Dive into Kansai’s Economic Core
The Bank of Japan welcomed ACCJ members for a behind-the-scenes look at its historic Kobe branch.
Members of the American Chamber of Commerce in Japan (ACCJ) got a unique look into the country’s most important financial institution, the Bank of Japan (BOJ), and a rare glimpse at its office building, on March 24 as the ACCJ–Kansai Business Programs Committee hosted an event titled Dive into Kansai’s Economic Core.
Following a short video explaining the BOJ’s functions and Japan’s current banknotes, which went into circulation with a new design in July 2024, attendees toured the Kobe branch. The visit included a peek inside the old vault with its display representing ¥4 billion (about $25 million) in ¥10,000 notes.
The BOJ’s Kobe branch, which celebrates its 100th anniversary in 2027, played a critical role in the immediate aftermath of the January 1995 Great Hanshin-Awaji Earthquake, including the replacement of banknotes that were burned or damaged by water and mud. There were also temporary branches of local Kobe banks quickly set up in the BOJ building to help survivors access their accounts and begin the recovery process.
Masaki Bessho, general manager of the BOJ’s Kobe branch, discussed the Kansai economic outlook and monetary policy in a presentation at the Kobe Bankers’ Association Building. After an active Q&A session, the event concluded with a networking reception for Bessho and fellow attendees, including:
- British Consul-General Michael Blyth
- Philippine Consul-General Donna Rodriguez
- Thai Acting Consul-General Pakprapai Kumbunlue
- Hungarian Consul and Head of Mission Andras Kerekes
- German Head of Economic Affairs Johannes Schweizer
“The event provided a really useful insight into the role Central Bank branches in Japan continue to play and a great discussion on the Japanese economy,” said Blyth.
Bessho remarked: “I am absolutely delighted that we could successfully host the guided exploration of the Bank of Japan Kobe Branch and the subsequent briefing on the Kansai economic outlook for the ACCJ–Kansai chapter. During the site visit, it was deeply encouraging to receive such warm words of praise regarding the Bank’s tireless efforts during the Great Hanshin-Awaji Earthquake.”
The questions raised during the briefing, Bessho noted, were exceptionally sharp and insightful, making the dialogue both stimulating and genuinely enjoyable. “Furthermore, the networking session provided a valuable window into the diverse activities of global corporations operating right here in Kansai. This event served as an outstanding opportunity to strengthen our ties with foreign business leaders and diplomats based in the region. I truly look forward to deepening our engagement with the ACCJ and continuing this meaningful collaboration in the years to come.”
ACCJ–Kansai Lead Aiko Baba added: “I am grateful for the interaction we had. My hope is to foster deeper friendships that will serve as a foundation for new opportunities and growth for our beloved Kansai.”