Cash Management Services in Japan

JMC offer extensive services to help foreign multinational companies to open a bank account in Japan and manage a Japanese bank account to make payments for Japan taxes, employee’s salaries and suppliers.

Cash Management Services

Cash Mangement Services JMC cash management services in Japan provides you all the services that you need to make payments in a secure way and control your finances.

JMC will provide you each month a payment forecast for the employees and suppliers to be paid

Once authorization is given for payments, JMC will proceed with registering wire transfer instructions with Japanese banks. The payment process is secure with at least a 2 steps process and double check. At least two different persons input the payment order and authorize it.

At the end of each month, or at a more convenient frequency like each week, an electronic bank statement in English is sent to the client.

Bank account opening for foreign company in Japan

JMC will help foreign company open a bank account with a major Japanese bank with Internet banking facility to pay employees, suppliers and taxes. In Japan, some restrictions apply on services that can be provided by foreign banks like Citibank or Bank of America, and it is often necessary to open a bank account with a major Japanese bank to do pay taxes.  Japanese banks provide Internet banking services but only in Japanese language. This is the reason why it is convenient to use JMC services to make your payments in Japan.

Japan bank account is operated by bank seals not through signatures

In Japan, the bank account of a company is operated by a seal registered with the bank often called the bank seal in conjunction with the bank book.

JMC advises not to use the official registered seal of the company to operate the bank account. The registered seal of the company “jitsuin” is very powerful and allows to make very important changes to the company such as changing the owners of the company and should be kept in a safe place.

As a consequence there are no signatories on Japanese bank account. The responsible for the use of the bank account is the representative of the company as registered on a certificate of incorporation of the company, presented to the bank during the opening of the account. The bank seal is also registered at the opening of the bank account. At opening of the bank account, the bank book is provided to the company.

Japan Bank balance certificates

JMC can help foreign companies to get bank balance certificates from Japanese banks at the closure of their fiscal year for audit purpose.

Security on Japanese bank account

The bank account and the bank seal allows to perform almost all operations on the bank account. As such they should be kept in a safe place. Note that Japanese bank rarely verify the identity of the person who is making a bank operation at the bank branch provided that this person holds the bank book and the bank seal.