About Us
History
Japan's savings promotion movement had its birth at the beginning of the Meiji era (1868-1912).
The major characteristic of the movement in the period from the Meiji era until the Second World War was that it was carried out under the government's initiative in order to achieve national goals. Since savings were regarded as an important funding source for new industries, supporting policies were taken by the government to catch up with advanced Western countries. After the Second World War, savings were encouraged by the government as a means to rehabilitate the Japanese economy and to put down vicious inflation.
In 1952, the Central Council for Savings Promotion was established as the central organization of the savings movement, which dramatically changed the movement's nature -- from being more or less an officially sponsored movement it came under the control of a private organization. The Council has maintained a nationwide movement by keeping in close contact with Local Financial Services<or Savings> Information Committees (Local Committees hereinafter). At first, savings were encouraged to promote capital accumulation to support Japan's economy which was growing mainly due to exports. Then, as the economy entered a high growth period and living standards rose, this activity gradually placed more stress on the dissemination of information necessary for a healthy and independent economy not only for individual households but the country as a whole, and today it places main stress on consumer education concerning financial and economic matters related to daily life. To better reflect its function, the Council changed its name to the Central Council for Savings Information in April 1988 and to the Central Council for Financial Services Information in April 2001 (Table).
| Characteristics | Characteristics | |
|---|---|---|
| 1946-51 Savings campaign for economic salvation |
Developed by government initiative mainly to control inflation | Lectures by the Finance Minister and the Governor of the Bank of Japan Children's Bank (Jan. 1948) |
| 1952-58 Special savings movement |
The Central Council for Savings Promotion established (Apr. 1952) Various movements developed to promote savings for capital accumulation and exports at the Central Council's initiative |
Lectures Distribution of housekeeping account books (Oct. 1952) |
| 1958-61 Consolidation |
Framework of current system completed | Group activities in Model Savings Districts (established in June 1958), tie-up with womens' organizations, and Savings Promoter System established (June 1960) |
| 1961-73 Expansion |
Additional activites for children | Regular TV programs started (Aug. 1962) Life Planning Computer Consultation Service (Dec. 1962) Activities to disseminate pecuniary education, including model schools for pecuniary education (established in Apr. 1973) |
| 1974-80 Support of Energy-Saving Campaigns |
Energy-saving campaigns and movements to review consumption actively supported (1st and 2nd oil crises) | |
| 1981- Review of savings promotion |
Three mainstays established (since FY 1983): --to provide financial and economic information --to encourage the drafting of life plans --to disseminate pecuniary education The Central Council for Savings Promotion changed its name to the Central Council for Savings Information (Apr. 1988) and to the Central Council for Financial Services Information (Apr. 2001) Savings Districts were renamed to Study Group on Financial and Economic Matters and Savings Promoters were renamed to Study Adviser on Financial and Economic Matters (Apr. 2002) |
Website of the Central Council (Oct. 1999) "Guide to Consumer Education for Financial Literacy" released (March 2002) |