vehicles: ¥31,860,846 Others: ¥63,930,113	0
Strengthen foundations for operational implementation	97,946,525	Software in progress: ¥40,788,391 Stored goods: ¥38,025,439 Others: ¥19,132,695	0
Common	370,953,321	Software in progress: ¥312,429,727 Software: ¥36,466,574 Others: ¥22,057,020	0
Total	2,134,121,508		0

3. Details of the balance of operational grant liabilities		(Unit: Yen)
Balance of operational grant liabilities		Reasons for the accrual of balance and revenue generation plan
Balance in relation to operations to which the revenue recognition method based on operation achievement is applied	30,618,293,404	The operation cycle of projects implemented upon requests from the governments of partnering countries in principle ranges over multiple business years. However, the balance is expected to expensed during the current Mid-term Objective period.
Balance in relation to operations to which the revenue recognition method based on term is applied	0	The balance of operational grant liabilities is not carried forward to the next business year.
Balance in relation to operations to which the revenue recognition method based on incurred expenses is applied	681,829,608	The balance is expected to be disbursed for disaster relief activities in the event of major unforseen disasters during the current Mid-term Objective period.
Total	31,300,123,012

F-23

General Account

(9) Details of facility expenses

(Unit: Yen)

Classification	Amount granted in the     current period		Breakdown of the accounting treatment mentioned on the left side								Remarks
			Construction in progress facility expenses		Capital surplus		Revenues from subsidy for facilities		Revenues from expected amount to be granted from the national budget
Program to enhance disaster resilience in domestic offices		29,124,451		0		0		0		29,124,451
Total		29,124,451		0		0		0		29,124,451

(Note) The specified expenses for which grant from the national budget is to be expected in the upcoming business years are recorded according to the Accounting Standard for Incorporated Administrative Agency No. 84 “Accounting method regarding the specific expenses for which grant from the national budget is subsequently measured”.

F-24

General Account

(10) Details of remunerations and salaries of officers and employees

(Unit: Thousands of yen, persons)

Classification	Remunerations or salaries				Retirement benefits
	Payment amount		Number of people		Payment amount		Number of people
Officers		188,720		13		3,332		2
Employees		16,022,695		1,974		998,985		106
Total		16,211,415		1,987		1,002,317		108

(Notes)	1. Payment standard of remunerations and retirement benefits to officers Remunerations and retirement benefits to officers are paid based on “Rules on Remuneration for Officers” and “Rules on Retirement Benefits for Officers” in place for Incorporated Administrative Agency - Japan International Cooperation Agency.
	2. Standard of payment of salaries and retirement benefits to employees Salaries and retirement benefits to employees are paid based on “Rules on Salaries for Employees” and “Rules on Retirement Benefits for Employees” in place for Incorporated Administrative Agency - Japan International Cooperation Agency.
	3. Number of people As for the number of people to whom remunerations or salaries are paid, the average number of JICA officers and employees during the period is used.
	4. Others There are no part-time officers or employees classified as external members.

F-25

General Account

(11) Segment information to be disclosed

																											(Unit: Yen)
Classification	(1) Priority         development         cooperation issues			(2) Partnerships with  the private sector			(3) Partnerships with  various development  partners			(4) Strengthen  foundations for  operational  implementation			(5) Grant aid		(6) Contracted  programs			(7) Other  operations			Subtotal			(8) Corporate common  expenses, etc.			Total
I. Operating expenses, revenues, and profits and losses
Operating expenses		106,569,220,645			6,794,107,115			25,063,106,795			4,582,935,592			94,985,301,797		69,405,659			12,053,139			238,076,130,742			29,124,451			238,105,255,193
Outsourcing expenses		49,795,246,254			4,764,812,568			7,440,817,080			918,561,398			0		60,234,328			9,056,297			62,988,727,925			0			62,988,727,925
Fees paid to experts		21,077,860,410			510,910,808			8,892,248,278			1,783,421,893			0		0			0			32,264,441,389			0			32,264,441,389
Personnel expenses		10,864,907,191			692,670,386			2,555,224,929			467,237,816			0		0			0			14,580,040,322			0			14,580,040,322
Fund provision		0			0			0			0			94,985,301,797		0			0			94,985,301,797			0			94,985,301,797
Other expenses		24,831,206,790			825,713,353			6,174,816,508			1,413,714,485			0		9,171,331			2,996,842			33,257,619,309			29,124,451			33,286,743,760
General administrative expenses		—			—			—			—			—		—			—			—			8,593,211,150			8,593,211,150
Personnel expenses		—			—			—			—			—		—			—			—			2,633,692,020			2,633,692,020
Rents		—			—			—			—			—		—			—			—			1,102,919,630			1,102,919,630
Other expenses		—			—			—			—			—		—			—			—			4,856,599,500			4,856,599,500
Depreciation		—			—			—			—			—		—			—			—			600,333,324			600,333,324
Financial expenses		—			—			—			—			—		—			—			—			243,188,779			243,188,779
Miscellaneous expenses		0			0			0			0			0		0			0			0			1,299,884			1,299,884
Total		106,569,220,645			6,794,107,115			25,063,106,795			4,582,935,592			94,985,301,797		69,405,659			12,053,139			238,076,130,742			9,467,157,588			247,543,288,330
Operating revenues
Revenues from operational grants		95,394,254,881			6,057,670,730			24,653,350,027			4,332,768,905			0		0			0			130,438,044,543			8,592,904,180			139,030,948,723
Revenues from grant aid		0			0			0			0			94,985,301,797		0			0			94,985,301,797			0			94,985,301,797
Revenues from contracted programs		0			0			0			0			0		70,719,047			0			70,719,047			0			70,719,047
Revenues from interest on development projects		0			0			0			0			0		0			0			0			319,810			319,810
Revenues from settlement projects		0			0			0			0			0		0			0			0			126,768			126,768
Revenues from emigration projects		0			0			0			0			0		0			0			0			1,413,823			1,413,823
Donation revenues		0			0			0			0			0		0			12,053,139			12,053,139			0			12,053,139
Revenues from expected amount to be granted from the national budget		0			0			0			0			0		0			0			0			29,124,451			29,124,451
Reversal of allowance for loan losses		0			0			0			0			0		0			0			0			33,585,930			33,585,930
Reversal of contra-accounts for assets funded by operational grants		0			0			0			102,446,209			0		0			0			102,446,209			427,641,223			530,087,432
Financial revenues		—			—			—			—			—		—			—			—			5,870,215			5,870,215
Miscellaneous income		190,794,125			12,163,697			46,414,209			8,204,969			0		0			0			257,577,000			3,493,621,276			3,751,198,276
Total		95,585,049,006			6,069,834,427			24,699,764,236			4,443,420,083			94,985,301,797		70,719,047			12,053,139			225,866,141,735			12,584,607,676			238,450,749,411
Operating income and loss		(10,984,171,639	)		(724,272,688	)		(363,342,559	)		(139,515,509	)		0		1,313,388			0			(12,209,989,007	)		3,117,450,088			(9,092,538,919	)
II. Extraordinary income and losses, etc.
Extraordinary losses		0			0			0			0			0		0			0			0			34,357,916			34,357,916
Extraordinary income		0			0			0			0			0		0			0			0			67,768,209			67,768,209
Net income and loss		(10,984,171,639	)		(724,272,688	)		(363,342,559	)		(139,515,509	)		0		1,313,388			0			(12,209,989,007	)		3,150,860,381			(9,059,128,626	)
Reversal of reserve fund carried over from the previous Mid-term Objective period		10,645,448,226			683,848,827			870,624,475			22,088,848			0		0			0			12,222,010,376			4,864,678			12,226,875,054
Total income and loss for the current year		(338,723,413	)		(40,423,861	)		507,281,916			(117,426,661	)		0		1,313,388			0			12,021,369			3,155,725,059			3,167,746,428
III. Administrative service operation cost
Operating expenses
Expenses in the statement of income		106,569,220,645			6,794,107,115			25,063,106,795			4,582,935,592			94,985,301,797		69,405,659			12,053,139			238,076,130,742			9,501,515,504			247,577,646,246
(Deduction) Self-revenues		(190,794,125	)		(12,163,697	)		(46,414,209	)		(8,204,969	)		0		(70,719,047	)		(12,053,139	)		(340,349,186	)		(3,543,194,920	)		(3,883,544,106	)
Total operating expenses		106,378,426,520			6,781,943,418			25,016,692,586			4,574,730,623			94,985,301,797		(1,313,388	)		0			237,735,781,556			5,958,320,584			243,694,102,140
Depreciation not included in expenses		—			—			—			—			—		—			—			—			1,186,842,530			1,186,842,530
Impairment loss not included in expenses		—			—			—			—			—		—			—			—			527,101,964			527,101,964
Disposal and sale differential not included in expenses		—			—			—			—			—		—			—			—			66,903,045			66,903,045
Estimated bonus payments not included in provision		—			—			—			—			—		—			—			—			19,331,720			19,331,720
Estimated increase in retirement benefits not included in provision		—			—			—			—			—		—			—			—			(924,518,783	)		(924,518,783	)
Administrative service operation cost		106,378,426,520			6,781,943,418			25,016,692,586			4,574,730,623			94,985,301,797		(1,313,388	)		0			237,735,781,556			6,833,981,060			244,569,762,616
IV. Total assets
Cash and deposits		0			0			0			0			175,805,910,128		354,704,052			3,402,481,331			179,563,095,511			35,362,821,717			214,925,917,228
Advance payments		20,417,717,224			730,801,721			1,759,759,743			54,769,408			0		0			0			22,963,048,096			0			22,963,048,096
Buildings		—			—			—			—			—		—			—			—			22,199,654,213			22,199,654,213
Land		—			—			—			—			—		—			—			—			14,322,908,481			14,322,908,481
Other assets		187,628,009			14,851,836			75,976,401			363,077,076			148,313		24,839,125			143,172,987			809,693,747			10,989,486,185			11,799,179,932
Total		20,605,345,233			745,653,557			1,835,736,144			417,846,484			175,806,058,441		379,543,177			3,545,654,318			203,335,837,354			82,874,870,596			286,210,707,950

(Note)1. Segment classification and main descriptions

Operations are classified into four segments in accordance with descriptions of the Mid-term Plan based on operations specified in Article 13 of the Act of the Incorporated Administrative Agency - Japan International Cooperation Agency.

Operations in relation to donations and operations prescribed in Article 13 are organized as other operations.

1) Priority development cooperation issues

2) Partnerships with the private sector

3) Partnerships with various development partners

4) Strengthen foundations for operational implementation

2. Disclosure of operating expenses

Operating expenses are classified in operating expenses in the statement of income according to their nature. Items that account for less than 5% of the total amount allocated to each segment are included in other expenses.

The relationship between operating expenses in this list and operating expenses in the Statement of Income is as follows:

1) Priority development cooperation issues: amount of expenses for priority sectors and region

2) Partnerships with the private sector: amount of expenses for private sector partnership

3) Partnerships with various development partners: amount of expenses for domestic partnerships

4) Strengthen foundations for operational implementation: amount of expenses for other operations

5) Grant aid: amount of expenses for grant aid

6) Contracted programs: amount of expenses for contracted programs

7) Other operations: amount of expenses for donation projects

8) Corporate common expenses, etc.: amounts of facility expenses

(2) Personnel expenses etc. and rents which are recorded in General Administrative Expenses and administrative service operation cost that have been classified as corporate common expenses, etc., cannot be allocated to each segment due to the following reasons:

1) Personnel expenses: employees are in charge of several operations and their involvement in each operation is not uniform.

2) Rents: a wide variety of buildings are included in target property and they are used for multiple operations.

3. Assets are listed in accordance with the accounts in the balance sheet. Items that account for less than 5% of total assets are included in other assets.

4. Because operating expenses for 1) Priority development cooperation issues and 3) Partnerships with various development partners are financed by operational grants and revenues from operations, equivalent amounts are shown as miscellaneous income in operating revenues.

5. “-” is shown in the columns of items which have been allocated only to corporate common expenses, etc., because they cannot be allocated to individual segments.

F-26

General Account

(12) Details of grant-in-aid for scientific research

			(Unit: Yen)
Classification	Amount granted in the current period	Number of the projects	Remarks
Grant-in-Aid for Scientific Research B	(950,000)   285,000	3	Japan Society for the Promotion of Science Grant-in-Aid for Scientific Research
Grant-in-Aid for Scientific Research C	(460,000)   138,000	2
Grant-in-Aid for Young Scientists B	(2,540,000)   762,000	2
Grant-in-Aid for Young Scientists C	(1,100,000)   330,000	1
Total	(5,050,000)   1,515,000	8

(Note) Amount granted in the current period indicate the amount equivalent to indirect expenses. The amount equivalent to direct expenses are indicated in parentheses (    ).

F-27

General Account

(13) Details of main assets and liabilities other than those mentioned above

1. Cash and deposits

		(Unit: Yen)
Classification	Amount	Remarks
Cash	6,875,188
Cash in foreign currency	63,930,984
Deposit accounts	205,285,461,845
Checking accounts	3,136
Deposit accounts in foreign currency	331,209,755
Checking accounts in foreign currency	2,938,436,320
Time deposits	6,300,000,000
Total	214,925,917,228

2. Advance payments

				(Unit: Yen)
Classification	Amount		Counterparty	Remarks
Operating expenses		22,963,048,096	JV Oriental Consultants Global Co., Ltd., etc.
Total		22,963,048,096
3. Funds for grant aid
				(Unit: Yen)
Classification	Amount		Counterparty	Remarks
Funds for grant aid		174,790,760,441	Republic of the Union of Myanmar, etc.
Total		174,790,760,441
4. Accounts payable
				(Unit: Yen)
Classification	Amount		Counterparty	Remarks
Operating expenses		13,008,915,690	JV Nippon Koei Co., Ltd., etc.
General administrative expenses		1,652,677,662	Accenture Japan Ltd, etc.
Expenses for contracted programs		656,038	Recruit Staffing Co., Ltd., etc.
Expenses for grant aid		1,015,298,000	The Government of Republic of Liberia, etc.
Expenses for donation projects		685,298	Japan Fundraising Association, etc.
Others		237,593,924	Mutual Aid Association of JICA, etc.
Total		15,915,826,612

F-28

General Account

(14) Details of affiliated companies and relevant public interest corporations

Corporation type and name

(Relevant public interest corporations, etc.)

(Relevant public interest corporations, etc.)

Items

Japan Overseas Cooperative Association

The Association of Nikkei & Japanese Abroad

Outline of operations

(1)  International cooperative activities in developing countries and activities pertaining to the promotion, promulgation, and edification of international exchange and global understanding. (2)  Assistance for postdisaster restoration and peace-building activities. (3)  Activities pertaining to cooperation and collaboration with international and domestic support agencies, international cooperation associations, and other institutions. (4)  Activities pertaining to support for the development of a multicultural symbiotic society and vitalization and internationalization of societies. (5)  Activities to support integrated community building and human resource development involving various sectors for the purpose of regional revitalization in cooperation in local communities. ① Planning, support on coordination and implementation of project for the purpose of integrated community building including various sectors such as education, welfare service and industrial promotion ② Category II social welfare services prescribed in article 2 of the Social Welfare Act (a)  Based on Child Welfare Act: -  day care services for handicapped children -  consultation services for handicapped children -  after-school child sound upbringing services -  regional base services of the child care support -  nursery center management services (b) Based on act on Social Welfare for the Elderly -  senior in-home care services -  senior day-services (c)  Based on act to comprehensively support daily and social lives of persons with disabilities -  welfare services for persons with disabilities -  consultation support services -  services to support regional life -  management of community activity support centers ③ Human resource development and training (6)  Other activities necessary to achieve the objectives of the Association.

