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Finance

Government weighs fate of floundering Cool Japan Fund

Cultural exports vehicle has lost $228m since its founding in 2013

The Cool Japan Fund, which opened in 2013, has posted a cumulative loss of $228 million as of the end of March. (Photo by Ken Kobayashi)

TOKYO -- Japan's government-backed Cool Japan Fund, an investment vehicle aimed at promoting the country's cultural exports and boosting inbound tourism, is attracting criticism for failing to achieve its objectives.

The Ministry of Finance on Monday posted a proposal to restructure the fund if it fails to improve its performance by the fall.

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