President's Message

Hiroki Watanabe - President
  Japan Expressway Holding and Debt Repayment Agency was established in October 2005 for the purpose of holding and leasing expressway assets as well as quickly and steadily repaying debts while facilitating the smooth execution of expressway projects by six privatized expressway companies within the privatization framework for the highway public corporations.

  Our role is to hold expressway assets and lease them to expressway companies in order to collect leasing fees and use the funds to repay, steadily and within the legally-designated timeframes, inherited debts from highway public corporations as well as newly-incurred debts from new expressway construction. Interest rates are the most critical risk for long-term repayment schedules. We are managing this risk with diverse and effective liability management (such as issuing ultra-long-term bonds) during the recent low interest rate period. As a result, we have managed to steadily pay down our outstanding debt from 38.2 trillion yen at the start of privatization to 27.2 trillion yen at the end of FY 2017.

  We also exert public authority on behalf of the original highway administrators in a timely and appropriate manner in order to take expressway safety to the next level and ensure that future generations can continue to enjoy safe, high-quality expressways. In addition, we work in conjunction with the national government and expressway companies to systematically implement measures to address aging highway infrastructure and seismic resistance while raising management standards.

  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 operations.

  In FY 2017, we opened the section along the Shin-Meishin Expressway between the Takatsuki junction/interchange and the Kobe junction, creating a double network for the Chugoku/Meishin route. This has proven to enhance traffic distribution and greatly reduce congestion; it was also a way to better predict travel times along the Chugoku Expressway/Meishin route. Going forward, we intend to branch out into wayside facilities, enhance core distribution routes and make them more convenient, stimulate tourism, and ensure redundancy in the event of a disaster.
  In June 2018, we also opened up the section along the Tokyo Outer Ring Road between the Misato-Minami interchange and the Koya junction, linking four radial roads (the Higashi-Kanto Expressway, Joban Expressway, Tohoku Expressway, and the Kan-etsu Expressway), opening up access between the Tokyo Bay area in Chiba and various parts of northern Kanto without going through urban districts̶which in turn should greatly shorten travel times. In the future, we intend to help streamline urban transport and boost logistics productivity, alleviate congestion in wayside areas (improving safety on everyday roads), and promote the flow of tourism throughout the region.
  The various benefits brought by these and other expressway facilities are helping to further bolster socioeconomic prosperity.

  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

January 2019