Japanese Business Glossary

引当金 (hikiatekin) in Japanese means "provision" or "reserve." This term refers to funds set aside by a company to cover anticipated future liabilities or expenses. These provisions are made to prepare for potential risks, such as bad debts, repairs, or legal settlements, that might arise.

In accounting, hikiatekin is recognized as a liability on the balance sheet, reducing the company's reported income to reflect these future obligations. Properly managing hikiatekin is crucial for accurate financial reporting and ensuring that the company has sufficient resources to handle unexpected costs or losses.

理事 (riji) in Japanese means "director" or "executive board member." This term refers to an individual who holds a leadership and decision-making position within an organization, such as a company, non-profit, or educational institution. The role of a riji involves participating in the governance and strategic planning of the organization, making important policy decisions, and overseeing the implementation of these decisions.

Riji are often part of a board of directors or an executive committee, and they work collectively to ensure the organization achieves its goals and operates effectively. Their responsibilities can include financial oversight, compliance with laws and regulations, and providing guidance to the management team.

差し押さえ (sashiosae) in Japanese means "seizure" or "attachment." This term refers to the legal process of taking possession of a person's or entity's property by authority of a court or legal body, typically due to non-payment of debt or other financial obligations.

Sashiosae can involve various types of assets, including bank accounts, real estate, vehicles, and other valuable properties. The purpose of this action is to secure the fulfillment of a debt or judgment by selling the seized assets and using the proceeds to pay off the owed amount. It is a serious legal measure and usually follows formal procedures, ensuring that the rights of both the debtor and creditor are considered. Understanding and managing sashiosae is crucial for maintaining financial and legal compliance.

The 民事再生法 (Minji Saiseiho), known in English as the Civil Rehabilitation Act, is a Japanese law that provides a legal framework for financially distressed companies to restructure their debts and business operations. This law aims to help businesses avoid bankruptcy by facilitating a rehabilitation process that allows them to continue operating while repaying creditors under more manageable terms. The Civil Rehabilitation Act enables a company to propose a rehabilitation plan, which must be approved by a majority of creditors and confirmed by the court. This process is designed to protect the interests of both the company and its creditors, promoting a fair and efficient resolution to financial difficulties.

The term 現金出納帳 (genkin suitocho) refers to a cash book used in Japanese accounting practices. It is a record-keeping ledger where all cash transactions of a business are documented. This includes details of both cash inflows, such as sales receipts or funds received, and cash outflows, like payments made for expenses or purchases.

The cash book helps businesses track their cash flow accurately, ensuring that all cash movements are accounted for and balanced. It is an essential tool for maintaining financial transparency and accountability, providing a clear picture of the company's cash position at any given time. Keeping an up-to-date cash book is crucial for effective financial management and compliance with accounting standards.

公益財団法人 (koeki zaidan hojin) refers to a Public Interest Incorporated Foundation in Japan. This type of legal entity is established to conduct activities that promote the public good, such as educational, cultural, scientific, and social welfare initiatives. Public Interest Incorporated Foundations are recognized by the Japanese government for their contributions to society and must meet specific criteria and regulations to maintain their status.

These foundations operate under strict governance and transparency standards, ensuring that their activities align with their stated public interest goals. They can receive tax benefits and donations, which further support their efforts to contribute positively to society. Public Interest Incorporated Foundations play a vital role in addressing various societal needs and enhancing community well-being in Japan.