(1)   Support and promulgation of economic, cultural, educational, and social activities in cooperation with overseas and domestic Japan-related organizations or by itself. (2)   Cooperation pertaining to carrying out of international cooperative activities and international exchange activities. (3)   Collaboration with municipalities and international exchange associations (4)   Promulgation both at home and abroad of research outcomes and knowledge regarding activities pertaining international cooperation and international exchange endeavors (5)   Provision of information and collaboration regarding migration and overseas expansion of businesses (6)   Establishment and operation of centers for Japanese abroad (7)   Consultations and intermediation for and regarding Japanese abroad (8)   Publicity of and edification regarding situations in Japan (9)   Organizing of the convention of Nikkei and Japanese abroad (10)  Edification regarding investment from overseas, investment overseas, and businesses (11)  Other activities necessary for the fulfillment of public good

Name of officers

Number of officers: 10 Representative director and president: Ryosei Oya Board member: Kazuto Kitano (Former Director General of the Nihonmatsu Training Center of JICA)

Number of officers: 17 (Representative Director) President: Kiyoshi Ueda

Association chart on transactions between relevant public interest corporations and JICA

Japan Overseas Cooperative   Association

JICA

JICA

The Association of Nikkei & Japanese Abroad

(Operation Consignment)

(Operation Consignment)

Assets

1,567,246,600 yen

177,786,532 yen

Liabilities

435,915,062 yen

111,089,513 yen

(Statement of changes in net assets)

Balance of net assets at the beginning of the business year

890,266,400 yen

63,334,712 yen

Changes in general net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

24,200,000 yen

- Subsidy received, etc.

0 yen

- Other revenues

- Other revenues

3,050,354,851 yen

- Other revenues

418,163,879 yen

¡   Expenses

¡   Expenses

3,045,189,713 yen

¡   Expenses

414,801,572 yen

Changes in specified net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

211,700,000 yen

- Subsidy received, etc.

0 yen

- Other revenues

- Other revenues

0 yen

- Other revenues

0 yen

¡   Expenses

¡   Expenses

0 yen

¡   Expenses

0 yen

Balance of net assets at the end of the business year

1,131,331,538 yen

66,697,019 yen

(Statement of activities)

Balance of net assets at the beginning of the business year

-

-

Total revenues for the current period

-

-

Total expenditures for the current period

-

-

Balance of net assets at the end of the business year

-

-

Details of contributions and donations to basic funds of relevant public interest corporations, etc. Details of membership expenses and burden charges to be borne in order to be allocated to management expenses, operating expenses, etc.

N/A

N/A

Details of receivables and payables to relevant public interest corporations

Accounts payable: 312,337,203 yen, Accounts receivable: 385,978 yen

Accounts payable: 9,817,909 yen, Accounts receivable: 193,955 yen

Details of debt guarantee

N/A

N/A

Amounts and ratios in relation to operating revenues, order placement by JICA, etc. (amounts and ratios of competitive contracts, planning competitions and public selections, and non-competitive negotiated contracts)

Total operating revenues:

2,572,546,662    yen

Total operating revenues:

385,866,512 yen

(Breakdown: JICA transactions,

1,178,077,796 yen

45.8

%)

(Breakdown: JICA transactions,

145,049,620 yen

37.6

%)

Competitive contract

(

809,795,927 yen

68.7

%)

Competitive contract

(

95,965,198 yen

66.2

%)

Planning competition and public selection

(

20,655,148 yen

1.8

%)

Planning competition and public selection

(

38,905,376 yen

26.8

%)

Non-competitive negotiated contracts

(

347,626,721 yen

29.5

%)

Non-competitive negotiated contracts

(

10,179,046 yen

7.0

%)

(Note)   Pursuant to “Concerning the revision of the accounting standards for public-interest corporations (agreement from the liaison council of relevant agencies guidance, supervision, etc., of public-interest corporations, etc., of October 14, 2004) (“Accounting Standards for Public-interest Corporations” hereinafter),” the entity is not legally required to create a statement of revenues and expenses; hence, such statement is not prepared.

(Note 1)  The above amount pertains to the period from April 1, 2017, through March 31, 2018. (Note 2)  Pursuant to “Accounting Standards for Public-interest Corporations”, the entity is not legally required to create a statement of revenues and expenses; hence, such statement is not prepared.

F-29

Corporation type and name

(Relevant public interest corporations, etc.)

(Relevant public interest corporations, etc.)

Items

Kitakyushu International Techno-Cooperative Association

Pacific Resource Exchange Center

Outline of operations

(1)   Development of necessary research studies and educational curriculums, creation and undertaking of training programs, dispatch of experts, and transfer of technologies overseas (2)   Planning and undertaking of activities to promote international goodwill (3)   Planning and undertaking of other activities for the purpose of fulfilling the aims of this association

(1)   Fostering human resources to contribute mainly to the growth of developing countries, etc. (2)   Economic, cultural, and personal exchange activities mainly with developing countries, etc. (3)   Cultivating human resources tasked with economic, cultural, and personal exchange activities mainly with developing countries. (4)   Gathering information and research/study related to economic cooperation (5)   Public awareness and publicity concerning the aforementioned activities (6)   Other activities necessary for the achievement of objectives of this corporate body

Name of officers

Number of officers: 11 President: Hideki Furuno

Number of officers: 18 Representative Director: Kiyoshi Otsubo

Association chart on transactions between relevant public interest corporations and JICA

Kitakyushu International Techno-Cooperative Association

Pacific Resource Exchange Center

JICA

JICA

(Operation Consignment)

(Operation Consignment)

Assets

661,093,398 yen

4,674,251,180 yen

Liabilities

17,107,402 yen

62,920,766 yen

(Statement of changes in net assets)

Balance of net assets at the beginning of the business year

658,907,670 yen

4,575,505,137 yen

Changes in general net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

32,700,000 yen

- Subsidy received, etc.

0 yen

- Other revenues

- Other revenues

161,387,573 yen

- Other revenues

193,361,962 yen

¡   Expenses

¡   Expenses

208,230,033 yen

¡   Expenses

157,536,685 yen

Changes in specified net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

0 yen

- Subsidy received, etc.

0 yen

- Other revenues

- Other revenues

0 yen

- Other revenues

0 yen

¡   Expenses

¡   Expenses

779,214 yen

¡   Expenses

0 yen

Balance of net assets at the end of the business year

643,985,996 yen

4,611,330,414 yen

(Statement of activities)

Balance of net assets at the beginning of the business year

-

-

Total revenues for the current period

-

-

Total expenditures for the current period

-

-

Balance of net assets at the end of the business year

-

-

Details of contributions and donations to basic funds of relevant public interest corporations, etc. Details of membership expenses and burden charges to be borne in order to be allocated to management expenses, operating expenses, etc.

N/A

N/A

Details of receivables and payables to relevant public interest corporations

Accounts payable: 2,805,840 yen

Accounts payable: 13,241,850 yen

Details of debt guarantee

N/A

N/A

Amounts and ratios in relation to operating revenues, order placement by JICA, etc. (amounts and ratios of competitive contracts, planning competitions and public selections, and non-competitive negotiated contracts)

Total operating revenues:

155,889,923 yen

Total operating revenues:

81,731,958 yen

(Breakdown: JICA transactions,

122,819,363 yen

78.8

%)

(Breakdown: JICA transactions,

54,086,605 yen

66.2

%)

Competitive contract

(

0 yen

0.0

%)

Competitive contract

(

0 yen

0.0

%)

Planning competition and public selection

(

122,819,363 yen

100.0

%)

Planning competition and public selection

(

54,086,605 yen

100.0

%)

Non-competitive negotiated contracts

(

0 yen

0.0

%)

Non-competitive negotiated contracts

(

0 yen

0.0

%)

(Note 1)  The above amount pertains to the period from April 1, 2017, through March 31, 2018.

(Note 1)  The above amount pertains to the period from April 1, 2017, through March 31, 2018.

(Note 2)  Pursuant to “Accounting Standards for Public-interest Corporations”, the entity is not legally required to create a statement of revenues and expenses; hence, such statement is not prepared.

(Note 2) Pursuant to “Accounting Standards for Public-interest Corporations”, the entity is not legally required to create a statement of revenues and expenses; hence, such statement is not prepared.

F-30

Corporation type and name

(Relevant public interest corporations, etc.)

(Relevant public interest corporations, etc.)

Items

Ecologic

Overseas Agricultural Development Association

Outline of operations

(1)   Planning, research/study, design development, operation management, providing of information and consulting services regarding domestic and overseas tourism and leisure (2)   Planning, management, marketing and consulting services of tours (3)   Planning, research/study, production publication, marketing, operation management and consulting services regarding education and human development activities (4)   Marketing, planning, production and import and export of domestic and overseas artifacts, handicraft, local products, foods and books. (5)   Management of hotels and others (6)   Management of restaurants (7)   Planning, research/study, design development, operation management, providing of information and Consulting services regarding environmental preservation and local cultural preservation. (8)   Activities related or incidental to the activities listed in the preceding items

(1)   Proposal regarding effective undertaking of overseas agricultural development cooperation (2)   Guidance and advice for overseas agricultural development cooperation by private-sector companies (3)   Cooperation for activities by the government and private-sector companies regarding overseas agricultural development cooperation (4)   Research and study regarding overseas agricultural development cooperation (5)   Gathering and providing of information regarding overseas agricultural development cooperation (6)   Carrying out of collaborative activities with community organizations regarding rural community promotion in Japan (7)   Capacity building and securing of personnel who engage in rural community promotion in Japan (8)   Establishment and operation of necessary facilities for aforementioned activities (9)   Other activities necessary to fulfill the aims of this organization

Name of officers

Number of officers: 1 President: Masatoku Shintani

Number of officers: 9 President: Hidekazu Toyohara

Association chart on transactions between relevant public interest corporations and JICA

Ecologic

Overseas Agricultural Development Association

JICA

JICA

(Operation Consignment)

(Operation Consignment)

Assets

16,702,056 yen

16,657,814 yen

Liabilities

11,827,886 yen

24,027,446 yen

(Statement of changes in net assets)

Balance of net assets at the beginning of the business year

2,708,360 yen

(6,508,002) yen

Changes in general net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

0 yen

- Subsidy received, etc.

0 yen

- Other revenues

- Other revenues

44,741,065 yen

- Other revenues

130,386,124 yen

¡   Expenses

¡   Expenses

42,575,255 yen

¡   Expenses

131,337,754 yen

Changes in specified net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

0 yen

- Subsidy received, etc.

0 yen

- Other revenues

- Other revenues

0 yen

- Other revenues

0 yen

¡   Expenses

¡   Expenses

0 yen

¡   Expenses

0 yen

Balance of net assets at the end of the business year

4,874,170 yen

(7,459,632) yen

(Statement of activities)

Balance of net assets at the beginning of the business year

-

-

Total revenues for the current period

-

-

Total expenditures for the current period

-

-

Balance of net assets at the end of the business year

-

-

Details of contributions and donations to basic funds of relevant public interest corporations, etc. Details of membership expenses and burden charges to be borne in order to be allocated to management expenses, operating expenses, etc.

N/A

N/A

Details of receivables and payables to relevant public interest corporations

N/A

Accounts receivable: 777,679 yen

Details of debt guarantee

N/A

N/A

Amounts and ratios in relation to operating revenues, order placement by JICA, etc. (amounts and ratios of competitive contracts, planning competitions and public selections, and non-competitive negotiated contracts)

Total operating revenues:

44,630,333 yen

Total operating revenues:

128,460,625 yen

(Breakdown: JICA transactions,

21,755,596 yen

48.7

%)

(Breakdown: JICA transactions,

97,694,383 yen

76.1

%)

Competitive contract

(

0 yen

0.0

%)

Competitive contract

(

0 yen

0.0

%)

Planning competition and public selection

(

21,755,596 yen

100.0

%)

Planning competition and public selection

(

97,694,383 yen

100.0

%)

Non-competitive negotiated contracts

(

0 yen

0.0

%)

Non-competitive negotiated contracts

(

0 yen

0.0

%)

(Note)   Pursuant to “Basic Guidelines for SME Accounting (published by study committee for SME accounting on February 1, 2012)”, the statement of income is prepared.

(Note)   Pursuant to “Accounting Standards for Public-interest Corporations”, the entity is not legally required to create a statement of revenues and expenses; hence, such statement is not prepared.

F-31

Corporation type and name

(Relevant public interest corporations, etc.)

(Relevant public interest corporations, etc.)

Items

Agricultural Development Consultants Association

Japan Overseas Forestry Consultants Association

Outline of operations

(1)  Technical research to create projects for overseas agricultural development (2)  Research of information and gathering of material regarding overseas agricultural development (3)  Guidance and advice for consulting firms and organizations (4)  Organizing lectures and symposiums regarding overseas technical assistance (5)  Support regarding activities for overseas agricultural development (6)  Other activities necessary to fulfill the aims of this association

(1)  Survey regarding overseas forest and forestry (2)  Technical development regarding overseas forest and forestry (3)  Afforestation in developing countries (4)  Guidance and advice regarding overseas forest and forestry (5)  Implementation of training regarding overseas forest and forestry (6)  Gathering and provision of material and information on overseas forest and forestry (7)  Other activities necessary to fulfill the purposes of the Association

Name of officers

Number of officers: 8 Chairman: Shigeyasu Aoyama Director: Ryuzo Nishimaki (Former Director General of Rural Development Department of JICA)

Number of officers: 12 Representative Director: Fusho Ozawa

Association chart on transactions between relevant public interest corporations and JICA

Agricultural Development Consultants Association

Japan Overseas Forestry Consultants Association

JICA

JICA

(Operation Consignment)

(Operation Consignment)

Assets

115,686,433 yen

192,432,764 yen

Liabilities

9,337,438 yen

142,046,210 yen

(Statement of changes in net assets)

Balance of net assets at the beginning of the business year

108,330,278 yen

55,987,725 yen

Changes in general net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

40,366,666 yen

- Subsidy received, etc.

0 yen

- Other revenues

- Other revenues

72,355,398 yen

- Other revenues

228,463,835 yen

¡   Expenses

¡   Expenses

114,703,347 yen

¡   Expenses

234,065,006 yen

Changes in specified net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

0 yen

- Subsidy received, etc.

0 yen

- Other revenues

- Other revenues

0 yen

- Other revenues

0 yen

¡   Expenses

¡   Expenses

0 yen

¡   Expenses

0 yen

Balance of net assets at the end of the business year

106,348,995 yen

50,386,554 yen

(Statement of activities)

Balance of net assets at the beginning of the business year

-

-

Total revenues for the current period

-

-

Total expenditures for the current period

-

-

Balance of net assets at the end of the business year

-

-

Details of contributions and donations to basic funds of relevant public interest corporations, etc. Details of membership expenses and burden charges to be borne in order to be allocated to management expenses, operating expenses, etc.

