Kyoei Fire was born in merger Based on “Cooperatives organization” Sangyokumiai (cooperatives) reconsidered the policy towards the “next” in light of the failure of the insurance companies acquisition. As a result, the policy was decided as follows; 1) Avoiding life insurance business that had caused strong opposition, to work with leading companies limited to property insurance, 2) In order to avoid politicization, to carry a thing carefully during the closing of the Parliament , and to cancel the work during opening in the Parliament, 3) To adopt individual investment style until getting the approval of the competent authority, 4) To take the prior approval of the authorities concerned. Sangyokumiai asked … Continue reading →

Investigating Committee supposed institutionalization After the war, the Allied Forces General Headquarters (GHQ) carried out the occupation policy one after another such as dissolution of Zaibatsu (financial combine group) and antitrust. There was also   GHQ’s intention to unify regulation of the financial institutions including insurance companies. On 5 December 1945 shortly after the war, the Ministry of Finance established Financial System Investigating Committee (the primary). The committee began to consider for all financial institutions system including Bank of Japan, commercial banks, insurance companies, and securities companies. The members from scholars and each industry participated the committee. At the time, Toyohiko Kagawa, who had served as chairman of the Japan Cooperatives … Continue reading →

Defined in the provisions of nokyo law After the negotiation over one year and eight months between Ministry of Agriculture and Forestry and the Allied Forces General Headquarters (GHQ), nogyokyodokumiai (agricultural cooperatives, or “nokyo”) law was promulgated in November 1947 and came into effect on 15 December. In Article 10, Paragraph (1), Item8 of nokyo law, there was the provisions of “facility regarding kyosai (mutual insurance) for agricultural disaster or other disasters.” This provision became the starting point of nokyo-kyosai (agricultural cooperatives mutual insurance) business. GHQ issued “Farmers release command” (memorandum of understanding regarding agrarian reform) on 9 December 1945. Part of the Japanese side’s answer against “Farmers release command” … Continue reading →

Sprout in northern limit area of rice cultivation In the end of 1945 after the end of the war, Kitami branch of prefectural nogyokai (agricultural institution) of Hokkaido (Hokuno) had been studying on “measures for funds to rescue poverty”. This region was the northern limit area of rice cultivation and had been plagued by cold weather. But if the climate became stable, it was one of the largest agricultural areas in Hokkaido island. Buying food trippers from the city was flooded in the post-war food shortages. Its sales money was sleeping in the chest of drawers of the farmers and was not put into nogyokai (agricultural institution) as deposit. Due … Continue reading →

Crisis by interrupt of the Ministry of Finance On 13 June 1948, at the second annex hall of prefectural nogyokai (agricultural institution) of Hokkaido in Sapporo, the founders meeting of Kyosairen Hokkaido (Prefectural Mutual Insurance Federation of Hokkaido of Agricultural Cooperatives) was held. On 28th, the Establishment General Assembly was held in central auditorium of Hokkaido University, gathering 65 nokyo (agricultural cooperatives). Kyosairen Hokkaido was officially established. In the Establishment General Assembly, director election had difficulties. At the time, there were people to regard kyosai (mutual insurance) as dubious thing. People hesitated becoming director of the federation. Shigeyoshi Okuno of prefectural nogyokai (agricultural institution) of Hokkaido ran around the Hokkaido … Continue reading →