Hokkaido Takushoku Bank

The Hokkaidō Takushoku Bank, Ltd., literally Hokkaidō Exploitation Bank, was a major commercial bank in Japan, founded in 1899 as a "Special Bank" to promote capitalism on the island of Hokkaidō. Its nickname was Takugin; it was also known in the media and business world as Hokutaku. It was the City Bank in its stronghold of Hokkaidō until it went bankrupt in November 1997, and the following year it transferred its business to the North Pacific Bank, which is another bank in Hokkaidō, and others. Its unified financial institution code was 0012. On the announcement of the "agriculture and industry banking law" in 1896, "agriculture and industry banks" were set up in 46 prefectures throughout Japan. Hokkaidō was thought to be in the forefront as a prime candidate for economic exploitation, and instead of an agriculture and industry bank, a special "national policy bank" was deemed necessary. For this purpose, the Hokkaidō Takushoku Bank was established in 1899, and was incorporated as a "special bank" on February 2, 1900, providing long-term low-interest loans as capital for Hokkaidō's development. The target of these loans was not just the improvement of industry and agriculture; it also had as its object the key industries of fishing and those related to the further exploitation of Hokkaidō. As a result, since Takugin acted as a replacement for certain similar types of bank, the "agriculture and industry" bank, the Nippon Kangyo Bank and the Industrial Bank of Japan, it was not until after World War II that Hokkaidō increased its representation in these sectors. In 1939 there was an amendment to the Hokkaidō Takushoku Bank law, allowing the bank, which thus far had performed only long-term financing based on debt issuance, to handle bank accounts and offer short-term finance. Now performing simultaneously the roles of ordinary bank and savings bank, Takugin dramatically increased its scale of operations. Finally in the wartime unification, all banks relating to Hokkaidō and Karafuto, ordinary banks and savings banks, were merged.