N/A

N/A

Details of receivables and payables to relevant public interest corporations

Accounts payable: 3,341,247 yen, Accounts receivable: 27,478 yen

N/A

Details of debt guarantee

N/A

N/A

Amounts and ratios in relation to operating revenues, order placement by JICA, etc. (amounts and ratios of competitive contracts, planning competitions and public selections, and non-competitive negotiated contracts)

Total operating revenues:

66,313,120 yen

Total operating revenues:

227,222,141 yen

(Breakdown: JICA transactions,

43,814,520 yen

66.1

%)

(Breakdown: JICA transactions,

200,127,364 yen

88.1

%)

Competitive contract

(

0 yen

0.0

%)

Competitive contract

(

0 yen

0.0

%)

Planning competition and public selection

(

43,814,520 yen

100.0

%)

Planning competition and public selection

(

200,127,364 yen

100.0

%)

Non-competitive negotiated contracts

(

0 yen

0.0

%)

Non-competitive negotiated contracts

(

0 yen

0.0

%)

(Note 1)  The above amount pertains to the period from April 1, 2017, through March 31, 2018. (Note 2)  Pursuant to “Accounting Standards for Public-interest Corporations”, the entity is not legally required to create a statement of revenues and expenses; hence, such statement is not prepared.

(Note)   Pursuant to “Accounting Standards for Public-interest Corporations”, the entity is not legally required to create a statement of revenues and expenses; hence, such statement is not prepared.

F-32

Corporation type and name

(Relevant public interest corporations, etc.)

(Relevant public interest corporations, etc.)

Items

Supporting Organization of J.O.C.V.

Takikawa International Exchange Association

Outline of operations

(1)  Activities for the diffusion of cooperation volunteers’ activities for awareness raising and for understanding promotion (2)  Activities for promoting participation in cooperation volunteers (3)  Activities for assisting cooperation volunteers’ local activities (4)  Activities for leveraging cooperation volunteers’ experience for society (5)  Social contribution projects based on collaboration with citizen volunteers (6)  Activities for placement and staffing (7)  Other activities necessary to achieve the objectives of this corporation

(1)  Activities for international exchange (2)  Activities for international cooperation (3)  Activities for fostering international understanding (4)  Activities for promoting multiculturalism (5)  Other activities necessary to fulfill the purposes of the Association

Name of officers

Number of officers: 16 President: Yasuhiro Yamamoto Standing Director General: Kazuhisa Matsuoka (Former Senior Vice President of JICA)

Number of officers: 21 President: Norikazu Mizuguchi

Association chart on transactions between relevant public interest corporations and JICA

Supporting Organization of J.O.C.V.

Takikawa International Exchange Association

JICA

JICA

(Operation Consignment)

(Operation Consignment)

Assets

54,718,975 yen

45,047,958 yen

Liabilities

9,823,622 yen

599,923 yen

(Statement of changes in net assets)

Balance of net assets at the beginning of the business year

51,043,495 yen

38,545,897 yen

Changes in general net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

3,000,000 yen

- Subsidy received, etc.

5,450,000 yen

- Other revenues

- Other revenues

110,762,879 yen

- Other revenues

44,592,705 yen

¡   Expenses

¡   Expenses

119,911,021 yen

¡   Expenses

44,140,567 yen

Changes in specified net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

0 yen

- Subsidy received, etc.

0 yen

- Other revenues

- Other revenues

0 yen

- Other revenues

0 yen

¡   Expenses

¡   Expenses

0 yen

¡   Expenses

0 yen

Balance of net assets at the end of the business year

44,895,353 yen

44,448,035 yen

(Statement of activities)

Balance of net assets at the beginning of the business year

-

-

Total revenues for the current period

-

-

Total expenditures for the current period

-

-

Balance of net assets at the end of the business year

-

-

Details of contributions and donations to basic funds of relevant public interest corporations, etc. Details of membership expenses and burden charges to be borne in order to be allocated to management expenses, operating expenses, etc.

N/A

N/A

Details of receivables and payables to relevant public interest corporations

Accounts payable: 15,211,225 yen

Accounts payable: 266,000 yen

Details of debt guarantee

N/A

N/A

Amounts and ratios in relation to operating revenues, order placement by JICA, etc. (amounts and ratios of competitive contracts, planning competitions and public selections, and non-competitive negotiated contracts)

Total operating revenues:

89,361,261 yen

Total operating revenues:

41,912,557 yen

(Breakdown: JICA transactions,

77,788,426 yen

87.0

%)

(Breakdown: JICA transactions,

31,076,359 yen

74.1

%)

Competitive contract

(

75,810,179 yen

97.5

%)

Competitive contract

(

0 yen

0.0

%)

Planning competition and public selection

(

0 yen

0.0

%)

Planning competition and public selection

(

25,456,563 yen

81.9

%)

Non-competitive negotiated contracts

(

1,978,247 yen

2.5

%)

Non-competitive negotiated contracts

(

5,619,796 yen

18.1

%)

(Note)   Pursuant to “Accounting Standards for Public-interest Corporations”, the entity is not legally required to create a statement of revenues and expenses; hence, such statement is not prepared.

(Note 1)  The above amount pertains to the period from April 1, 2017, through March 31, 2018. (Note 2)  Pursuant to “Accounting Standards for Public-interest Corporations”, the entity is not legally required to create a statement of revenues and expenses.

F-33

Corporation type and name

(Relevant public interest corporations, etc.)

(Relevant public interest corporations, etc.)

Items

Overseas Vocational Training Association

Foundation for Advanced Studies on International Development

Outline of operations

(1)  Capacity building of necessary personnel for the planning and promotion of overseas vocational training (2)  Undertaking of necessary international cooperation such as guidance and advice regarding establishment and operation of training institutions for the planning and promotion of overseas vocational training (3)  Development and providing of necessary training material and methodology for the planning and promotion of overseas vocational training (4)  Gathering and providing necessary information and material for the planning and promoting of overseas vocational training (5)  Assisting the training for foreign trainees in Japan (6)  Promotion of exchange between foreign trainees and Japanese local communities and families (7)  Other activities necessary to fulfill the aims of this organization

(1)  Cultivation of human resources for international development (2)  Research and surveys for international development and assistance policy (3)  Cooperation for advanced studies regarding international development (4)  Technical cooperation projects overseas (5)  Cooperation for private-sector business activities contributing to international development (6)  Dissemination of information, edification, and publicity regarding international development (7)  Activities in Japan drawing on insights from aforementioned activities (8)  Other activities necessary to fulfill the aims of this foundation

Name of officers

Number of officers: 8 President: Mitsuru Kato

Number of officers: 6 President: Tsuneo Sugishita

Association chart on transactions between relevant public interest corporations and JICA

Overseas Vocational Training Association

Foundation for Advanced Studies on International Development

JICA

JICA

(Operation Consignment)

(Operation Consignment)

Assets

225,092,519 yen

892,026,622 yen

Liabilities

19,597,172 yen

182,670,729 yen

(Statement of changes in net assets)

Balance of net assets at the beginning of the business year

237,714,971 yen

714,898,133 yen

Changes in general net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

0 yen

- Subsidy received, etc.

1,000,000 yen

- Other revenues

- Other revenues

173,913,927 yen

- Other revenues

281,144,611 yen

¡   Expenses

¡   Expenses

206,133,551 yen

¡   Expenses

287,686,851 yen

Changes in specified net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

0 yen

- Subsidy received, etc.

0 yen

- Other revenues

- Other revenues

0 yen

- Other revenues

0 yen

¡   Expenses

¡   Expenses

0 yen

¡   Expenses

0 yen

Balance of net assets at the end of the business year

205,495,347 yen

709,355,893 yen

(Statement of activities)

Balance of net assets at the beginning of the business year

-

-

Total revenues for the current period

-

-

Total expenditures for the current period

-

-

Balance of net assets at the end of the business year

-

-

Details of contributions and donations to basic funds of relevant public interest corporations, etc. Details of membership expenses and burden charges to be borne in order to be allocated to management expenses, operating expenses, etc.

N/A

N/A

Details of receivables and payables to relevant public interest corporations

Accounts payable: 66,222,048 yen

Accounts payable: 68,657,296 yen

Details of debt guarantee

N/A

N/A

Amounts and ratios in relation to operating revenues, order placement by JICA, etc. (amounts and ratios of competitive contracts, planning competitions and public selections, and non-competitive negotiated contracts)

Total operating revenues:

172,592,566 yen

Total operating revenues:

273,597,994 yen

(Breakdown: JICA transactions,

122,950,566 yen

71.2

%)

(Breakdown: JICA transactions,

224,115,123 yen

81.9

%)

Competitive contract

(

0 yen

0.0

%)

Competitive contract

(

5,100,498 yen

2.3

%)

Planning competition and public selection

(

121,189,043 yen

98.6

%)

Planning competition and public selection

(

219,014,625 yen

97.7

%)

Non-competitive negotiated contracts

(

1,761,523 yen

1.4

%)

Non-competitive negotiated contracts

(

0 yen

0.0

%)

(Note 1)  The above amount pertains to the period from April 1, 2017, through March 31, 2018.

(Note 1)  The above amount pertains to the period from April 1, 2017, through March 31, 2018.

(Note 2)  Pursuant to “Accounting Standards for Public-interest Corporations”, the entity is not legally required to create a statement of revenues and expenses; hence, such statement is not prepared.

(Note 2)  Pursuant to “Accounting Standards for Public-interest Corporations”, the entity is not legally required to create a statement of revenues and expenses; hence, such statement is not prepared.

F-34

Corporation type and name

(Relevant public interest corporations, etc.)

(Relevant public interest corporations, etc.)

Items

The Overseas Coastal Area Development Institute of Japan

Okinawa Environment Club

Outline of operations

(1)  Research and studies for projects ①  Research and studies on global coastal area development and international logistics ②  Cooperative projects related to coastal development and logistics overseas (2)  International cooperation support activities ①  Transfer of Japanese technology concerning coastal development and logistics ②  Gathering and analyzing information on global coastal development and international logistics (3)  International exchange and publicity ①  Promotion of international relations with overseas researchers and experts on coastal development and logistics ②  Organizing of study sessions and lectures and publications on global coastal development and international logistics ③  Joint research on global coastal development and international logistics with domestic and overseas institutions (4)  Other activities necessary for fulfilling the aims of the Center

(1)  Conservation of regional nature and environment (2)  Promotion of environmental education (3)  Community development making use of natural and environmental features (4)  Necessary research and studies; gathering and providing of information (5)  Publication of newsletters, etc.

Name of officers

Number of officers: 9 Chairman: Shoji Muneoka

Number of officers: 7 President: Kuniki Shimoji

Association chart on transactions between relevant public interest corporations and JICA

The Overseas Coastal Area Development Institute of Japan

Okinawa Environment Club

JICA

JICA

(Operation Consignment)

(Operation Consignment)

Assets

1,760,712,709 yen

26,063,436 yen

Liabilities

134,471,252 yen

9,048,940 yen

(Statement of changes in net assets)

Balance of net assets at the beginning of the business year

1,507,759,472 yen

-

Changes in general net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

0 yen

- Subsidy received, etc.

-

- Other revenues

- Other revenues

800,360,527 yen

- Other revenues

-

¡   Expenses

¡   Expenses

681,878,542 yen

¡   Expenses

-

Changes in specified net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

0 yen

- Subsidy received, etc.

-

- Other revenues

- Other revenues

0 yen

- Other revenues

-

¡   Expenses

¡   Expenses

0 yen

¡   Expenses

-

Balance of net assets at the end of the business year

1,626,241,457 yen

-

(Statement of activities)

Balance of net assets at the beginning of the business year

-

15,902,355 yen

Total revenues for the current period

-

41,361,493 yen

Total expenditures for the current period

-

40,249,352 yen

Balance of net assets at the end of the business year

-

17,014,496 yen

Details of contributions and donations to basic funds of relevant public interest corporations, etc. Details of membership expenses and burden charges to be borne in order to be allocated to management expenses, operating expenses, etc.

N/A

N/A

Details of receivables and payables to relevant public interest corporations

Accounts payable: 59,777,354 yen

N/A

Details of debt guarantee

N/A

N/A

Amounts and ratios in relation to operating revenues, order placement by JICA, etc. (amounts and ratios of competitive contracts, planning competitions and public selections, and non-competitive negotiated contracts)

Total operating revenues:

784,196,074 yen

Total operating revenues:

41,259,832 yen

(Breakdown: JICA transactions,

362,931,315 yen

46.3

%)

(Breakdown: JICA transactions,

40,342,790 yen

97.8

%)

Competitive contract

(

0 yen

0.0

%)

Competitive contract

(

0 yen

0.0

%)

Planning competition and public selection

(

337,264,035 yen

92.9

%)

Planning competition and public selection

(

40,342,790 yen

100.0

%)

Non-competitive negotiated contracts

(

25,667,280 yen

7.1

%)

Non-competitive negotiated contracts

(

0 yen

0.0

%)

(Note)   Pursuant to “Accounting Standards for Public-interest Corporations”, the entity is not legally required to create a statement of revenues and expenses; hence, such statement is not prepared.

(Note 1)  The above amount pertains to the period from April 1, 2017, through March 31, 2018. (Note 2)  Pursuant to “the Amendment Act to Promote Specified Nonprofit Activities (established as Act No. 70 of 2011) (“the Act to Promote Specified Nonprofit Activities” hereinafter)”, the statement of activities is prepared.

F-35

Corporation type and name

(Relevant public interest corporations, etc.)

(Relevant public interest corporations, etc.)

Items

Non-profit Organization Kyushu International Cooperative Association, Japan

International Farmers Participation Technical Net-work

Outline of operations

(1)  Activities to provide advice to overseas volunteer undertaking, such as government development assistance activities, support for research, studies and evaluation, and cooperation (2)  Activities including international exchange by municipalities and various organizations, planning for international cooperation undertaking, and support and cooperation for research and studies (3)  Organizing training and lectures, etc., to promote self-development of young people through international understanding and publicity (4)  Activities to promote international cooperation through personnel exchange and cultural and technical assistance with regional communities of developing nations, etc. (5)  Activities to help returnees of overseas cooperation volunteers find jobs, with a view to disseminating volunteer experiences throughout society (6)  Activities for sales and providing information regarding goods and publications for promotion of the activities

(1)   Activities regarding international cooperation 1.   As support for small-scale farmers, development of appropriate technologies regarding upland crop, rice cultivation, vegetable cultivation, improvement of agricultural instruments, and irrigation 2.   Gathering and providing information on agricultural technology for small-scale farmers 3.   Survey of situations of local agriculture, and research and development for appropriate technologies 4.   Capacity building of local residents and technological support 5.   Training in Japan as well as at operation site 6.   Support through dispatching experts (2)   Activities related to revitalization of economic activities 1.   Cooperation for participatory rural development through appropriate agricultural technology 2.   Cooperation for farmers to participate in local agricultural cooperatives, etc. 3.   Cooperation for training of appropriate agricultural technology for local farmers (3)   Activities related to promotion of learning 1.   Development, research, and study of appropriate technology for local small-scale farmers 2.   Exchange with Japanese farmers, students and experts engaging in international cooperation 3.   Support and cooperation to universities and research institutions

Name of officers

Number of officers: 18 President (Chairperson): Akinobu Yumiba Board member: Masato Hanada (Former Director General of the Nihonmatsu Training Center of JICA)

Number of officers: 7 President: Hai Sakurai Director: Kazuo Nagai (Former Director General of the Tsukuba Center of JICA) Director: Yoshiaki Kono (Former Director General of the Tokyo Center of JICA) Director: Yoshihiko Nishimura (Former Deputy Director of the Tsukuba Center of JICA)

Association chart on transactions between relevant public interest corporations and JICA

Non-profit Organization Kyushu International Cooperative Association

International Farmers Participation Technical Net-work

JICA

JICA

(Operation Consignment)

(Operation Consignment)

Assets

27,367,168 yen

23,526,945 yen

Liabilities

4,833,696 yen

10,217,246 yen

(Statement of changes in net assets)

Balance of net assets at the beginning of the business year

-

��

-

Changes in general net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

-

- Subsidy received, etc.

