[1] These bonds provide the issuer with an access to Japanese capital, which can be used for local investments or for financing operations outside Japan.
[5] At first, Asian Development Bank and other high credit supranational issuers were given an access priority to the market.
Those who were unable to meet eligibility criteria could finance yen through yen-denominated private placement bonds.
They were permitted to target a restricted number of institutional investments, and terms and liquidity were under close control.
[5] At that time, Samurai market gradually became accessible to more issuers through the alleviation of eligibility criteria, which now required minimum credit ratings, and through liberalization of new kinds of bonds.
[6] When examining applications from potential samurai issuers, the Ministry of Finance considered the tendency of the Japanese capital account balance and the liquidity in the country's economy.
For the actual issuance of Samurai bonds, the Japanese Ministry of Finance set a quota per quarter year, and employed a queue system.