Message from the Chairman CEO

Japan's economy has been gradually recovering led by an increase in private consumption. It is overcoming the difficulties caused by the Lehman shock and the East Japan Great Earthquake. The business conditions of small and medium-sized enterprises (SMEs) are showing the sign of improvement. However, SMEs still face a number of management challenges in the adverse business environment, and the revitalization of SMEs remains one of the most important policy agendas in Japan.

The organization that manages the Credit Risk Database (CRD) was founded in March 2001 as the CRD Management Council with the membership of 52 Credit Guarantee Corporations and a few financial institutions. Its mission was to improve access of SME funding, which had been heavily dependent on collateral and personal guarantee of CEOs. The CRD Management Council was initially founded as a non-corporate voluntary organization, and with the growth in membership and the accumulation of data, in April 2005 it obtained corporate status to change its name to the CRD Association, a limited liability intermediate corporation. In June 2009, under the new Act on General Incorporated Associations and General Incorporated Foundations, the CRD Association became a general incorporated association.

The CRD Association receives various data regarding SMEs, such as financial, non-financial and default data, from its member institutions. It then creates a pooled credit risk database of these SMEs. It makes this database available to its member institutions by offering statistical analyses as well as organizing joint projects and seminars. This will contribute to a more efficient and sound operations of the member institutions.

The CRD Association will strive for its mission of facilitating SME finance in Japan by keeping close communication with its member institutions and making a contribution to more efficient and sound operations of these institutions.

Michio Masukawa
Chairman CEO

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