-

- Other revenues

- Other revenues

-

- Other revenues

-

¡   Expenses

¡   Expenses

-

¡   Expenses

-

Changes in specified net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

-

- Subsidy received, etc.

-

- Other revenues

- Other revenues

-

- Other revenues

-

¡   Expenses

¡   Expenses

-

¡   Expenses

-

Balance of net assets at the end of the business year

-

-

(Statement of activities)

Balance of net assets at the beginning of the business year

23,241,730 yen

19,603,541 yen

Total revenues for the current period

36,847,586 yen

62,702,320 yen

Total expenditures for the current period

37,555,844 yen

68,986,162 yen

Balance of net assets at the end of the business year

22,533,472 yen

13,319,699 yen

Details of contributions and donations to basic funds of relevant public interest corporations, etc. Details of membership expenses and burden charges to be borne in order to be allocated to management expenses, operating expenses, etc.

N/A

N/A

Details of receivables and payables to relevant public interest corporations

Accounts payable: 5,081,450 yen

Accounts receivable: 59,389 yen

Details of debt guarantee

N/A

N/A

Amounts and ratios in relation to operating revenues, order placement by JICA, etc. (amounts and ratios of competitive contracts, planning competitions and public selections, and non-competitive negotiated contracts)

Total operating revenues:

35,248,162 yen

Total operating revenues:

62,584,959 yen

(Breakdown: JICA transactions,

31,430,700 yen

89.2

%)

(Breakdown: JICA transactions,

62,319,262 yen

99.6

%)

Competitive contract

(

21,024,371 yen

66.9

%)

Competitive contract

(

0 yen

0.0

%)

Planning competition and public selection

(

10,406,329 yen

33.1

%)

Planning competition and public selection

(

62,319,262 yen

100.0

%)

Non-competitive negotiated contracts

(

0 yen

0.0

%)

Non-competitive negotiated contracts

(

0 yen

0.0

%)

(Note)   Pursuant to “the Act to Promote Specified Nonprofit Activities”, the statement of activities is prepared.

(Note)   Pursuant to “the Act to Promote Specified Nonprofit Activities”, the statement of activities is prepared.

F-36

Corporation type and name

(Relevant public interest corporations, etc.)

(Relevant public interest corporations, etc.)

Items

Nonprofit Organization Institute of the Solar Boat

Japan National Assembly of Disabled Peoples’ International

Outline of operations

(1)  Conservation and restoration activities of cultural properties (2)  Research and study regarding cultural properties (3)  Gathering and providing of information regarding cultural properties

(1)  Proposal of disability policies (2)  Research and study of disability policies (3)  Public relation and awareness on persons with disabilities (4)  Promotion of participation of persons with disabilities (5)  Advocacy for persons with disabilities (6)  International cooperation on persons with disabilities

Name of officers

Number of officers: 12 Director: Sakuji Yoshimura

Number of officers: 27 Chairperson: Midori Hirano

Association chart on transactions between relevant public interest corporations and JICA

Nonprofit Organization Institute of the Solar Boat

Japan National Assembly of Disabled Peoples’ International

JICA

JICA

(Operation Consignment)

(Operation Consignment)

Assets

30,345,536 yen

46,615,444 yen

Liabilities

8,918,378 yen

4,257,825 yen

(Statement of changes in net assets)

Balance of net assets at the beginning of the business year

-

-

Changes in general net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

-

- Subsidy received, etc.

-

- Other revenues

- Other revenues

-

- Other revenues

-

¡   Expenses

¡   Expenses

-

¡   Expenses

-

Changes in specified net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

-

- Subsidy received, etc.

-

- Other revenues

- Other revenues

-

- Other revenues

-

¡   Expenses

¡   Expenses

-

¡   Expenses

-

Balance of net assets at the end of the business year

-

-

(Statement of activities)

Balance of net assets at the beginning of the business year

(4,206,739) yen

45,255,033 yen

Total revenues for the current period

77,563,864 yen

77,018,509 yen

Total expenditures for the current period

51,929,967 yen

79,915,923 yen

Balance of net assets at the end of the business year

21,427,158 yen

42,357,619 yen

Details of contributions and donations to basic funds of relevant public interest corporations, etc. Details of membership expenses and burden charges to be borne in order to be allocated to management expenses, operating expenses, etc.

N/A

N/A

Details of receivables and payables to relevant public interest corporations

Accounts payable: 8,195,598 yen

N/A

Details of debt guarantee

N/A

N/A

Amounts and ratios in relation to operating revenues, order placement by JICA, etc. (amounts and ratios of competitive contracts, planning competitions and public selections, and non-competitive negotiated contracts)

Total operating revenues:

43,497,112 yen

Total operating revenues:

47,134,962 yen

(Breakdown: JICA transactions,

33,516,929 yen

77.1

%)

(Breakdown: JICA transactions,

24,474,718  yen

51.9

%)

Competitive contract

(

0 yen

0.0

%)

Competitive contract

(

0  yen

0.0

%)

Planning competition and public selection

(

0 yen

0.0

%)

Planning competition and public selection

(

12,974,000  yen

53.0

%)

Non-competitive negotiated contracts

(

33,516,929 yen

100.0

%)

Non-competitive negotiated contracts

(

11,500,718  yen

47.0

%)

(Note 1)  The above amount pertains to the period from April 1, 2017, through March 31, 2018. (Note 2)  Pursuant to “the Act to Promote Specified Nonprofit Activities”, an statement of activities is prepared.

(Note 1)  The above amount pertains to the period from April 1, 2017, through March 31, 2018. (Note 2)  Pursuant to “the Act to Promote Specified Nonprofit Activities”, an statement of activities is prepared.

F-37

Corporation type and name

(Relevant public interest corporations, etc.)

(Relevant public interest corporations, etc.)

Items

MuranoMirai

Lequio Wings

Outline of operations

(1)  Activities regarding community development and support for community sustainability (2)  Activities related to capacity building and receiving trainees (3)  Activities related to research and studies (4)  Activities related to promotion of international understanding and edification (5)  Activities related to support of community promotion (6)  Other activities necessary for fulfilling the aims of this organization

(1)  International cooperation activities (2)  International exchange activities (3)  Activities regarding to capacity building (4)  Activities regarding culture, sports, education, and academic exchange (5)  Activities regarding promotion of communities in Okinawa (6)  Support for the socially vulnerable and activities to promote peace (7)  Other activities necessary for fulfilling the aims of this organization

Name of officers

Number of officers: 9 Representative director: Toyokazu Nakata

Number of officers: 6 Exective director: Chochu Awa

Association chart on transactions between relevant public interest corporations and JICA

Mura no Mirai

Lequio Wings

JICA

JICA

(Operation Consignment)

(Operation Consignment)

Assets

10,559,303 yen

21,400,216 yen

Liabilities

7,236,625 yen

2,656,592 yen

(Statement of changes in net assets)

Balance of net assets at the beginning of the business year

-

-

Changes in general net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

-

- Subsidy received, etc.

-

- Other revenues

- Other revenues

-

- Other revenues

-

¡   Expenses

¡   Expenses

-

¡   Expenses

-

Changes in specified net assets

¡   Revenues

¡   Revenues

¡   Revenues

- Subsidy received, etc.

- Subsidy received, etc.

-

- Subsidy received, etc.

-

- Other revenues

- Other revenues

-

- Other revenues

-

¡   Expenses

¡   Expenses

-

¡   Expenses

-

Balance of net assets at the end of the business year

-

-

(Statement of activities)

Balance of net assets at the beginning of the business year

1,568,933 yen

17,929,133 yen

Total revenues for the current period

44,557,963 yen

58,207,575 yen

Total expenditures for the current period

42,804,218 yen

57,393,083 yen

Balance of net assets at the end of the business year

3,322,678 yen

18,743,624 yen

Details of contributions and donations to basic funds of relevant public interest corporations, etc. Details of membership expenses and burden charges to be borne in order to be allocated to management expenses, operating expenses, etc.

N/A

N/A

Details of receivables and payables to relevant public interest corporations

Accounts payable: 172,260 yen

N/A

Details of debt guarantee

N/A

N/A

Amounts and ratios in relation to operating revenues, order placement by JICA, etc. (amounts and ratios of competitive contracts, planning competitions and public selections, and non-competitive negotiated contracts)

Total operating revenues:

35,922,698 yen

Total operating revenues:

57,025,200 yen

(Breakdown: JICA transactions,

25,274,069 yen

70.4

%)

(Breakdown: JICA transactions,

30,860,697 yen

54.1

%)

Competitive contract

(

0 yen

0.0

%)

Competitive contract

(

0 yen

0.0

%)

Planning competition and public selection

(

25,274,069 yen

100.0

%)

Planning competition and public selection

(

27,454,155 yen

89.0

%)

Non-competitive negotiated contracts

(

0 yen

0.0

%)

Non-competitive negotiated contracts

(

3,406,542 yen

11.0

%)

(Note 1)  The above amount pertains to the period from April 1, 2017, through March 31, 2018. (Note 2)  Pursuant to “the Act to Promote Specified Nonprofit Activities”, the statement of activities is prepared.

(Note)   Pursuant to “the Act to Promote Specified Nonprofit Activities”, the statement of activities is prepared.

F-38

Independent Auditor’s Report

Mr. Shinichi Kitaoka, President

Japan International Cooperation Agency

We have audited the accompanying financial statements of the finance and investment account of Japan International Cooperation Agency, which comprise the balance sheet as at March 31, 2019, and the statement of income, cash flows, and of administrative service operation cost for the year then ended, and a summary of significant accounting policies and other explanatory information, and the accompanying supplementary schedules (except for the information described based on the financial statements and business reports relating to the affiliated companies).

President’s Responsibility for the Financial Statements

President is responsible for the preparation and fair presentation of these financial statements in accordance with accounting standards for incorporated administrative agencies generally accepted in Japan, and for designing and operating such internal control as president determines is necessary to enable the preparation and fair presentation of the financial statements that are free from material misstatement, whether due to fraud or error, or illegal acts.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards for incorporated administrative agencies generally accepted in Japan. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. The audit was planned with adequate attention being paid to the possibility that any fraud or error, or illegal acts, of the president, other executive officers or staff members may result in material misstatement in the financial statements.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error, or illegal acts. The purpose of an audit of the financial statements is not to express an opinion on the effectiveness of the entity’s internal control, but in making these risk assessments the auditor considers internal controls relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by president, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. The basis includes the fact that no such fraud or error, or illegal acts, of the president, other executive officers or staff members that would result in material misstatement in the financial statements was found, to the extent that we conducted our audit. The audit we conducted is not intended to express an opinion on whether there was any fraud or error, or illegal acts, of the president, other executive officers or staff members, which would not result in material misstatement in the financial statements.

Opinion

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Japan International Cooperation Agency’s finance and investment account as at March 31, 2019, and financial performance, cash flows and administrative service operation cost for the year then ended in conformity with accounting standards for incorporated administrative agencies generally accepted in Japan.

/s/ Ernst & Young ShinNihon LLC

June 25, 2019

Tokyo, Japan

F-39

Balance Sheet

(as of March 31, 2019)

Finance and Investment Account				(Unit: Yen)
Assets
I      Current assets
Cash and deposits		323,389,535,964
Loans	12,300,293,753,275
Allowance for loan losses	(165,843,939,511)	12,134,449,813,764
Advance payments		19,217,206,932
Prepaid expenses		28,754,538
Accrued income
Accrued interest on loans	27,224,111,962
Accrued commitment charges	490,244,867
Accrued interest	288,490,195	28,002,847,024
Accounts receivable		972,797,386
Goods in transit		61,489,214
Suspense payments		4,609,752
Advances paid		226,517
Short-term guarantee deposits		14,163,000,000
Total current assets			12,520,290,281,091
II     Non-current assets
1    Tangible assets
Buildings	3,826,863,952
Accumulated depreciation	(1,125,530,122)
Accumulated impairment loss	(664,850,656)	2,036,483,174
Structures	96,276,953
Accumulated depreciation	(24,819,379)
Accumulated impairment loss	(11,670,468)	59,787,106
Machinery and equipment	198,236,887
Accumulated depreciation	(72,322,713)
Accumulated impairment loss	(102,287,680)	23,626,494
Vehicles	497,346,429
Accumulated depreciation	(234,280,903)	263,065,526
Tools, furniture, and fixtures	791,126,991
Accumulated depreciation	(385,826,143)	405,300,848
Land	12,703,270,000
Accumulated impairment loss	(6,091,196,973)	6,612,073,027
Construction in progress		31,056,281
Total tangible assets		9,431,392,456
2     Intangible assets
Trademark rights		300,181
Software		4,907,037,334
Software in progress		850,163,665
Total intangible assets		5,757,501,180
3     Investments and other assets
Investment securities		6,032,684,551
Shares of affiliated companies		44,100,488,390
Money held in trust		40,809,126,607
Claims probable in bankruptcy, claims probable in rehabilitation, and other	87,062,884,239
Allowance for loan losses	(83,193,460,691)	3,869,423,548
Long-term prepaid expenses		5,048,373
Long-term guarantee deposits		633,428,168
Total investments and other assets		95,450,199,637
Total non-current assets			110,639,093,273
Total assets				12,630,929,374,364

F-40

Balance Sheet (Continued)

(as of March 31, 2019)

				(Unit: Yen)
Liabilities
I       Current liabilities
Current portion of bonds		67,305,000,000
Current portion of borrowings from government fund for Fiscal Investment and Loan Program		138,031,638,000
Accounts payable		8,077,765,395
Accrued expenses		6,847,088,694
Derivatives		13,983,823,851
Lease obligations		152,720,741
Deposits received		2,106,447,142
Unearned revenue		17,026,561
Provisions
Provision for bonuses	323,356,434
Provision for contingent losses	9,285,616,775	9,608,973,209
Suspense receipt		10,902,221
Total current liabilities			246,141,385,814
II     Non-current liabilities
Bonds		733,298,700,000
Discounts on bonds payable		(423,973,281)
Borrowings from government fund for Fiscal Investment and Loan Program		1,899,402,358,000
Long-term lease obligations		180,694,989
Long-term deposits received		4,736,931,345
Provision for retirement benefits		4,193,428,379
Asset retirement obligations		70,374,150
Total non-current liabilities			2,641,458,513,582
Total liabilities				2,887,599,899,396
Net assets
I       Capital
Government investment		8,083,417,840,510
Total capital			8,083,417,840,510
II     Retained earnings
Reserve fund		1,626,109,623,623
Unappropriated income for the current business year		77,771,371,834
[Total income for the current business year]		[77,771,371,834]
Total retained earnings			1,703,880,995,457
III   Valuation and translation adjustments
Valuation difference on available-for-sale securities		3,390,920,585
Deferred gains or losses on hedges		(47,360,281,584)
Total valuation and translation adjustments			(43,969,360,999)
Total net assets				9,743,329,474,968
Total liabilities and net assets				12,630,929,374,364

