Issuance process

The diagram below illustrates the Issuance process for the short-term corporate bonds

When the short-term corporate bonds are contracted, the issuer applies to JASDEC for the issuance of the short-term corporate bonds, and JASDEC notifies JASDEC Participants of the issuance and fund settlement information. JASDEC participants contact their Fund Settlement Corporation about the fund settlement information, and JASDEC sends the payment instruction to the Bank of Japan. The Bank of Japan notifies JASDEC participant’s Fund Settlement Corporation of the payment request, and in response, JASDEC participant’s Fund Settlement Corporation sends the payment instruction to the Bank of Japan. The Bank of Japan notifies the issuer’s Fund Settlement Corporation of the payment completion, and in response, the issuer’s Fund Settlement Corporation notifies the issuer of the payment completion. The Bank of Japan also notifies JASDEC of the payment completion, and in response, JASDEC makes the new record of the short-term corporate bonds in the account of JASDEC Participants.

For enquiries about the Book-Entry Transfer System for CP, please contact:

General Enquiries about the Book-Entry Transfer System for Short-Term Corporate Bonds (CP)

+81-3-3661-0977

Outline of the Book-Entry Transfer System for Short-Term Corporate Bonds (CP)

Procedures of the Book-Entry Transfer System for Short-Term Corporate Bonds (CP)

Regulations and Fees of the Book-Entry Transfer System for Short-Term Corporate Bonds (CP)

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