President's Message

Hiroki Watanabe - President
  The Japan Expressway Holding and Debt Repayment Agency was established in October 2005 with six privatized expressway companies within the privatization framework of the highway public corporations.

  The missions are to hold and maintain the expressway assets in a good condition and to repay inherited debts from the highway public corporations as well as incremental debts due to new construction of expressway assets. We commit to the steady and full repayment of the debts as well as maintaining the safety and high quality of expressway assets by working closely with the six expressway companies. The repayment scheme is based on utilization of the fees paid by the expressway companies for the lease of the expressway assets. Futher, in cooperation with the expressway companies, we exercise our authority as road administrator in a timely and appropriate manner to ensure the safe and efficient operation of the expressways.

  Interest rate rises are the most critical risk for long-term repayment schedules. We have managed this risk with careful effective liability management such as issuing ultra-long-term bonds during the recent historically low interest rate period in Japan. As a result, we have been outperforming the debt repayment with the current balance well below the original forecast.

  Through our website we actively disclose business and operational information such as debt repayment plans, performance comparison tables, annual maintenance reports, as well as the revenue and expenditure results of each route. Our conscientious disclosures exceed the statutory requirements to ensure the transparency and accountability of our operation.

  Since February 2017, a beltway around the Greater Tokyo area has newly linked Tomei, Chuo, Kan-etsu and Tohoku Expressways and Joban and Higashi Kanto Expressways by opening the beltway between Sakai-Koga and Tsukuba Chuo ICs. This paves the way for major distribution facilities en route to boost their production and is expected to help transform the area into a new industrial location. It is also expected to spawn positive development outcomes such as regionally expanded tourism.

  In addition, since June 2017, a modified expressway toll structure has been introduced in Kinki area, which realized a standardized toll structure and an integration of the administrative body. The new structure enables us to develop of the Yodogawa-Sagan Line extension and the western extension of the Osaka Bayshore Line.

  We will do our utmost to realize a successful and efficient operation of the expressway business to enrich everyone's lives. With your continuous support and guidance, every efforts will be made to meet our commitments.


Hiroki Watanabe

President,
Japan Expressway Holding and Debt Repayment Agency

April 2018