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Characteristics of Japan Credit Information Reference Center Corp.

JICC has been progressing and diversifying as a credit information bureau that supports the sound development of the consumer credit industry, along with the creditworthiness of consumers, while maintaining the balance between the protection of privacy and the use of credit information.

As a result of the business merger in August 2009 with CCB Inc., a cross-industrial credit information bureau, JICC established its foundation as a credit information bureau that is the largest in Japan and the only one in the country to cover all industries.

Additionally, due to the designation in March 2010 by the Japanese Prime Minister as a designated credit information bureau pursuant to the Moneylending Control Act, JICC is now expected to make further progress as an important infrastructure of the consumer credit industry.

Society, Economy, Public
Administration and Industry
1950s ・Installment sales system gains
・The original form of unsecured
 conventional consumer financing
1960s ・Credit cards are issued for the first
 time in Japan.
・The Installment Sales Act is
 promulgated. (July 1961)
・Credit information agencies emerge in
 the sales credit sector.
・The Special Committee on Distribution
 under the Industrial Rationalization
 Council of the Ministry of
 International Trade and Industry
 proposes “The Need of Specialization
 in Consumer Credit
 Check” (June 1962)
 ⇒“While the goal is the establishment
 of comprehensive research
 organizations, the realistic approach
 for the initial stage is to establish
 organizations on a group-by-group
•11 consumer financing companies in
 Osaka establish Japan Consumer
 Finance Association (JCFA).
1970s ・Credit information agencies emerge in
 the finance sector.
・The problem of multiple consumer
 loans arises.
・Requests are made to protect privacy
 relating to credit information.
・A credit information agency for the
 consumer finance sector is established
 under JCFA. (August 1972)
・Lenders Exchange Federation in Japan
 [current Federation of Credit Bureau
 of Japan (FCBJ)] is established.
 (September 1976)
1980s ・The Council of the OECD issues the
 recommendation “Guidelines
 Governing the Protection of Privacy
 and Transborder Flows of Personal
 Data” comprising eight principles.
 (September 1980)
・The Moneylending Control Law is
 promulgated. (May 1983)
・The Installment Sales Act is amended.
 (April 1984)
・Exchange of information among credit
 information agencies is requested
 in order to prevent multiple consumer
・The Council of Three Information
 Agencies (Tri-Party Council) is
 established. (November 1983)
・33 information centers with FCBJ
 membership establish Japan
 Information Center. (Jun 1986)
・The Tri-Party commences operation
 of its information exchange system
 ⇒ Only information on the changes
 of status is exchanged. (March 1987)
1990s ・The unemployment rate increases as
 the impact of the collapse of the
 bubble economy surfaces.
・The number of personal bankruptcy
 filings exceeds 100,000.
・The multiple consumer loan problem
 recurs, and a phenomenon referred
 to as "card bankruptcy" occurs.
・Requests are made to the Tri-Party
 Council to expand the range of
 information exchange in order to
 resolve further problems relating
 to multiple consumer loans.
・A unified system for the
 standardization of registration
 criteria used by the 33 information
 centers with FCBJ membership,
 JACIN, goes into operation.
 (November 1991)
・National database unification system
 JACIN II goes into operation.
 (August 1997)
2000s ・The Act on Protection of Personal
 Information is legislated. (May 2003)
・The amended Money Lending Business
 Act is legislated. (December 2006)
・The amended Installment Sales Act
 is legislated. (June 2008)
 ⇒ The designated credit information
 agency system is established by the
 Money Lending Business Act and the
 Installment Sales Act.
・33 information centers with FCBJ
 membership establish credit
 information agency TERA-NET Corp.
 to serve as a database for members
 belonging to other business
 categories. (2000)
・A new system, STARS, goes into
 operation. (January 2003)
・Japan Information Center Corp. is
 ISMS certified. (April 2004)
・FCBJ acquired certification as a
 certified personal information
 protection group. (October 2005)