Compliance with the "Foreign Exchange and Foreign Trade Act"

Sony Bank ensures the implementation of economic sanctions under the Foreign Exchange and Foreign Trade Act (hereinafter referred to as the FEFTA) by verifying, pursuant to Article 17 of the FEFTA, that customer transactions are not subject to regulation under the FEFTA. If it cannot be confirmed that the transactions are not subject to regulation (or have been authorized or approved by the authorities), the transactions will be declined.
We appreciate your understanding and cooperation.

The main transactions subject to regulation under the FEFTA are as follows (excerpt):
Please note that various regulations under the FEFTA will be issued from time to time, so please check the Ministry of Finance website for the latest regulated transactions.

Ministry of Finance website (information is available only in Japanese)

Things in common
Transactions with individuals or entities subject to economic sanctions, such as an asset freeze
  • Transactions that are substantially for the benefit of sanctioned individuals or entities, whether directly or indirectly (including transactions conducted by sanctioned individuals or entities on behalf of third parties)
  • Transactions with corporations or other organizations that are substantially controlled by sanctioned individuals or entities (including transactions with organizations that are directly owned by certain sanctioned individuals or entities from Russia or Belarus and that own more than 50% of the total shares or capital)
Payments of funds for business activities to unincorporated foreign partnerships
Payments of funds for business activities abroad by associations or other organizations set up jointly with others (limited to businesses requiring prior notification for FDI, such as " Fishery", "Manufacture of leather or leather products", "Manufacture of weapons", "Manufacture of weapons manufacturing equipment", "Manufacture of narcotics", etc.)
North Korea
Payments to Individuals Resident in North Korea
Transactions where the final beneficiary (including the ultimate beneficial owner in the case of legal entities, etc.) is a resident of North Korea (including individuals and legal entities with an address or registered office in North Korea).
"Regulation on trade-related payment" concerning North Korea
  • All imports or intermediary trade involving goods originating in or shipped from North Korea
  • Intermediary trade involving goods destined for North Korea
"Regulations on the purpose of use of funds" concerning North Korea
Activities intended to contribute to North Korea's nuclear-related programs, etc.
Iran
"Regulations on the purpose of use of funds" concerning Iran
Activities intended to contribute to Iran's nuclear activities
"Capital transaction" concerning Iran
Transactions related to investment by Iranian entities in Japan's nuclear technology companies
Russia and Belarus
"Regulations on Foreign Direct Investment" for Russia
  • Payment of funds for business activities conducted in the Russian Federation (including payments by a resident to be used for business activities in Russia by a partnership or other organization jointly established by the resident and other companies)
  • Payment of funds for business activities outside the Russian Federation involving Russian companies, etc. (including payments by a resident to be used for business activities in Russia by a partnership or other organization established jointly by the resident and other companies)
"Regulations on service transactions" for Russia and Belarus
  • Providing Regulated Technology to Russia & Belarus
  • Providing technology to certain entities in Russia & Belarus
  • Providing certain services or benefits related to accounting, auditing, management consulting, architecture and engineering to Russian entities, etc.
"Securities Trading Regulations" concerning Russia
  • Transactions involving the acquisition or transfer of securities issued by the Russian government or other government agencies, etc.
  • Transactions related to the issuance or offering of securities in Japan by the Russian government or other government agencies, etc. (including the provision of work or services in connection therewith)
  • Transactions related to the issuance or offering of securities in Japan (including the provision of work or services in connection therewith) by certain banks in Russia
"Regulations on capital transactions" related to the price cap on Russian crude oil, etc.
Prohibition on transactions related to the occurrence of claims under loan agreements or debt guarantee agreements in connection with the purchase of crude oil, etc., originating in Russia and transported by sea, in excess of the price cap

As of April, 2024