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42 . Exploratory Workshop on the Social Impacts of Robotics

Daiwa Securities America Inc.

Page -16-

(1) With MITI encouragement, if not direction, a robot leasing company, Japan Robot Lease, (JAROL) , was founded in April, 1980 with the initial paid-in capital of Y 100 million. This company is jointly

owned--70% by 24 JIRAmembers and 30% by ten

panies.

The

aim

of

JAROL

is

to

support

robot

non-life insurance com- installation by small and

medium-scale manufacturers and increase their operating funds are financed by low cost loans

productivity. As 60% of from the government’s

J a p a n D e v e l o p m e n t B a n k , a n d t h e r e s t f r o m t h e L o n g - T e r m C r e d i t B a n k , I n d u s t r i a l B a n k o f J a p a n a n d t h e c i t y b a n k s , J A R O L i s i n a p o s i t i o n t o than the (fiscal year lease industrial ordinary leasing robots under conditions more advantageous its first operation companies. of For year

1980) , JAROL planned contracts numbering 52

Y 700 million amounted to Y

robot leases; actually its leasing 1, 150 million (about $ 571/2 million)

.

The average term of the lease was 6.5 years and In April, 1981 JAROL offered a more flexible 2-

provided a full payout. 3 year rental agreement

(not a full payout) and after the expiration of the agreement planned to rent the robot to the same or a different user. At the same time JAROL

began discussions with MITI to enter overseas leasing of robots. This

resulted

from

robots.

Some

a request of an Australian firm to lease Japanese-made question arose as to the propriety of using government

loans for overseas Export and Import strengthen Japan’s

leasing but JAROL suggested loans from the Japan

Bank. Positive competitiveness

action on this matter will greatly in overseas industrial robot markets.

(2) MITI has arranged for direct government low-interest loans to small and medium-scale manufacturers to encourage robot installation for automating processes dangerous to human labor and for increasing

productivity.

The government budgeted for fiscal year

for these loans which are Corporation, a government

extended

through

finance

agency.

the

Small

1980 Y 5.8 billion Business Finance

(3) depreciate to taking

MITI has permitted the manufacturer who installs a robot to

12. 5% of ordinary

its initial purchase

depreciation.

This

price extra

in the first year in addition depreciation is a common

practice in Japan when

MITIseeks

to promote a particular industry or

product.

Extra depreciation has been as high as 50%. Generally it can

be taken over a three year period and is installments beginning in the sixth year. robot, a firm can depreciate 52. 5% in the year depreciation double declining) .

usually repaid in B y installing an first year, 12. 5%

five annual industrial plus 40% ( 5

(4) MITI created an atmosphere favorable to the introduction of the industrial robot, but it had depended largely on the private companies to determine the direction and scale of production and to undertake R & D. However, MITI has now just announced plans for a huge R & D program to be discussed in the following section.

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