F-41

Statement of Income

(April 1, 2018–March 31, 2019)

Finance and Investment Account
			(Unit: Yen)
Ordinary expenses
Expenses related to operations of cooperation through finance and investment
Interest on bonds and notes	9,330,881,687
Interest on borrowings	16,540,545,246
Interest on interest rate swaps	6,719,665,456
Other interest expenses	1,943,533
Operations consignment expenses	33,864,938,432
Bond issuance cost	566,720,521
Foreign exchange losses	1,200,366,022
Personnel expenses	4,155,945,261
Provision for bonuses	323,356,434
Retirement benefit expenses	390,402,055
Operating and administrative expenses	13,621,070,762
Depreciation	1,341,484,619
Taxes	91,813,100
Provision for allowance for loan losses	1,778,895,349
Other operating expenses	17,248,076
Other ordinary expenses	90,815	89,945,367,368
Total ordinary expenses				89,945,367,368
Ordinary revenues
Revenues from operations of cooperation through finance and investment
Interest on loans	138,201,287,714
Interest on bonds	70,042
Dividends on investments	20,872,069,547
Commissions	2,339,200,249
Gain on valuation of investment securities	322,863,684
Gain on valuation of shares of affiliated companies	554,741,951
Gain on investment in money held in trust	2,342,804,662
Reversal of provision for allowance for contingent losses	1,312,732,880	165,945,770,729
Financial revenues
Interest income	782,463,610	782,463,610
Miscellaneous income		973,104,990
Recoveries of written-off claims		19,878,116
Total ordinary revenues				167,721,217,445
Ordinary income				77,775,850,077
Extraordinary losses
Loss on disposal of non-current assets		6,169,522
Loss on sales of non-current assets		123,886		6,293,408
Extraordinary income
Gain on sales of non-current assets		1,815,165		1,815,165
Net income				77,771,371,834
Total income for the current business year				77,771,371,834

F-42

Statement of Cash Flows

(April 1, 2018–March 31, 2019)

Finance and Investment Account

	(Unit: Yen)
I   Cash flows from operating activities
Payments for loans		(1,079,145,473,162	)
Repayments of borrowings from government fund for Fiscal Investment and Loan Program		(206,179,140,000	)
Redemption of bonds		(20,000,000,000	)
Interest expenses paid		(29,015,056,842	)
Payments for personnel expenses		(4,854,339,851	)
Payments for other operations		(68,334,203,202	)
Proceeds from collection of loans		789,221,530,764
Proceeds from borrowings from government fund for Fiscal Investment and Loan Program		332,100,000,000
Proceeds from issuance of bonds		113,966,479,479
Proceeds from interest on loans		135,395,637,214
Proceeds from commissions		2,949,522,803
Proceeds from other operations		34,747,143,757
Subtotal		852,100,960
Interest and dividend income received		21,365,442,780
Net cash provided by operating activities		22,217,543,740
II   Cash flows from investing activities
Payments for purchase of non-current assets		(2,332,983,396	)
Proceeds from sales of non-current assets		16,321,367
Payments for purchase of investment securities		(402,628,274	)
Proceeds from sales and redemption of investment securities		1,477,836,746
Payments for increase of money held in trust		(5,538,950,000	)
Payments into time deposits		(61,198,900,000	)
Proceeds from time deposit refund		49,454,340,000
Payments for purchase of negotiable deposits		(42,300,000,000	)
Proceeds from refund of negotiable deposits		47,300,000,000
Net cash used in investing activities		(13,524,963,557	)
III   Cash flows from financing activities
Repayments of lease obligations		(161,508,185	)
Receipt of government investment		46,010,000,000
Net cash provided by financing activities		45,848,491,815
IV   Effect of exchange rate fluctuation on funds		1,122,340,271
V  Net increase (decrease) in funds		55,663,412,269
VI   Funds at the beginning of the business year		248,954,213,695
VII   Funds at the end of the business year		304,617,625,964

F-43

Statement of Administrative Service Operation Cost

(April 1, 2018–March 31, 2019)

Finance and Investment Account

				(Unit: Yen)
I   Operating expenses
(1) Expenses in the statement of income
Expenses related to operations of cooperation through finance and investment	89,945,367,368
Loss on disposal of non-current assets	6,169,522
Loss on sales of non-current assets	123,886	89,951,660,776
(2) (Deduction) Self-revenues, etc.
Revenues from operations of cooperation through finance and investment	(165,945,770,729)
Financial revenues	(782,463,610)
Miscellaneous income	(973,104,990)
Recoveries of written-off claims	(19,878,116)
Gain on sales of non-current assets	(1,815,165)	(167,723,032,610)
Total operating expenses					(77,771,371,834)
II   Estimated increase in retirement benefits not included in provision					5,434,446
III   Opportunity cost
Opportunity cost of government investment					0
IV   Administrative service operation cost					(77,765,937,388)

F-44

Basis of Presenting Financial Statements

The accompanying financial statements of JICA have been prepared in accordance with accounting principles for incorporated administrative agencies generally accepted in Japan, which are different in many respects as to application and disclosure requirements of accounting principles for business enterprises generally accepted in Japan.

Significant Accounting Policies

Finance and Investment Account

1. Depreciation method

(1) Tangible assets (except for lease assets)

Straight-line method

The useful lives of major assets are as follows:

Buildings:	2–50 years
Structures:	2–46 years
Machinery and equipment:	2–17 years
Vehicles:	2–6 years
Tools, furniture, and fixtures:	2–15 years

(2) Intangible assets (except for lease assets)

Straight-line method

Software used by JICA is depreciated over its useful life (5 years).

(3) Lease assets

Lease assets are depreciated by the straight-line method over the lease term. Depreciation for lease assets is calculated with zero residual value being assigned to the asset.

2. Provision for bonuses

The provision for bonuses is calculated and provided for based on estimated amounts of future payments attributable to the services that have been rendered by officers and employees applicable to the current business year.

3. Provision for retirement benefits

The provision for retirement benefits is calculated and provided for based on estimated amounts of future payments attributable to the retirement of employees, and is accrued in line with the retirement benefit obligations and estimated plan assets applicable to the business year ended March 31, 2019. In calculating the retirement benefit obligations, the estimated amount of retirement benefit payments is attributed to the period based on the straight-line basis. The profit and loss appropriation method for actuarial differences and past service costs are presented as follows:

Actuarial differences are recognized as a lump-sum gain or loss in the business year in which they occur.

Past service costs are recognized as a lump-sum gain or loss in the business year in which they occur.

The estimated increase in retirement benefits not included in the provision in the statement of administrative service operation cost is reported as the current business year increase in the provision for retirement benefits regarding retirement benefits, calculated according to the Accounting Standard for Incorporated Administrative Agency No. 38.

F-45

4. Basis and standard for the accrual of allowance and loss contingencies

(1) Allowance for loan losses

The allowance for claims on debtors who are legally bankrupt (“Bankrupt borrowers”) or substantially bankrupt (“Substantially bankrupt borrowers”) is provided based on the outstanding balance of loan claims after the deductions of the amount expected to be collected through the disposal of collateral and execution of guarantees, or the same amount is written off directly. The allowance for claims on debtors who are not legally bankrupt, but are likely to become bankrupt (“Potentially bankrupt borrowers”) is provided based on an overall assessment of the solvency of the debtors after the deductions of the amount expected to be collected through the disposal of collateral and the execution of guarantees, or the same amount is written off directly. There were no write-offs from the above-mentioned outstanding balance of loan claims for the business year 2018.

The allowance for claims on debtors other than Bankrupt borrowers, Substantially bankrupt borrowers, and Potentially bankrupt borrowers is provided primarily based on the default rate, which is calculated based on the actual defaults during a certain period in the past. The allowance for possible losses on specific overseas loans is provided based on the expected loss amount taking into consideration the political and economic situation of these countries.

All claims are assessed initially by the operational departments (including regional departments) based on internal rules for self-assessment of asset quality. Internal audit department, which is independent from the operational departments, reviews these self-assessments, and an allowance is provided based on the results of the assessments.

(2) Provision for contingent losses

Provision for contingent losses is provided to prepare for the occurrence of contingent losses for a portion of the undisbursed balance of loan commitments, which JICA is absolutely obligated to extend. The amount of the provision is estimated based on the possibility of losses in the future.

5. Standard and method for the valuation of securities

(1) Shares of affiliated companies

Shares of affiliated companies are stated at cost, determined using the moving-average method.

However, when the amount corresponding to the equity holding has fallen below the cost at acquisition, the amount corresponding to the equity holding is used.

F-46

(2) Other investment securities

[1] Securities whose fair value can be readily determined

Such investment securities are stated at fair value.

[2] Securities whose fair value cannot be readily determined

Such investment securities are carried at cost based on the moving average method.

Investments in limited partnerships and other similar partnerships, which are regarded as securities under Article 2, Clause 2 of the Japanese Financial Instruments and Exchange Law, Act No. 25 of 1948, are recognized at an amount equivalent to JICA’s percentage share of the net assets of such partnerships, based upon the most recent financial statements available depending on the report date stipulated in the partnership agreement.

(3) Securities held as trust assets in money-held-in trust account

The securities are valued in the same way as (2) above.

6. Standard and method for the valuation of derivative transactions

All derivative financial instruments are carried at fair value.

7. Method for amortization of discount on bonds payable

Discount on bonds payable is amortized over the duration of the bonds.

8. Translation standard for foreign currency-denominated assets and liabilities into yen

Foreign currency money claims and liabilities are translated into Japanese yen mainly at the spot exchange rate at the balance sheet date. Exchange differences are recognized as profit or loss.

9. Method for computing opportunity cost in the statement of administrative service operation cost

Interest rate used to compute opportunity cost concerning government investment:

0% is applied in accordance with the administrative circular, “Method for Calculation of Opportunity Cost for Statement of Administrative Service Operation Cost and Others (Points to Consider)” issued by Administrative Management Bureau, Ministry of Internal Affairs and Communications, and Public Accounting Office, Legal Division, Budget Bureau, Japanese Ministry of Finance, on April 5, 2019.

10. Method of hedge accounting

(1) Method of hedge accounting

Interest rate swaps are accounted for using the deferral hedge accounting method or the exceptional accrual method. Currency swaps are accounted for by the assignment method. As for interest rate and currency swaps, the interest rate part is accounted for using the exceptional accrual method and the currency part is accounted for by the assignment method.

F-47

(2) Hedging instruments and hedged items

[1] Hedging instruments...Interest rate swaps

Hedged items...Loans and foreign currency bonds

[2] Hedging instruments...Currency swaps

Hedged items...Foreign currency loans and foreign currency bonds

[3] Hedging instruments...Interest rate and currency swaps

Hedged items...Foreign currency bonds

(3) Hedging policy

JICA enters into interest rate swaps, currency swaps, or interest rate and currency swaps for the purpose of hedging interest rate or currency fluctuation risks.

(4) Method of evaluation of hedge effectiveness

Hedges that offset market fluctuations of loans are assessed based on discrepancies with regard to maturity and notional principal and others between hedged loans and hedging instruments.

As for interest rate swaps that satisfy the requirements of the exceptional accrual method, currency swaps that satisfy the requirements of the assignment method, and interest rate and currency swaps that satisfy the requirements of the exceptional accrual method and the assignment method, JICA is not required to periodically evaluate hedge effectiveness.

11. Accounting treatment for consumption taxes

Consumption taxes and local consumption taxes are included in transaction amounts.

F-48

Notes to the financial statements

Finance and Investment Account

(Balance Sheet)

1. Joint obligations

JICA is jointly liable for obligations arising from the following bonds issued by the former Japan Bank for International Cooperation which was succeeded by the Japan Bank for International Cooperation:

Fiscal Investment and Loan Program (FILP) Agency Bonds ¥ 80,000,000,000

2. Undisbursed balance of loan commitments

Most of JICA’s loans are long term. Ordinarily, when receiving a request for disbursement of a loan from a borrower, corresponding to the intended use of funds as stipulated by the loan agreement, and upon confirming the fulfillment of conditions prescribed under the loan agreement, JICA promises to loan a certain amount of funds within a certain range of the amount required by the borrower, with an outstanding balance within the limit of loan commitments. The undisbursed balance of loan commitments as of March 31, 2019 was ¥6,979,297,838,887.

(Statement of Income)

1. Gain (loss) on valuation of investment securities and gain (loss) on valuation of shares of affiliated companies

Gain (loss) on valuation of investment securities and gain (loss) on valuation of shares of affiliated companies include gain and loss resulting from valuations, sales and liquidation of these securities.

2. Recoveries of written-off claims

Recoveries of written-off claims include the amount recovered in excess of book value of the loans transferred to JICA on October 1, 2008, that are associated with the Overseas Economic Cooperation Account of the former Japan Bank for International Cooperation.

(Statement of Cash Flows)

The funds shown in the statement of cash flows are deposit accounts and checking accounts.

1. Breakdown of balance sheet items and ending balance of funds

(as of March 31, 2019)

Cash and deposits	¥	323,389,535,964
Time deposits	¥	(18,771,910,000)
Ending balance of funds	¥	304,617,625,964

2. Description of significant non-cash transactions

Assets acquired under finance leases
Tools, furniture, and fixtures	¥84,028,703

F-49

(Statement of Administrative Service Operation Cost)

Number of public officers temporarily transferred to JICA and accounted for as opportunity cost Of the estimated increase in retirement benefits not included in the provision, ¥5,434,446 was recognized as the current-business-year increase of provision for retirement benefits for 32 public officers temporarily transferred to JICA according to JICA’s internal rules.

(Financial instruments)

1. Status of financial instruments

(1) Policy regarding financial instruments

The Finance and Investment Account undertakes financial cooperation operations by providing debt and equity financing. In undertaking these operations, it raises funds by borrowing from the Japanese Government under the FILP, borrowing from financial institutions, issuing bonds, and receiving capital investment from the Japanese Government. From the perspective of asset-liability management (ALM), derivative transactions are entered into for mitigating the adverse impact caused by interest rate and foreign exchange fluctuations.

(2) Details of financial instruments and related risks

The financial assets held in the Finance and Investment Account are loans mainly to the Developing Area, and are exposed to credit risk attributed to defaults by its borrowers and interest rate risk. Securities, investment securities, shares of affiliated companies and money held in trust are held for policy-oriented purposes, and are exposed to credit risk of issuers and others, interest rate risk, and market price volatility risk.

Borrowings and bonds are exposed to liquidity risk as their payments or repayments cannot be duly serviced in such a situation where the account is unable to have access to markets for certain reasons.

In addition to the above, foreign currency claims and liabilities are exposed to foreign exchange fluctuation risk.

