Obligation Japan International Cooperation Bank 2% ( US471048CF32 ) en USD

Japan International Cooperation Bank

91.39 % ▼

Japon

US471048CF32 ( en USD )

2% par an ( paiement semestriel )

16/10/2029

Prospectus brochure de l'obligation Japan Bank for International Cooperation US471048CF32 en USD 2%, échéance 16/10/2029

471048CF3

17/04/2026 ( Dans 126 jours )

La Japan Bank for International Cooperation (JBIC) est une banque publique japonaise qui fournit des financements et une assistance pour des projets d'infrastructure et de développement à l'étranger, contribuant ainsi à la coopération économique internationale du Japon.

L'Obligation émise par Japan International Cooperation Bank ( Japon ) , en USD, avec le code ISIN US471048CF32, paye un coupon de 2% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 16/10/2029

PROSPECTUS SUPPLEMENT TO SEC BASE PROSPECTUS DATED
July 5, 2017
Japan Bank for International Cooperation
(Incorporated under the Japan Bank for International Cooperation Act)
U.S.$1,000,000,000 1.625% Guaranteed Bonds Due 2022
U.S.$1,000,000,000 1.750% Guaranteed Bonds Due 2024
U.S.$1,000,000,000 2.000% Guaranteed Bonds Due 2029
Unconditionally and Irrevocably Guaranteed
as to Payment of Principal and Interest by
Japan
We will pay interest on the $1,000,000,000 1.625% guaranteed bonds due 2022 (the "3-year bonds), the $1,000,000,000 1.750%
guaranteed bonds due 2024 (the "5-year bonds") and the $1,000,000,000 2.000% guaranteed bonds due 2029 (the "10-year bonds", and
together with the 3-year bonds and the 5-year bonds, the "bonds") semi-annually in arrears in equal payments on October 17 and April 17 of
each year, commencing April 17, 2020. The 3-year bonds will mature on October 17, 2022, the 5-year bonds will mature on October 17, 2024
and the 10-year bonds will mature on October 17, 2029. We may redeem all, but not less than all, of the bonds of a series in the event of
certain tax law changes. The redemption terms are described in this prospectus supplement dated October 8, 2019 (this "Supplement") under
"Description of the Bonds and Guarantee--Redemption". The bonds will be issued only in registered form in denominations of $200,000 and
integral multiples of $2,000 in excess thereof. See "Description of the Bonds and Guarantee".
As provided under the heading "Luxembourg Stock Exchange Approved Prospectus" starting on page S-5 of this Supplement, subject to
approval by the Luxembourg Stock Exchange, certain parts (but not all) of this Supplement and the accompanying prospectus dated July 5, 2017
starting after page S-45 (the "SEC Base Prospectus"), as well as the documents incorporated by reference into this Supplement or the SEC Base
Prospectus, constitute a prospectus for the purposes of the Luxembourg law dated July 16, 2019. The parts of this Supplement and the SEC Base
Prospectus and those documents incorporated by reference into this Supplement that together constitute a "prospectus" for the purposes of the
Luxembourg Act are referred to herein as the "LSE Approved Prospectus" and are identified under the heading "Luxembourg Stock Exchange
Approved Prospectus" starting on page S-5 of this Supplement.
Application has been made to admit the bonds to the official list of the Luxembourg Stock Exchange and application has been made to
admit the bonds to trading on the Luxembourg Stock Exchange's Euro MTF Market (the "Euro MTF Market"). The Euro MTF Market is not
a regulated market for the purposes of Directive 2004/39/EC of the European Parliament and of the Council on markets in financial
instruments or for the purposes of the Markets in Financial Instruments Directive 2014/65/EU ("MiFID II"). References in this prospectus to
the bonds being "listed" (and all related references) shall mean that the bonds have been admitted to the official list of the Luxembourg Stock
Exchange and admitted to trading on the Euro MTF Market.
Our credit ratings have been issued by Moody's Japan K.K. ("Moody's") and S&P Global Ratings Japan Inc. ("S&P"), neither of which
are established or registered in the European Union and neither of which are registered under Regulation (EC) No. 1060/2009 of the European
Parliament and of the Council of September 16, 2009 on credit rating agencies (the "CRA Regulation"), but such credit ratings have been
endorsed by Moody's Investors Service Ltd. ("Moody's Europe") and Standard & Poor's Credit Market Services Europe Limited ("S&P
Europe"), respectively, each of which is an entity established in the European Union and registered under the CRA Regulation. Under the
CRA Regulation, certain investors may generally only use a credit rating for regulatory purposes in the European Union if the credit rating is
issued by a credit rating agency in the European Union and registered in accordance with the CRA Regulation (or is endorsed and published
or distributed by subscription by such a credit rating agency in accordance with the CRA Regulation), unless the credit rating is issued by a
credit rating agency operating in the European Union before June 7, 2010 which has submitted an application for registration under the CRA
Regulation that has not been refused.
Neither the United States Securities and Exchange Commission (the "Commission") nor any other regulatory body has approved
or disapproved of these securities or passed upon the accuracy or adequacy of this Supplement or the SEC Base Prospectus. Any
representation to the contrary is a criminal offense.
Prospective investors should consider carefully the factors described under the section headed "Risk Factors" in this
Supplement.
Per 3-year Bond
Per 5-year Bond
Per 10-year Bond
Total
Price to Public(1) . . . . . . . . . . . . . . . . . . . . . . . .
99.723%
99.933%
99.973%
$2,996,290,000
Underwriting Discount . . . . . . . . . . . . . . . . . . .
0.100%
0.125%
0.175%
$
4,000,000
Proceeds, before expenses, to JBIC(1)(2) . . . . . .
99.623%
99.808%
99.798%
$2,992,290,000
(1) Plus accrued interest, if any, from October 17, 2019, if settlement occurs after that date.
(2) See "Underwriting".
The underwriters are offering the bonds subject to various conditions. The underwriters expect to deliver the bonds through the book-
entry facilities of The Depository Trust Company ("DTC"), Euroclear Bank SA/NV ("Euroclear") and Clearstream Banking S.A.
("Clearstream"), against payment on or about October 17, 2019.
J.P. Morgan
Barclays
BofA Merrill Lynch
Morgan Stanley
Prospectus Supplement dated October 17, 2019.

