Endnotes
1 Interview with Fumi Sugeno, December 3, 2024. 2 Ibid. 3 Robin Takashi Lewis, “Sanpo Yoshi: the Japanese business principle of success through responsibility,” Social Innovation Japan, November 28, 2018. 4 Interview with Nanako Kudo, May 27, 2024. 5 GSG Impact JAPAN, “About GSG Impact JAPAN National Partner,” accessed January 9, 2025. 6 Ibid. 7 The Social Innovation and Investment Foundation, 2017 Annual Report,” 2017, https://www.siif.or.jp/wp-content/up loads/2020/09/SIIF_annual_report_2017_en.pdf. 8 Ibid. 9 SIIF, Institution for the Advancement of Social Innovation and Social Impact Investment Foundation Merge to Form Social Innovation and Investment Foundation (SIIF),” October 1, 2019, https://www.siif.or.jp/assets/pdf/legacy/press- release_New-SIIF-20191001-final.pdf. 10 Japan Social Innovation and Investment Foundation, “Impact Review 2023,” 2023, https://www.siif.or.jp/wp-content/ uploads/2024/06/SIIF_ImpactReview2023.pdf. 11 Ibid. 12 “Vision papers for the three areas of ‘opportunity disparity,’ ‘regional revitalization,’ and ‘healthcare,’” Japan Social Innovation and Investment Foundation, July 7, 2023, https://www.siif.or.jp/wp-content/uploads/2023/07/PressRelease_ visionpaper.pdf. 13 Social Innovation and Investment Foundation (SIIF), sent directly to author, January 28, 2025. 18 Interview with Mitsuaki Aoyagi, July 3, 2024. 19 Interview with Fumi Sugeno, December 3, 2024. 20 Office of Healthcare Policy, “The Study Group on Impact Investment for Global Health Final Report,” Cabinet Secretariat, Office of Healthcare Policy, March 2023. 21 New Business Creation Promotion Office, Industrial and Economic Policy Bureau, Ministry of Economy, Trade, and Industry, “Selection Guidelines (in Japanese),” October 2023. 22 GSG Impact JAPAN, “Our Activities: Impact Investing Roundtable co-hosted with the Financial Services Agency,” accessed December 26, 2024. 23 In the US these are typically known as ‘pay for success’ contracts. 24 Michiru Toda, sent directly to author, January 23, 2025. 25 JANPIA, “Our vision,” accessed January 9, 2025, https://www.janpia.or.jp/en/about/vision.html. 14 Image drawn by Yuya Kato, November 26, 2024. 15 Interview with Nanako Kudo, November 22, 2024. 16 Interview with Nanako Kudo, May 27, 2024. 17 Interview with Nanako Kudo, November 22, 2024. 26 JANPIA, “About the open call”, accessed January 9, 2025, https://www.janpia.or.jp/dormant-deposits/po/ 27 Cabinet Office, “Regarding the Dormant Deposit Utilization System,” November 2024, https://www8.cao.go.jp/ kyumin_yokin/seido/setsumei.pdf. 28 Ibid. 29 Social Innovation and Investment Foundation, Dormant Deposits Utilization Project Impact Report 2022, https://www. siif.or.jp/wp-content/uploads/2023/03/SIIF_Dormant-Deposits-Utilization-Project-Impact-Report-2022-1.pdf. 30 Social Innovation and Investment Foundation, Dormant Deposits Utilization Project Impact Report 2023, 2023 https:// www.siif.or.jp/wp-content/uploads/2024/03/SIIF_Dormant-Deposits-Utilization-Project-Impact-Report-2023-final.pdf. 31 SIIF, Selection of implementing organizations for the ‘Regional Impact Fund Establishment and Operation Support Project’ by SIIF,” September 13, 2022, https://www.siif.or.jp/wp-content/uploads/2022/09/2021.pdf. 32 Mitsuaki Aoyagi, sent directly to author, January 23, 2025. 33 Ibid. 34 SIIF, “Annual Report 2020,” 2020. 35 SIIF, sent directly to author, January 23, 2025. 36 Fumi Sugeno, sent directly to author, January 23, 2025.
37 Ibid. 38 Ibid.
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Ten Years in the Making
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