(3) Risk management system for financial instruments

[1] Credit risk management

The Finance and Investment Account has established and operates a system for credit management. This system encompasses credit appraisal, credit limit setting, credit information monitoring, internal rating, guarantee and collateral setting, problem loan management, etc., in accordance with integrated risk management rules and various credit risk-monitoring rules. This credit management is carried out by the operational departments (including region department), in addition to the Credit Risk Analysis and Environmental Review Department and General Affairs Department. Additionally, the Risk Management Committee of the Finance and Investment Account and Board Meeting convene on a regular basis for the purpose of deliberating or reporting. Moreover, the Office of Audit monitors the status of credit management.

F-50

The credit risks of issuers of investment securities and shares of affiliated companies and trustees of money held in trust are monitored by the Private Sector Partnership and Finance Department, which regularly confirms their credit information, etc.

Counterparty risk in derivative transactions is monitored by regularly confirming the exposure and credit standing of counterparties and by securing collateral as necessary.

[2] Market risk management

(i) Interest rate risk management

Interest rates are determined in accordance with the methods prescribed by laws or statements of operational procedures. Interest rate swap transactions are conducted to hedge against the risk of interest rate fluctuations in light of their possible adverse impact.

(ii) Foreign exchange risk management

Foreign currency claims and liabilities are exposed to foreign exchange fluctuation risk; as such, foreign currency claims are funded by foreign currency liabilities, and currency swaps and other approaches are employed to avert or reduce foreign exchange risk.

(iii) Price volatility risk management

Stocks and other securities that are held for policy-oriented purposes are monitored for changes in value affected by the market environment or financial condition of the companies, exchange rates, and other factors.

This information is reported on a regular basis to the Risk Management Committee of the Finance and Investment Account and Board Meeting.

[3] Liquidity risk management related to fund raising

The Finance and Investment Account prepares a funding plan and executes fund raising based on the government-affiliated agencies’ budgets, as resolved by the National Diet of Japan.

[4] Derivative transaction management

Pursuant to rules concerning swaps, derivative transactions are implemented and managed by separating the sections related to execution of transactions, assessment of hedge effectiveness, and logistics management based on a mechanism with an established internal system of checks and balances.

2. Fair value of financial instruments

Balance sheet amount, fair value, and difference at the balance sheet date are as follows:

(Unit: Yen)

	Balance sheet amount	Fair value	Difference
(1) Loans	12,300,293,753,275
Allowance for loan losses	(165,843,939,511)
	12,134,449,813,764	12,627,093,315,211	492,643,501,447
(2) Investment securities
Other investment securities	3,268,019,029	3,268,019,029	0
(3) Claims probable in bankruptcy, claims probable in rehabilitation, and other	87,062,884,239
Allowance for loan losses	(83,193,460,691)
	3,869,423,548	3,869,423,548	0
(4) Borrowings from government fund for FILP (including borrowings due within one year)	(2,037,433,996,000)	(2,116,799,067,894)	(79,365,071,894)
(5) Bonds (including bonds due within one year)	(800,603,700,000)	(861,789,225,339)	(61,185,525,339)
(6) Derivative transactions
Derivative transactions not qualifying for hedge accounting	15,302,210	15,302,210	0
Derivative transactions qualifying for hedge accounting	(13,999,126,061)	(13,999,126,061)	0
	(13,983,823,851)	(13,983,823,851)	0

* Liabilities are shown in parentheses (    ).

F-51

(Note 1) Method for calculating fair values of financial instruments

[1] Loans

The fair values of loans with floating interest rates are calculated at their book values, as policy interest rates (bank rates) are immediately reflected in their floating interest rates, and therefore, fair value approximates book value. On the other hand, fair values of loans with fixed interest rates are calculated by discounting the total amount of the principal and interest using a rate that combines a risk-free rate with the respective borrowers’ credit risk. As for hedged loans for which the assignment method is applied, the fair value of such currency swaps is applied.

[2] Investment securities

The fair value of other investment securities is based on quoted market prices.

[3] Claims probable in bankruptcy, claims probable in rehabilitation, and other

Regarding claims probable in bankruptcy, claims probable in rehabilitation, and other, the estimated uncollectible amount is calculated based on the expected recoverable amount through collateral and guarantees. Therefore, fair value approximates the balance sheet amount, less the current estimated uncollectible amount, and hence is calculated accordingly.

[4] Borrowings from government fund for FILP (including borrowings due within one year)

The fair value of borrowings from government fund for FILP (including borrowings due within one year) is calculated by discounting the total amount of principal and interest using interest rates expected to be applied to new borrowings for the same total amount.

[5] Bonds (including bonds due within one year)

The fair value of bonds (including bonds due within one year) is determined using market observable prices if available. For bonds without market observable prices, the fair values are calculated by discounting contractual cash flows at the risk free rate. As for hedged bonds for which the exceptional accrual method and assignment method are applied, the fair value of such interest rate swaps and currency swaps is applied.

[6] Derivative transactions

Derivative transactions are interest rate-related transactions (interest rate swaps), and fair values are based on discounted present values. Interest rate swaps for which the exceptional accrual method is applied and currency swaps for which the assignment method is applied are accounted for together with the corresponding loan or bond. The fair value of these hedging instruments is included in the fair value of the underlying loans or bonds.

F-52

(Note 2) The following are financial instruments whose fair values are deemed to be extremely difficult to determine. They are not included in the fair value information of financial instruments.

	(Unit: Yen)
	Balance sheet amount
Investment securities*1	2,764,665,522
Shares of affiliated companies*1	44,100,488,390
Money held in trust*2	40,809,126,607
Undisbursed balance of loan commitments*3	0

*1 These financial instruments have no market prices, and the calculation of their fair values is deemed to be impractical.

*2 The money held in trust is composed of the assets in the trust for which it is difficult to determine the fair value.

*3 The fair values of the undisbursed balances of loan commitments are deemed to be extremely difficult to determine. The main reason is the difficulty of reasonably estimating future extensions of loans, because of the extremely diverse range of implementation formats for projects in the Developing Area where these loans are provided.

(Money held in trust)

1. Money held in trust for the purpose of investment

Not applicable.

2. Money held in trust for the purpose of investment and held-to-maturity

Not applicable.

3. Other (other than for the purpose of investment and held-to-maturity)

F-53

						(Unit: Yen)
	Balance sheet  amount	Acquisition  cost	��	Difference	The amount  by which the  balance sheet amount  exceeds the acquisition  cost	The amount by which  the balance sheet  amount does not exceed the  acquisition cost
Money held in trust for others	40,809,126,607	39,263,426,360		1,545,700,247	1,545,700,247	0

(Note) “The amount by which the balance sheet amount exceeds the acquisition cost” and “The amount by which the balance sheet amount does not exceed the acquisition cost” are the breakdown of “Difference”.

(Retirement benefits)

1. Overview of retirement benefit plans

To provide retirement benefits for employees, JICA has a defined benefit pension plan comprised of a defined benefit corporate pension plan and a lump-sum severance indemnity plan, and a defined contribution plan comprised of a defined contribution pension plan.

2. Defined benefit pension plan

(1) The changes in the retirement benefit obligation are as follows:

	(Unit: Yen)
Retirement benefit obligation at the beginning of the business year		6,399,990,809
Current service cost		277,876,495
Interest cost		34,930,905
Actuarial differences		340,366,114
Retirement benefit paid		(363,952,064)
Past service cost		(174,153,225)
Contribution by employees		16,871,392
Retirement benefit obligation at the end of the business year		6,531,930,426

(2) The changes in the plan assets are as follows:

	(Unit: Yen)
Plan assets at the beginning of the business year		2,196,961,474
Expected return on plan assets		46,031,574
Actuarial differences		55,358,975
Contribution by the company		112,599,812
Retirement benefit paid		(89,321,180)
Contribution by employees		16,871,392
Plan assets at the end of the business year		2,338,502,047

F-54

(3) Reconciliation of the retirement benefit obligations and plan assets and provision for retirement benefits and prepaid pension expenses in the balance sheets

	(Unit: Yen)
Funded retirement benefit obligation		2,867,189,145
Plan assets		(2,338,502,047)
Unfunded benefit obligations of funded pension plan		528,687,098
Unfunded benefit obligations of unfunded pension plan		3,664,741,281
Subtotal		4,193,428,379
Unrecognized actuarial differences		0
Unrecognized past service cost		0
Net amount of assets and liabilities in the balance sheets		4,193,428,379
Provision for retirement benefits		4,193,428,379
Prepaid pension expenses		0
Net amount of assets and liabilities in the balance sheets		4,193,428,379

(4) Components of retirement benefit expenses

	(Unit: Yen)
Current service cost		277,876,495
Interest cost		34,930,905
Expected return on plan assets		(46,031,574)
Realized actuarial differences		285,007,139
Amortization of past service cost		(174,153,225)
Extraordinary additional retirement payments		0
Total		377,629,740

(5) Major components of plan assets

Percentages of components to the total are as follows:

Bonds	37%
Stocks	35%
General account of life insurance company	19%
Others	9%
Total	100%

(6) Method of determining the long-term expected rate of return on plan assets

The long-term expected rate of return on plan assets is determined based on components of plan assets, its performance and market condition, etc.

(7) Assumptions used

Principal assumptions used in actuarial calculations at the end of the business year

Discount rate	Defined benefit corporate pension plan	0.23%
	Retirement benefits	0.74%
Long-term expected rate of return on plan assets		2.00%

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3. Defined contribution plan

The amount of contribution required to be made to the defined contribution plan is ¥12,772,315.

(Lease transactions)

Future minimum lease payments related to operating lease transactions

Future minimum lease payments due within one year of the balance sheet date	¥	2,855,504
Future minimum lease payments corresponding to periods more than one year from the balance sheet date	¥	506,872

(Asset retirement obligations)

JICA has a building lease agreement for its head office building, and has an obligation to restore the building to its original state at the termination of the lease period. Therefore, the asset retirement obligations have been recorded. The estimate for the asset retirement obligations assumes a five-year lease period for the projected period of use and a discount rate of 0.529%.

The balance of the asset retirement obligations at the end of the current business year was ¥70,374,150.

(Profit and loss under the equity method)

JICA does not have any specific affiliated companies and, as such, does not prepare consolidated financial statements. However, profit or loss under the equity method related to affiliated companies is as follows:

Investment amount in affiliated companies	¥44,100,488,390
Investment amount when applying the equity method	¥68,165,103,367
Valuation gain on investments when applying the equity method	¥32,321,816,781

(Significant contractual liabilities)

Contract liabilities JICA is obliged to pay during the next business year and thereafter are ¥12,836,429,702.

(Significant subsequent events)

Appropriation of profit was approved as follows on May 31, 2019:

			(Unit: Yen)
I.	Unappropriated income for the current business year			77,771,371,834
	Total income for the current business year	77,771,371,834
II.	Profit appropriation amount
	Reserve fund	77,771,371,834		77,771,371,834

F-56

The Accompanying Supplementary Schedules

Finance and Investment Account

(1) Details of acquisition and disposal of non-current assets, depreciation, and accumulated impairment loss

																									(Unit: Yen)
Type		Balance at the beginning of the period			Increase during the period			Decrease during the period		Balance at the end of the period			Accumulated depreciation				Accumulated impairment loss				Net assets at the end of the period			Remarks
															Depreciation during the period				Impairment loss during the period
Tangible assets (Depreciation included in expenses)	Buildings		3,249,058,595			584,646,570			6,841,213		3,826,863,952			1,125,530,122		91,968,006		664,850,656		0		2,036,483,174
	Structures		50,286,752			45,990,201			0		96,276,953			24,819,379		1,290,783		11,670,468		0		59,787,106
	Machinery and equipment		196,235,042			2,001,845			0		198,236,887			72,322,713		3,588,764		102,287,680		0		23,626,494
	Vehicles		399,196,099			119,907,180			21,756,850		497,346,429			234,280,903		43,549,090		0		0		263,065,526
	Tools, furniture, and fixtures		713,654,212			96,131,093			18,658,314		791,126,991			385,826,143		173,713,880		0		0		405,300,848
	Total		4,608,430,700			848,676,889			47,256,377		5,409,851,212			1,842,779,260		314,110,523		778,808,804		0		2,788,263,148
Tangible assets (Non-depreciable assets)	Land		12,703,270,000			0			0		12,703,270,000			0		0		6,091,196,973		0		6,612,073,027
	Construction in progress		30,170,571			238,065,871			237,180,161		31,056,281			0		0		0		0		31,056,281
	Total		12,733,440,571			238,065,871			237,180,161		12,734,326,281			0		0		6,091,196,973		0		6,643,129,308
Total tangible assets	Buildings		3,249,058,595			584,646,570			6,841,213		3,826,863,952			1,125,530,122		91,968,006		664,850,656		0		2,036,483,174
	Structures		50,286,752			45,990,201			0		96,276,953			24,819,379		1,290,783		11,670,468		0		59,787,106
	Machinery and equipment		196,235,042			2,001,845			0		198,236,887			72,322,713		3,588,764		102,287,680		0		23,626,494
	Vehicles		399,196,099			119,907,180			21,756,850		497,346,429			234,280,903		43,549,090		0		0		263,065,526
	Tools, furniture, and fixtures		713,654,212			96,131,093			18,658,314		791,126,991			385,826,143		173,713,880		0		0		405,300,848
	Land		12,703,270,000			0			0		12,703,270,000			0		0		6,091,196,973		0		6,612,073,027
	Construction in progress		30,170,571			238,065,871			237,180,161		31,056,281			0		0		0		0		31,056,281
	Total		17,341,871,271			1,086,742,760			284,436,538		18,144,177,493			1,842,779,260		314,110,523		6,870,005,777		0		9,431,392,456
Intangible assets (Depreciation included in expenses)	Trademark rights		731,316			0			0		731,316			431,135		76,362		0		0		300,181
	Software		4,602,029,128			1,573,838,006			0		6,175,867,134			1,268,829,800		1,027,297,734		0		0		4,907,037,334
	Total		4,602,760,444			1,573,838,006			0		6,176,598,450			1,269,260,935		1,027,374,096		0		0		4,907,337,515
Intangible assets (Non-depreciable assets)	Software in progress		875,362,140			449,609,845			474,808,320		850,163,665			0		0		0		0		850,163,665
	Total		875,362,140			449,609,845			474,808,320		850,163,665			0		0		0		0		850,163,665
Total intangible assets	Trademark rights		731,316			0			0		731,316			431,135		76,362		0		0		300,181
	Software		4,602,029,128			1,573,838,006			0		6,175,867,134			1,268,829,800		1,027,297,734		0		0		4,907,037,334
	Software in progress		875,362,140			449,609,845			474,808,320		850,163,665			0		0		0		0		850,163,665
	Total		5,478,122,584			2,023,447,851			474,808,320		7,026,762,115			1,269,260,935		1,027,374,096		0		0		5,757,501,180
Investments and other assets	Investment securities		4,701,414,283			2,637,125,098			1,305,854,830		6,032,684,551			0		0		0		0		6,032,684,551
	Shares of affiliated companies		43,545,746,439			554,741,951			0		44,100,488,390			0		0		0		0		44,100,488,390
	Money held in trust		32,551,007,158			8,258,119,449			0		40,809,126,607			0		0		0		0		40,809,126,607
	Claims probable in bankruptcy, claims probable in rehabilitation, and other		87,062,884,239			0			0		87,062,884,239			0		0		0		0		87,062,884,239
	Allowance for loan losses (non-current)		(75,454,149,239	)		(7,739,311,452	)		0		(83,193,460,691	)		0		0		0		0		(83,193,460,691	)
	Long-term prepaid expenses		18,955,998			4,830,453			18,738,078		5,048,373			0		0		0		0		5,048,373
	Long-term guarantee deposits		637,985,591			13,412,766			17,970,189		633,428,168			0		0		0		0		633,428,168
	Total		93,063,844,469			3,728,918,265			1,342,563,097		95,450,199,637			0		0		0		0		95,450,199,637