TABLE OF CONTENTS
Supplement
Page
Foreign Exchange Considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-6
Incorporation by Reference . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-7
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-8
Risk Factors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-10
Recent Developments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-12
Summary Financial Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-17
Use of Proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-22
Description of the Bonds and Guarantee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-23
Global Clearance and Settlement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-30
Taxation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-33
Underwriting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-39
Validity of Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-42
Authorized Agents in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-42
General Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S-43
SEC Base Prospectus
About This Prospectus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
ii
Where You Can Find More Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
Japan Bank for International Cooperation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
Japan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
26
Financial System . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
48
Government Finance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
52
Use of Proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
68
Description of the Debt Securities and Guarantee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
69
Plan of Distribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
78
Authorized Agents in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
79
Validity of Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
79
Further Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
79
S-2

The bonds have not been and will not be registered under the Financial Instruments and Exchange
Act of Japan (Act No. 25 of 1948, as amended) and the bonds are subject to the Act on Special Measures
Concerning Taxation of Japan (Act No. 26 of 1957, as amended). The bonds may not be offered or
sold in Japan or to, or for the benefit of, residents of Japan or Japanese corporations, except pursuant
to an exemption from the registration requirements of, and otherwise in compliance with, the
Financial Instruments and Exchange Act of Japan and any other applicable laws, regulations and
ministerial guidelines of Japan (see "Underwriting" below). The bonds are not, as part of the
distribution under the underwriting agreement at any time, to be offered or sold to, or for the benefit of,
any person other than a beneficial owner that is, (i) for Japanese tax purposes, neither (x) an individual
resident of Japan or a Japanese corporation, nor (y) an individual non-resident of Japan or a non-
Japanese corporation that in either case is a person having a special relationship with JBIC (that is, in
general terms, a person who directly or indirectly controls or is directly or indirectly controlled by, or is
under direct or indirect common control with, JBIC) as described in Article 6, Paragraph (4) of the Act
on Special Measures Concerning Taxation of Japan (a "Specially-Related Party of JBIC") or (ii) a
Japanese financial institution, designated in Article 6, Paragraph (9) of the Act on Special Measures
Concerning Taxation of Japan. BY SUBSCRIBING FOR THE BONDS, AN INVESTOR WILL BE
DEEMED TO HAVE REPRESENTED IT IS A PERSON WHO FALLS INTO THE CATEGORY OF
(i) OR (ii) ABOVE.
In addition, interest payments on the bonds will generally be subject to Japanese withholding tax
unless it is established that bonds are held by or for the account of a beneficial owner that is (i) for
Japanese tax purposes, neither (x) an individual resident of Japan or a Japanese corporation, nor (y) an
individual non-resident of Japan or a non-Japanese corporation that in either case is a Specially-Related
Party of JBIC, (ii) a designated Japanese financial institution described in Article 6, Paragraph (9) of the
Act on Special Measures Concerning Taxation of Japan which complies with the requirement for tax
exemption under that paragraph, or (iii) a Japanese public corporation, financial institution or financial
instruments business operator, etc. described in Article 3-3, Paragraph (6) of the Act on Special Measures
Concerning Taxation of Japan which complies with the requirement for tax exemption under that
paragraph.
You should rely only on the information contained or incorporated by reference in this Supplement
and the SEC Base Prospectus and, for the purposes of the LSE Approved Prospectus, the documents
