Tanomoshiko

Source: Wikipedia, the free encyclopedia.

Tanomoshiko (also spelt Tanomoshi-ko or Tanomosiko) (Japanese: 頼母子講) ("reliable group")[1] is a variety of rotating savings and credit association (ROSCA) found in Japan. Historically they played a major role in economic life in Japan and among the Japanese diaspora, and still survive on an informal basis in some parts of the country.

Name

Tanomoshi or Tanomoshiko (頼母子講) has also been called mujin (無尽) or moai (模合) in Japan. The name may be derived from tanomu meaning begging, or from tayori ni naru mono meaning reliance.[2]

History

Tanomoshi, denoting a locally organized social finance scheme, has existed in Japan at least since the middle

social security when it was implemented in the early 20th century. The system also operated among Japanese immigrants to the United States and Brazil, helping them in establishing new businesses there.[4][6] Indeed while it diminished in Japan itself it remained of great importance to overseas Japanese communities.[3]

The institution went into decline after World War II, with the further growth of commercial banks and social security and the loosening of community bonds, but still exists in some parts of Japan.

Buraku communities.[7]

Current

Tanomoshi still functions in certain areas, especially

Okinawa. For example, in Okinawa prefecture, tanomoshi is active under the name of moai,[1] and a local currency
called Moai Cho has been sold in a stationery store (e.g., Editorial Team for Encyclopedia to Know Okinawa, 2000; Shimokawa, 2006). In Aizu region of Fukushima prefecture, tanomoshi called mujin has supported savings for leisure mainly in restaurants once a month (e.g., Kimura, 2001). However, in general, it is considered that traditional financial services based on mutual help and solidarity is not necessary anymore. Instead, consumer loans emerged as a new way to borrow money.

Most tanomoshiko are organized within a workplace or among friends. The members may use the funds built up to finance a trip or a banquet. It is most used by members of social minorities who are less prone to borrow money from financial institutions. The institution has little or no legal status.

References

  1. ^
    ISBN 978-1-4516-1052-9
    .
  2. ^ a b Sachiko Nakagawa, "A Role of Social Finance by a Cooperative: A Case Study of Green Coop Fukuoka, Japan", ACRN Journal of Finance and Risk Perspectives Special Issue of Social and Sustainable Finance, Vol. 4 Issue 3, July 2015, pp. 1–18. ISSN 2305-7394
  3. ^
    ISBN 978-0-19-981303-2
    .
  4. ^
    ISBN 978-0-8028-7053-7
    .
  5. ISBN 978-1-136-26906-6
    .
  6. ISBN 978-1-135-78765-3
    .
  7. ^ George A. De Vos; Hiroshi Wagatsuma (1972). Japan's Invisible Race: Caste in Culture and Personality. University of California Press. p. 173. GGKEY:A1TPE4UELKE.
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