F-57

(2) Details of securities

Securities recorded under investments and other assets

(Unit: Yen)
	Name	Acquisition cost		Value obtained by multiplying the net asset value by the percentage of shareholding		Balance sheet amount		Valuation difference recognized in the statement of income of the period			Remarks
Shares of     affiliated     companies	Sumatra Pulp Corporation		2,758,289,455		1		1		0
	Japan Saudi Arabia Methanol Co., Inc.		7,149,297,104		20,910,916,566		7,149,297,104		1,649,816,843
	SPDC Ltd.		7,269,880,619		17,476,588,726		7,269,880,619		0
	KAFCO Japan Investment Co., Ltd.		2,436,204,983		2,531,682,176		2,436,204,983		0
	Nippon Amazon Aluminum Co., Ltd		25,066,535,300		23,948,104,356		23,948,104,356		(1,118,430,944	)
	WASSHA Inc.		300,000,000		31,706,758		31,706,758		(11,230,517	)
	JAPAN ASEAN Women Empowerment Fund		3,230,708,000		3,265,294,569		3,265,294,569		34,586,569
	Total		48,210,915,461		68,164,293,152		44,100,488,390		554,741,951
Other   investment   securities	Type and name		Acquisition cost		Fair value		Balance sheet amount		Valuation difference recognized in the statement of income of the period			Valuation difference on available-for-sale securities		Remarks
	Prototype Carbon Fund		1		-		1		0			0
	Sihanoukville Autonomous Port		1,337,161,583		3,268,019,029		3,268,019,029		0			1,930,857,446
	The First MicroFinanceBank Ltd.		218,880,000		-		189,031,200		0			(29,848,800	)
	Myanmar Japan Thilawa Development Ltd.		321,372,900		-		298,142,100		0			(23,230,800	)
	MGM Sustainable Energy Fund L.P.		1,005,274,535		-		1,046,204,369		52,590,535			(11,660,701	)
	Asia Climate Partners LP		558,923,375		-		650,251,232		113,189,613			(21,861,756	)
	IFC Middle East and North Africa Fund, LP		614,192,174		-		581,036,620		(42,443,880	)		9,288,326
	Total		4,055,804,568		3,268,019,029		6,032,684,551		123,336,268			1,853,543,715
Total balance sheet amount							50,133,172,941					1,853,543,715

* Acquisition cost of other securities related to the investment to investment limited partnership and other equivalent funds includes the amount equivalent to JICA’s percentage share of the accumulated profit/loss amount for the previous term

F-58

(3) Details of loans

(Unit: Yen)

Classification	Balance at the beginning of the period		Increase during the period		Decrease during the period				Balance at the end of the period		Remarks
					Collection, etc.		Write-off
Loans		12,005,003,608,497		1,085,262,640,724		789,972,495,946		0		12,300,293,753,275
Claims probable in bankruptcy, claims probable in rehabilitation, and other		87,062,884,239		0		0		0		87,062,884,239
Total		12,092,066,492,736		1,085,262,640,724		789,972,495,946		0		12,387,356,637,514

F-59

(4) Details of borrowings

(Unit: Yen)

Classification

Balance at the beginning of the period

Increase during the period

Decrease during the period

Balance at the end of the period

Average interest rate (%)

Maturity date

Remarks

Borrowings from government fund for Fiscal Investment and Loan Program

1,911,513,136,000

332,100,000,000

206,179,140,000

2,037,433,996,000 (138,031,638,000)

0.686

June 2019- August 2043

* Figures in parentheses (    ) indicate the amount of borrowings repayable within one year.

F-60

(5) Details of bonds

(Unit: Yen)   

Security name	Balance at the beginning of the period			Increase during the period			Decrease during the period			Balance at the end of the period			Coupon (%)		Maturity date	Remarks
FILP Agency Bonds
FILP Agency Bonds (1st)		30,000,000,000			0			0			30,000,000,000 (                     0	)		2.470	September 2028
FILP Agency Bonds (2nd)		30,000,000,000			0			0			30,000,000,000 (                     0	)		2.341	June 2029
FILP Agency Bonds (3rd)		20,000,000,000			0			0			20,000,000,000 (                     0	)		2.134	December 2029
FILP Agency Bonds (4th)		20,000,000,000			0			0			20,000,000,000 (                     0	)		2.079	June 2030
FILP Agency Bonds (5th)		20,000,000,000			0			0			20,000,000,000 (                     0	)		1.918	September 2030
FILP Agency Bonds (6th)		20,000,000,000			0			0			20,000,000,000 (                     0	)		2.098	December 2030
FILP Agency Bonds (7th)		20,000,000,000			0			0			20,000,000,000 (                     0	)		1.991	June 2031
FILP Agency Bonds (8th)		15,000,000,000			0			0			15,000,000,000 (                     0	)		1.554	September 2026
FILP Agency Bonds (9th)		5,000,000,000			0			0			5,000,000,000 (                     0	)		2.129	September 2041
FILP Agency Bonds (11th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		1.140	December 2021
FILP Agency Bonds (12th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		0.901	June 2022
FILP Agency Bonds (13th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		1.752	June 2032
FILP Agency Bonds (14th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		0.825	September 2022
FILP Agency Bonds (15th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		1.724	September 2032
FILP Agency Bonds (16th)		10,000,000,000			0			10,000,000,000			0 (                     0	)		0.300	December 2018
FILP Agency Bonds (17th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		0.720	December 2022
FILP Agency Bonds (18th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		0.868	June 2023
FILP Agency Bonds (19th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		1.725	June 2033
FILP Agency Bonds (20th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		0.787	September 2023
FILP Agency Bonds (21st)		10,000,000,000			0			0			10,000,000,000 (                     0	)		1.734	September 2033
FILP Agency Bonds (22nd)		10,000,000,000			0			10,000,000,000			0 (                     0	)		0.260	December 2018
FILP Agency Bonds (23rd)		10,000,000,000			0			0			10,000,000,000 (                     0	)		0.684	February 2024
FILP Agency Bonds (24th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		0.655	June 2024
FILP Agency Bonds (25th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		1.520	June 2034
FILP Agency Bonds (26th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		0.588	September 2024
FILP Agency Bonds (27th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		1.451	September 2034
FILP Agency Bonds (28th)		10,000,000,000			0			0			10,000,000,000 (10,000,000,000	)		0.150	December 2019
FILP Agency Bonds (29th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		0.583	June 2025
FILP Agency Bonds (30th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		1.299	June 2035
FILP Agency Bonds (31st)		10,000,000,000			0			0			10,000,000,000 (                     0	)		0.530	September 2025
FILP Agency Bonds (32nd)		10,000,000,000			0			0			10,000,000,000 (                     0	)		1.212	September 2035
FILP Agency Bonds (33rd)		10,000,000,000			0			0			10,000,000,000 (                     0	)		1.130	December 2035
FILP Agency Bonds (34th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		0.245	February 2026
FILP Agency Bonds (35th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		0.080	June 2026
FILP Agency Bonds (36th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		0.313	June 2036
FILP Agency Bonds (37th)		20,000,000,000			0			0			20,000,000,000 (                     0	)		0.100	September 2026
FILP Agency Bonds (38th)		15,000,000,000			0			0			15,000,000,000 (                     0	)		0.590	September 2046
FILP Agency Bonds (39th)		5,000,000,000			0			0			5,000,000,000 (                     0	)		0.744	February 2037
FILP Agency Bonds (40th)		10,000,000,000			0			0			10,000,000,000 (                     0	)		0.220	June 2027
FILP Agency Bonds (41st)		10,000,000,000			0			0			10,000,000,000 (                     0	)		0.602	June 2037
FILP Agency Bonds (42nd)		20,000,000,000			0			0			20,000,000,000 (                     0	)		0.597	September 2037
FILP Agency Bonds (43rd)		20,000,000,000			0			0			20,000,000,000 (                     0	)		0.625	December 2037
FILP Agency Bonds (44th)		0			15,000,000,000			0			15,000,000,000 (                     0	)		0.200	June 2028
FILP Agency Bonds (45th)		0			10,000,000,000			0			10,000,000,000 (                     0	)		0.559	June 2038
FILP Agency Bonds (46th)		0			20,000,000,000			0			20,000,000,000 (                     0	)		0.664	September 2038
FILP Agency Bonds (47th)		0			15,000,000,000			0			15,000,000,000 (                     0	)		0.636	December 2038
Subtotal		540,000,000,000			60,000,000,000			20,000,000,000			580,000,000,000 (10,000,000,000	)
Government-guaranteed bonds
Japan International Cooperation Agency Government-guaranteed bonds (1st)		57,305,000,000 [$500,000,000	]		0			0			57,305,000,000 [$500,000,000 (57,305,000,000	]  )		1.875	November 2019
Japan International Cooperation Agency Government-guaranteed bonds (2nd)		52,295,200,000 [$500,000,000	]		1,968,800,000 [                $0	]		1,105,400,000 [                $0	]		53,158,600,000 [$500,000,000 (                     0	]  )		2.125	October 2026
Japan International Cooperation Agency Government-guaranteed bonds (3rd)		53,532,100,000 [$500,000,000	]		3,445,400,000 [                $0	]		1,934,450,000 [                $0	]		55,043,050,000 [$500,000,000 (                     0	]  )		2.750	April 2027
Japan International Cooperation Agency Government-guaranteed bonds (4th)		0			56,899,200,000 [$500,000,000	]		1,802,150,000 [                $0	]		55,097,050,000 [$500,000,000 (                     0	]  )		3.375	June 2028
Subtotal		163,132,300,000 [$1,500,000,000	]		62,313,400,000 [$500,000,000	]		4,842,000,000 [                $0	]		220,603,700,000 [$2,000,000,000 (57,305,000,000	]  )
Total		703,132,300,000			122,313,400,000			24,842,000,000			800,603,700,000 (67,305,000,000	)

* Figures in parentheses indicate the amount of bonds redeemable within one year. The amount in [    ] is denominated in a foreign currency

F-61

(6) Details of provisions

											(Unit: Yen)
Classification	Balance at the beginning of the period		Increase during the period		Decrease during the period				Balance at the end of the period		Remarks
					Use for purpose		Others
Provision for bonuses		299,206,990		323,356,434		299,206,990		0		323,356,434
Provision for contingent losses		10,598,349,655		9,231,183,567		0		10,543,916,447		9,285,616,775
Total		10,897,556,645		9,554,540,001		299,206,990		10,543,916,447		9,608,973,209

* Decrease during the period (others) for the provision for contingent losses indicates the amount of reversal of the provision after revaluation, etc.

F-62

(7) Details of allowance for loan losses, etc.

														(Unit: Yen)
Classification	Balance of loans, etc.						Balance of allowance for loan losses							Remarks
	Balance at the beginning of the period		Increase or decrease during the period		Balance at the end of the period		Balance at the beginning of the period		Increase or decrease during the period			Balance at the end of the period
Loans		12,005,003,608,497		295,290,144,778		12,300,293,753,275		171,804,355,614		(5,960,416,103	)		165,843,939,511
Claims probable in bankruptcy, claims probable in rehabilitation, and other		87,062,884,239		0		87,062,884,239		75,454,149,239		7,739,311,452			83,193,460,691
Total		12,092,066,492,736		295,290,144,778		12,387,356,637,514		247,258,504,853		1,778,895,349			249,037,400,202

* The standard for the accrual of allowance for loan losses is described in No. 4 of Significant Accounting Policies.

F-63

(8) Details of provision for retirement benefits

										(Unit: Yen)
Classification		Balance at the beginning of the period		Increase during the period		Decrease during the period		Balance at the end of the period		Remarks
Total retirement benefit obligations			6,399,990,809		670,044,906		538,105,289		6,531,930,426
	Retirement benefits		3,651,599,560		461,925,830		448,784,109		3,664,741,281
	Defined benefit corporate pension plan		2,748,391,249		208,119,076		89,321,180		2,867,189,145
Unrecognized past service cost and unrecognized actuarial differences			0		0		0		0
Plan assets			2,196,961,474		230,861,753		89,321,180		2,338,502,047
Provision for retirement benefits			4,203,029,335		439,183,153		448,784,109		4,193,428,379

F-64

(9) Details of asset retirement obligations

									(Unit: Yen)
Classification	Balance at the beginning of the period		Increase during the period		Decrease during the period		Balance at the end of the period		Remarks
Obligation of restoration to original state based on building lease agreement		70,374,150		0		0		70,374,150	Specified expenses in Accounting Standard for Incorporated Administrative Agency No. 91: None

F-65

(10) Details of liabilities for guarantee

								(Unit: Yen)
Classification	Balance at the beginning of the           period		Increase during the         period		Decrease during         the period		Balance at the end of the     period		Remarks
	Number         of bonds	Amount	Number         of bonds	Amount	Number         of bonds	Amount	Number         of bonds	Amount
FILP Agency Bonds     (Public offering)	5	100,000,000,000	0	0	1	20,000,000,000	4	80,000,000,000

* JICA is jointly liable for obligations arising from the above bonds issued by the former Japan Bank for International Cooperation which was succeeded by the Japan Bank for International Cooperation.

F-66

(11) Details of capital and capital surplus

										(Unit: Yen)
Classification		Balance at the beginning of the period		Increase during the period		Decrease during the period		Balance at the end of the period		Remarks
Capital	Government investment		8,037,407,840,510		46,010,000,000		0		8,083,417,840,510	Increase in capital resulting from the receipt of government investment

F-67

(12) Details of reserve fund

									(Unit: Yen)
Classification	Balance at the beginning of the period		Increase during the period		Decrease during the period		Balance at the end  of the period		Remarks
Reserve fund stipulated in Paragraph 4 of Article 31 of the Act of the Incorporated Administrative Agency - Japan International Cooperation Agency		1,546,921,423,987		79,188,199,636		0		1,626,109,623,623	Increase resulting from the appropriation of profits for business year 2017

F-68

(13) Details of remunerations and salaries of officers and employees

	(Unit: Thousands of yen, persons)
Classification	Remunerations or salaries		Retirement benefits
	Payment amount	Number of people	Payment amount	Number of people
Officers	53,236	13	940	2
Employees	4,519,214	1,974	281,765	106
Total	4,572,450	1,987	282,705	108

(Notes)	1. Payment standard of remunerations and retirement benefits to officers
	Remunerations and retirement benefits to officers are paid based on “Rules on Remuneration for Officers” and “Rules on Retirement Benefits for Officers” in place for Incorporated Administrative Agency - Japan International Cooperation Agency.
	2. Payment standard of salaries and retirement benefits to employees
	Salaries and retirement benefits to employees are paid based on “Rules on Salaries for Employees” and “Rules on Retirement Benefits for Employees” in place for Incorporated Administrative Agency - Japan International Cooperation Agency.
	3. Number of people
	As for the number of people to whom remunerations or salaries are paid, the average number of JICA officers or employees during the period is used.
	4. Others
	There are no part-time officers or employees classified as external members.

