The Potentialities for the International Business Expansion of Non-Profit Organization with Intangible Securities : From the Perspective of the Former Organization of Japan Sumo Association

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  • 無形資産証券を用いた非営利組織による国際事業展開の可能性 : 旧財団法人日本相撲協会の事例から
  • ムケイ シサン ショウケン オ モチイタ ヒエイリ ソシキ ニ ヨル コクサイ ジギョウ テンカイ ノ カノウセイ : キュウ ザイダン ホウジン ニホン スモウ キョウカイ ノ ジレイ カラ

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The purpose of this paper is to explore the new model of non-profit organizational function in international business by applying the system of the former organization of Japan Sumo Association. We especially focus on two of essentially unique characteristics: a system of quasi-stock ownership called “Toshiyori-Meiseki” and the organizational dual-structure composed of contrary partnership and foundation which Japan Sumo Association adopted. As for the existing certificate of Toshiyori-Meiseki, once candidates for Toshiyori hold the quasi-stock by mutual transaction for a consideration, they can engage in the foundational operation and receive remunerations from Japan Sumo Association. In this point, we regard the certificate of Toshiyori-Meiseki as anomalistic Asset-Backed Securities (ABS). We then claim the potentialities for non-profit organization based on the intangible assets securitization scheme that newly creates the organizational decision-making function by holding financial securities with economic rewards, executive power, voting right and so forth. In the following part, we suggest such General Foundational Corporations as could do not only not-for-profit or public interest activities but also commercial ones because there are no restrictions on the nature of business would be actually able to establish in Japan. Finally, we tried to argue the affinity of intangible assets securitization scheme for either foundations or foundational corporations. Further, the practical aspect of this scheme is pointed out as a worthy of further study.

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