Southwards Ho!
Japan's New Development Co.
THE South Sea Development Company of Japan will be established under the auspices of the Japanese Government on November 27, and will commence business on January 1 (says the Japan Advertiser of September 4).
This company is closely related to . the Formosa Development Company, whose establishment was formally decided on August 25. Count Hideo Kodama, former Overseas Minister, is chairman of the establishment committees for the two con cerns.
The Company’s activities will embrace; Agriculture, marine product, mining and shipping enterprises necessary for Japan’s overseas expansion.
Emigration enterprise necessary for overseas expansion.
Acquisition of land (including lease) for overseas enterprises and its management.
Land management on trust.
Supply of materials necessary for over seas industrial development.
Supply of funds for the same purposes.
All incidental enterprises necessary for these.
The company will be capitalized at 20,000,000 yen in 400,000 shares, each share being valued at 50 yen. Of that amount, the Government will invest 10,546,000 yen in the institution in the shape of invest ment in property, as is the case with the Formosa Development Company. The re maining 9,454,000 yen will be offered for public subscriptions. The company will be given the privilege of issuing debentures three times as great as its paid-up capitali zation.
The company will carry on mining of phosphatic ores on Anguar and other of Japan’s mandated South Sea islands. The ores are now held by the Government. It also will conduct a marine product indus try. Manufacture of canned provisions, dried fish and cold storage fish will be carried on.
In addition, the company will operate a steamship service among the South Sea islands and will advance loans for indus trial development. The company’s activ ities will extend to Japan’s mandated South Sea Islands, the Straits Settlements, Aus tralia, New Zealand, other Oceanian islands, the Dutch East Indies, French Indo-China and Siam.