F-69

(14) Details of main assets, liabilities, and expenses, other than those mentioned above

Operating and administrative expenses	(Unit: Yen)
Classification	Amount
Operating expenses	7,250,616,690
Information system-related expenses	1,751,218,665
Rent expenses on real estate	852,973,997
Travelling and transportation expenses	1,015,795,615
Other expenses	2,750,465,795
Total	13,621,070,762

F-70

(15) Details of affiliated companies

Corporation type and name	(Affiliated company)				(Affiliated company)
Items	KAFCO Japan Investment Co., Ltd.				Karnaphuli Fertilizer Company Limited
Outline of operations	Production of urea and ammonia in Chittagong, Bangladesh				Production of urea and ammonia in Chittagong, Bangladesh
Name of officers	Number of officers: 9 President and CEO: Hiroshi Nakagawa Executive Vice President: Kazuhide Usui (Former Deputy General Manager of the International Credit Analysis Department, former Japan Bank for International Cooperation) Auditor: Toru Nomura (Former General Manager of the Environmental Surveillance Department, former Japan Bank for International Cooperation)				-
Association chart on transactions between affiliated companies and JICA
		JICA		KAFCO Japan Investment Co., Ltd.		JICA		KAFCO Japan Investment Co., Ltd.
			(Equity Investment)				(Equity Investment)		(Equity Investment)
							Karnaphuli Fertilizer Company Limited
Assets	¥5,868,447,848				-
Liabilities	¥60,724,036				-
Capital	¥5,023,900,000				-
Retained earnings	¥783,823,812				-
Operating revenues	¥568,705,546				-
Ordinary (loss) income	¥442,791,265				-
Net (loss) income	¥384,710,711				-
Unappropriated (loss) income for the current business year	¥385,328,064				-
Number of company shares owned by JICA, acquisition cost, balance sheet amount, etc.	•  Number of company shares owned by JICA: 46,606 shares •  Acquisition cost: ¥2,436,204,983 •  Balance sheet amount: ¥2,436,204,983 (No changes from the end of the previous business year) •  Legal basis: Item 2 (b), Paragraph 1, Article 13 of the Act of the Incorporated Administrative Agency - Japan International Cooperation Agency •  Applicable provision of the act: To lend a person designated by the Minister for Foreign Affairs, such as an organization like a juridical person in Japan or the Development Area, the funds required for the execution of their Development Projects or making capital contributions to such persons where there is a special necessity in order to effectuate Development Projects. •  Purpose of investment: Capital contribution to the production of urea and ammonia by the company •  Date of the initial investment: July 27, 1990				•  Number of company shares owned by JICA: - •  Acquisition cost: - •  Balance sheet amount: - •  Legal basis: - •  Applicable provision of the act: - •  Purpose of investment: - •  Date of the initial investment: -
Details of receivables and payables	N/A				-
Details of debt guarantee	N/A				-
Amounts and ratios in relation to gross sales, order placement by JICA, etc. (Amounts and ratios of competitive contracts, planning competitions and public selections, and non-competitive negotiated contracts)	N/A				-
	(Note)   The above amount pertains to the period from September 1, 2017, through August 31, 2018.

F-71

Corporation type and name	(Affiliated company)				(Affiliated company)
Items	Nippon Amazon Aluminum Co., Ltd.				SPDC Ltd.
Outline of operations	Production of alumina and smelting ammonium in the Amazon region				Production and sales of ethylene glycol and other petrochemical products in the Al Jubail Industrial Area
Name of officers	Number of officers: 13 President and CEO: Yoshiki Takizawa Auditor: Masatomo Ogane (Expert for Viet Nam, JICA)				Number of officers: 17 President and CEO: Shinichi Nakayama Managing Director: Hajime Takeuchi (Director General of Latin America and the Caribbean Department of JICA)
Association chart on transactions between affiliated companies and JICA
				Nippon Amazon Aluminum   Co., Ltd
		JICA				JICA		SPDC Ltd.
			(Equity Investment)				(Equity Investment)
Assets	¥53,731,991,101				¥101,984,676,488
Liabilities	¥415,850,386				¥26,482,885,756
Capital	¥55,285,400,000				¥14,200,000,000
Retained earnings	(¥1,969,259,285)				¥61,009,494,614
Operating revenues	¥0				¥111,200,179,176
Ordinary (loss) income	(¥551,834,097)				¥57,094,792,866
Net (loss) income	(¥4,256,332,301)				¥53,250,472,182
Unappropriated (loss) income for the current business year	(¥3,759,726,285)				¥38,959,494,614
Number of company shares owned by JICA, acquisition cost, balance sheet amount, etc.	•  Number of company shares owned by JICA: 496,652,800 shares •  Acquisition cost: ¥25,066,535,300 •  Balance sheet amount: ¥23,948,104,356 (A decrease of ¥1,118,430,944 from the end of the previous business year) •  Legal basis: Item 2 (b), Paragraph 1, Article 13 of the Act of the Incorporated Administrative Agency - Japan International Cooperation Agency •  Applicable provision of the act: To lend a person designated by the Minister for Foreign Affairs, such as an organization like a juridical person in Japan or the Developing Area, the funds required for the execution of their Development Projects or making capital contributions to such persons where there is a special necessity in order to effectuate Development Projects. •  Purpose of investment: Capital contribution to the smelting of alumina and aluminum •  Date of the initial investment: August 29, 1978				•  Number of company shares owned by JICA: 2,107,500 shares •  Acquisition cost: ¥7,269,880,619 •  Balance sheet amount: ¥7,269,880,619 (No changes from the end of the previous business year) •  Legal basis: Item 2 (b), Paragraph 1, Article 13 of the Act of the Incorporated Administrative Agency - Japan International Cooperation Agency •  Applicable provision of the act: To lend a person designated by the Minister for Foreign Affairs, such as an organization like a juridical person in Japan or the Developing Area, the funds required for the execution of their Development Projects or making capital contributions to such persons where there is a special necessity in order to effectuate Development Projects. •  Purpose of investment: Capital contribution to the manufacturing of ethylene glycol and other petrochemical products •  Date of the initial investment: June 17, 1981
Details of receivables and payables	N/A				N/A
Details of debt guarantee	N/A				N/A
Amounts and ratios in relation to gross sales, order placement by JICA, etc. (Amounts and ratios of competitive contracts, planning competitions and public selections, and non-competitive negotiated contracts)	N/A				N/A

(Note)   The above amount pertains to the period from January 1, 2018, through December 31, 2018. (Note)   The above amount pertains to the period from January 1, 2018, through December 31, 2018.

F-72

Corporation type and name	(Affiliated company)					(Affiliated company)
Items	Eastern Petrochemical Company					Sumatra Pulp Corporation
Outline of operations	Production and sales of ethylene glycol and other petrochemical products in the Al Jubail Industrial Area					Construction of a pulp mill to manufacture wood pulp from afforested acacia mangium, and production and sale of wood pulp in Muara Enim, South Sumatra
Name of officers	-					Number of officers: 7 President and CEO: Kazuo Hidaka Executive Vice President: Hironobu Takahashi (Senior Assistant Director of Private Sector Partnership and Finance Department of JICA) Auditor: Nobuyuki Konishi (Deputy Director General of Private Sector Partnership and Finance Department of JICA)
Association chart on transactions between affiliated companies and JICA
		JICA		SPDC Ltd.			JICA		Sumatra Pulp Corporation
			(Equity Investment)		(Equity Investment)			(Equity Investment)
			Eastern Petrochemical Company
Assets	-					¥11,612,820
Liabilities	-					¥726,221,870
Capital	-					¥100,000,000
Retained earnings	-					(¥814,609,050)
Operating revenues	-					¥67,628,705
Ordinary (loss) income	-					(¥35,971,638)
Net (loss) income	-					(¥36,151,635)
Unappropriated (loss) income for the current business year	-					(¥814,609,050)
Number of company shares owned by JICA, acquisition cost, balance sheet amount, etc.	• Number of company shares owned by JICA: - • Acquisition cost: - • Balance sheet amount: - • Legal basis: - • Applicable provision of the act: - • Purpose of investment: - • Date of the initial investment: -					• Number of company shares owned by JICA: 114,032 shares • Acquisition cost: ¥2,758,289,455 • Balance sheet amount: ¥1 (No changes from the end of the previous business year) • Legal basis: Item 2 (b), Paragraph 1, Article 13 of the Act of the Incorporated Administrative Agency - Japan International Cooperation Agency • Applicable provision of the act: To lend a person designated by the Minister for Foreign Affairs, such as an organization like a juridical person in Japan or the Developing Area, the funds required for the execution of their Development Projects or making capital contributions to such persons where there is a special necessity in order to effectuate Development Projects. • Purpose of investment: Capital contribution to the pulp manufacturing business • Date of the initial investment: April 21, 1995
Details of receivables and payables	-					N/A
Details of debt guarantee	-					N/A
Amounts and ratios in relation to gross sales, order placement by JICA, etc. (Amounts and ratios of competitive contracts, planning competitions and public selections, and non-competitive negotiated contracts)	-					N/A
						(Note)   The above amount pertains to the period from April 1, 2017, through March 31, 2018.

F-73

Corporation type and name		(Affiliated company)				(Affiliated company)
Items		Japan Saudi Arabia Methanol Co., Inc.				JSMC PANAMA S.A.
Outline of operations		Production of methanol in the Al-Jubail Industrial Area				Transportation of methanol business
Name of officers		Number of officers: 12 Chairman: Akira Ishiwada Managing Director and General Manager of the General Affairs Department: Susumu Iwamoto (Director General of the Office of Information System of JICA) Auditor: Yutaka Ohashi (Former General Manager of Development Assistance Department IV, former Japan Bank for International Cooperation)				-
Association chart on transactions between affiliated companies and JICA	��
			JICA		Japan Saudi Arabia Methanol Co., Inc.		JICA		Japan Saudi Arabia Methanol Co., Inc.
				(Equity Investment)				(Equity Investment)		(Equity Investment)
								JSMC PANAMA S.A.
Assets		¥76,244,576,708				-
Liabilities		¥6,541,521,485				-
Capital		¥2,310,000,000				-
Retained earnings		¥67,674,644,223				-
Operating revenues		¥99,247,594,272				-
Ordinary (loss) income		¥50,692,074,263				-
Net (loss) income		¥47,572,176,350				-
Unappropriated (loss) income for the current business year		¥51,524,044,223				-
Number of company shares owned by JICA, acquisition cost, balance sheet amount, etc.		•  Number of company shares owned by JICA: 1,386,000 shares •  Acquisition cost: ¥7,149,297,104 •  Balance sheet amount: ¥7,149,297,104 (An increase of ¥1,649,816,843 from the end of the previous business year) •  Legal basis: Item 2 (b), Paragraph 1, Article 13 of the Act of the Incorporated Administrative Agency - Japan International Cooperation Agency •  Applicable provision of the act: To lend a person designated by the Minister for Foreign Affairs, such as an organization like a juridical person in Japan or the Developing Area, the funds required for the execution of their Development Projects or making capital contributions to such persons where there is a special necessity in order to effectuate Development Projects. •  Purpose of investment: Capital contribution to the methanol manufacturing business •  Date of the initial investment: December 17, 1979				•  Number of company shares owned by JICA: - •  Acquisition cost: - •  Balance sheet amount: - •  Legal basis: - •  Applicable provision of the act: - •  Purpose of investment: - •  Date of the initial investment: -
Details of receivables and payables		N/A				-
Details of debt guarantee		N/A				-
Amounts and ratios in relation to gross sales, order placement by JICA, etc. (Amounts and ratios of competitive contracts, planning competitions and public selections, and non-competitive negotiated contracts)		N/A				-
		(Note)   The above amount pertains to the period from January 1, 2018, through December 31, 2018.

F-74

Corporation type and name	(Affiliated company)				(Affiliated company)
Items	WASSHA Inc.				JAPAN ASEAN Women Empowerment Fund
Outline of operations	LED lamp rental services and charging services in the area without electricity in Sub-Saharan Africa				Investment and / or loan to Microfinance Institutes for empowerment of women in ASEAN countries
Name of officers	Number of officers: 7 Representative CEO: Satoshi Akita Outside Director: Nobuyuki Konishi (Deputy Director General of Private Sector Partnership and Finance Department of JICA)				Number of officers: 3 Director                              Christophe Grünig Director                              Peter Fanconi Director                              Ted Uemae
Association chart on transactions between affiliated companies and JICA
		JICA		WASSHA Inc.		JICA		JAPAN ASEAN Women Empowerment Fund
			(Equity Investment)				(Equity Investment)
Assets	¥234,728,068				¥13,881,820,881
Liabilities	¥24,406,571				¥550,220,140
Capital	¥302,250,000				¥13,305,971,500
Retained earnings	(¥793,178,503)				¥25,629,241
Operating revenues	¥151,885,955				¥922,976,504
Ordinary (loss) income	(¥209,656,325)				¥680,002,996
Net (loss) income	(¥210,527,125)				¥680,002,996
Unappropriated (loss) income for the current business year	(¥793,178,503)				¥25,629,241
Number of company shares owned by JICA, acquisition cost, balance sheet amount, etc.	•  Number of company shares owned by JICA: 300 shares •  Acquisition cost: ¥300,000,000 •  Balance sheet amount: ¥31,706,758 (A decrease of ¥11,230,517 from the end of the previous business year) •  Legal basis: Item 2 (b), Paragraph 1, Article 13 of the Act of the Incorporated Administrative Agency - Japan International Cooperation Agency •  Applicable provision of the act: To lend a person designated by the Minister for Foreign Affairs, such as an organization like a juridical person in Japan or the Developing Area, the funds required for the execution of their Development Projects or making capital contributions to such persons where there is a special necessity in order to effectuate Development Projects. •  Purpose of investment: Capital contribution to the LED lamp rental services and charging business •  Date of the initial investment: October 28, 2016				•  Number of company shares owned by JICA: 3,000 shares •  Acquisition cost: ¥3,230,708,000 •  Balance sheet amount: ¥3,265,294,569 (An increase of ¥34,586,569 from the end of the previous business year) •  Legal basis: Item 2 (b), Paragraph 1, Article 13 of the Act of the Incorporated Administrative Agency - Japan International Cooperation Agency •  Applicable provision of the act: To lend a person designated by the Minister for Foreign Affairs, such as an organization like a juridical person in Japan or the Developing Area, the funds required for the execution of their Development Projects or making capital contributions to such persons where there is a special necessity in order to effectuate Development Projects. •  Purpose of investment: Capital contribution to the fund •  Date of the initial investment: October 21, 2016
Details of receivables and payables	N/A				N/A
Details of debt guarantee	N/A				N/A
Amounts and ratios in relation to gross sales, order placement by JICA, etc. (Amounts and ratios of competitive contracts, planning competitions and public selections, and non-competitive negotiated contracts)	N/A				N/A
	(Note)   The above amount pertains to the period from January 1, 2018, through December 31, 2018. The company changed its name from Digital Grid Inc. to WASSHA Inc. on January 1, 2018.				(Note)   The above amount pertains to the period from January 1, 2018, through December 31, 2018.

F-75