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Education

University of Tokyo to raise $189m in first bond issuance

Easing of rules prompts Japan's educational institutes to seek private funding

The University of Tokyo. Universities in Japan are under growing pressure to upgrade their facilities to enhance their competitiveness in the higher education field.

TOKYO -- The University of Tokyo plans to raise 20 billion yen ($189 million) from its first ever bond issue, possibly in early October. The 40-year bond will be the first debt to be sold by a Japanese national university.

The university, widely seen as the most prestigious educational institution in Japan, will take advantage of a recent easing of regulations concerning bond issuance by national universities to raise money to improve its research facilities and build new ones.

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