Metro-backed foundations face curbs

The Tokyo Metropolitan Government said Feb. 3 it has hammered out stricter guidelines to monitor the management of 70 selected organizations that are affiliated with the government.

It is a part of ongoing reform and streamlining efforts at the metropolitan government, which has been hit hard by financial shortages, metropolitan officials said. The metropolitan government also will try to cut the number of those bodies and their board members by 10 percent.

The 70 bodies include Tokyo Water Front Development Inc. and other companies that the metro government has jointly established with the private sector. The 70 bodies also include many foundations that get at least 25 percent of their funds from the metro government. For 47 of the 70 entities, the metro government is requiring that they establish specific annual targets to improve their finances and later report on whether those targets were met, the officials said.