Japanese Savings Bond

A Savings bond issues November 1940 by Nippon Kangyo Bank, Ltd. which later became Dai-Ichi Kangyo Bank, Ltd. Nippon Kangyo Bank was founded in 1897 as a governmental institution providing long-term light industrial and agricultural loans under the Nippon Kangyo Bank Act of 1896. The proceeds from the sale of this bond will be saved in the Deposit Department of the Japanese Treasury and this bond is to support the war against China (WWII). The bond is a zero-coupon/discound bond. The face value is 15 Yena nd the sale price is 10 Yen. According to the Temporary Funding Act (a war time funding act), the bond is repaid by a schedule of lottery. From the second year to the thirty-fifth year of the bond issue year, soem bond holders will be paid the face value by lottery. Therefore, the maximum return on this bond is 150% in a year and the minimum return is 1.165% per year over 35 years.Japan 069959

debt