Zaiteku

  A Japanese term. Originally (during the early 1970s), the term referred to the move by Japanese corporations away from traditional bank borrowing to direct fund raising by the issuance of new shares, convertibles and external bonds and also by utilising internally generated cash and new instruments developed by securities firms. Currently the term is defined as "financial technology", which is applied by Japanese corporations to their international activities. Corporations borrow funds in the international markets and subsequently profit by either "relending" in Japan, or "re- investing" abroad.