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METI to Hold a Seminar Titled “SIB Seminar: Discussion on the Feasibility of Introducing a Social Impact Bond System to Solve Social Challenges in the Field of Healthcare” a seminar under the FY2017 Project for Promoting Creation of New Industries for Enhancement of Healthy Lifespans

The Ministry of Economy, Trade and Industry (METI) and the Ministry of Health, Labour and Welfare (MHLW) have been encouraging the public and private sectors to introduce a social impact bond (hereinafter referred to as the “SIB”) system as an effective means to solve social challenges.

As part of this effort, on February 22, 2018, METI and MHLW will jointly hold a seminar to explain key points in introducing an SIB system and leading efforts by related ministries and agencies, in light of the results of demonstration and research projects. Moreover, the seminar will hold a panel discussion of stakeholders involved in the introduction, including the sector from the government, municipalities and intermediate support organizations, to exchange views concerning challenges that Japan is facing in further promoting the introduction of an SIB system and new efforts to overcome such challenges.

1. Outline of the SIB

An SIB is a system in which the public sector commissions a pay-per-outcome project to the private sector by taking advantage of private funds. In this system, the private sector collaborating with public sector conducts innovative projects for overcoming social challenges by taking advantage of private funds and know-how, and the private sector pays returns to the private sector for the successful outcomes of the project by using the achievements that make public costs efficient and other results as capital funds. This system has been popularized worldwide mainly in the United Kingdom as the country that originally developed the world’s first SIB-based project in 2010.

In Japan, two projects utilizing the SIB system were embarked on in FY 2017, in Kobe City and Hachioji City, which are titled, “a Project for Preventing Severe Diabetic Nephropathy” and “a Project for Improving Ratios of People who Undergo Examination and Precision Examinations of Bowel Cancer”.

2. Purpose and background

In FY2015, METI conducted demonstration projects and meetings concerning an SIB system and compiled the discussion results into a report titled “Basic Approaches to Japanese Healthcare Social Impact Bond*1.” In light of the report, in FY2016, Kobe City and Hachioji City supported the private sector in developing projects in the field of healthcare, and in FY2017, these efforts brought about successful introduction into both cities of Japan’s first, full-fledged SIB-based projects with multi-fiscal year contracts in a pay-per-outcome style. Aiming to further encourage the public and private sectors to introduce an SIB system, METI also prepared a report titled “Collection of Know-how for Municipalities in Introducing a Social Impact Bond into the Field of Healthcare*2,” a compilation of key points for municipalities in introducing an SIB system.

Furthermore, MHLW adopted ten projects under the FY2017 Project for Improvement of Environments to Develop and Disseminate Social Projects Taking Advantage of Private Funds in the Field of Health and Welfare, and it has been advancing these as model projects.

The seminar will consist of two parts: Part 1 will hold a briefing by METI and MHLW officials concerning Japan’s expectations on an SIB system and future directions of efforts therefor, and Part 2 will hold a panel discussion to exchange views concerning a variety of issues, such as significance, effects and challenges involved in municipalities’ introduction of SIB systems, viewpoints and schemes that project developers should take in developing projects, and significance in and effects of participation of service providers in SIB-based projects.

Notes:
*1: Report titled “Basic Approaches to Japanese Healthcare Social Impact Bond” prepared under the FY2015 Project for Creating New Industries for Enhancement of Healthy Lifespans (Supporting Businesses in Creating Healthcare Business) (in Japanese)
*2. Report titled “Collection of Know-how for Municipalities in Introducing a Social Impact Bond into the Field of Healthcare” prepared under the FY2017 Project for Creating New Industries for Elongation of Healthy Lifespans (in Japanese)

3. Outline of the event

  • Date: February 22 (Thur.), 2018; from 13:30 to 16:00
  • Venue: Large meeting room on the second floor of the Nippon Foundation (1-2-2 Akasaka, Minato Ward, Tokyo)
  • Organizer: METI
  • Co-organizer: MHLW
  • Expected main participants: Stakeholders involved in administrative affairs in municipalities, people from financial institutes, public-private funds and service providers
  • Admission: Free
  • How to apply: Visit the following website of the secretariat for prior registration.
  • Secretariat: The Japan Research Institute, Limited
    Secretariat’s website  (in Japanese)External Site Link

4. Program

  • Part 1
    • 1-1 METI’s expectations on an SIB system and efforts therefor
    • 1-2 MHLW’s expectations on an SIB system and efforts therefor
  • Part 2
    • 2-1 Panel discussion
  • Topic: Significance for Municipalities and Service Providers in Introducing an SIB System and Key Points in Embarking on SIB-based Projects
  • Moderator: The Japan Research Institute, Limited
  • Panelists: Representatives from municipalities and intermediate support organizations (under coordination)
  • Observers: Officials from METI and MHLW

Release date

January 4, 2018

Division in Charge

Healthcare Industries Division, Commerce and Service Industry Policy Group

Ministry of Economy, Trade and Industry1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan Tel: +81-(0)3-3501-1511
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