incorporated by reference therein. We have not authorized anyone to provide you with different
information. We are not making an offer of these securities in any jurisdiction where the offer is not
permitted. You should not assume that the information contained in or incorporated by reference in the
LSE Approved Prospectus or otherwise in this Supplement or the SEC Base Prospectus is accurate as of
any date other than the date on the front page of this Supplement or, with respect to information
incorporated by reference, as of the date of such information.
In this Supplement, "we", "our", "us" and "JBIC" refer to Japan Bank for International
Cooperation.
The spot buying rate for U.S. dollars quoted on the Tokyo foreign exchange market on October 8, 2019, as
reported by the Bank of Japan (the "BOJ") at 5:00 p.m., Tokyo time, was ¥107.45 = $1.00, and the noon buying
rate on October 4, 2019 for cable transfers in New York City payable in yen, as reported by the Federal Reserve
Bank of New York, was $1.00 = ¥106.91.
References in this Supplement to Japanese fiscal years ("JFYs") are to 12-month periods commencing in
each case on April 1 of the year indicated and ending on March 31 of the following year. References to years not
specified as being JFYs are to calendar years. References to "¥"or "yen" are to Japanese yen and references to
"$" are to U.S. dollars.
The distribution of this Supplement and the SEC Base Prospectus and the offering of the bonds in certain
jurisdictions may be restricted by law. The bonds are not intended to be offered, sold or otherwise made available
S-3

to and should not be offered, sold or otherwise made available to any retail investor in the European Economic
Area (the "EEA"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client
as defined in point (11) of Article 4(1) of MiFID II; (ii) a customer within the meaning of Directive (EU)
2016/97 ("IDD"), where that customer would not qualify as a professional client as defined in point (10) of
Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Regulation (EU) 2017/1129 (the
"Prospectus Regulation"). Consequently no key information document required by Regulation (EU) No
1286/2014 (the "PRIIPs Regulation") for offering or selling the bonds or otherwise making them available to
retail investors in the EEA has been prepared and therefore offering or selling the bonds or otherwise making
them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation. This Supplement
and the SEC Base Prospectus do not constitute, and may not be used in connection with, an offer or solicitation
by anyone in any jurisdiction in which such offer or solicitation is not authorized or in which the person making
such offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make such offer or
solicitation. See "Underwriting".
This Supplement and the SEC Base Prospectus have been prepared on the basis that all offers of bonds in any
Member State of the EEA will be made pursuant to an exemption under the Prospectus Regulation from the
requirement to produce and publish a prospectus for offers of the bonds. Accordingly, any person making or
intending to make any offer in a Member State of the bonds which are the subject of the placement referred to in
this Supplement and the SEC Base Prospectus may only do so in circumstances in which no obligation arises for
JBIC or the Underwriters to produce and publish a prospectus pursuant to Article 3 of the Prospectus Regulation, or
supplement a prospectus pursuant to Article 23 of the Prospectus Regulation, in relation to such offer. Neither JBIC,
Japan nor the underwriters have authorized, nor do they authorize, the making of any offer of the bonds in
circumstances in which an obligation arises for JBIC or the underwriters to publish a prospectus or supplement a
prospectus for such offer. JBIC and Japan have not authorized and do not authorize the making of any offer of the
bonds through any financial intermediary, other than offers made by the underwriters resulting in sales constituting
the final placement of the bonds contemplated in this Supplement and the SEC Base Prospectus.
Solely for the purposes of each manufacturer's product approval process, the target market assessment in
respect of the bonds has led to the conclusion that: (i) the target market for the bonds is eligible counterparties
and professional clients only, each as defined in MiFID II; and (ii) all channels for distribution of the bonds to
eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or
recommending the bonds (a "distributor"), should take into consideration the manufacturers' target market
assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market
assessment in respect of the bonds (by either adopting or refining the manufacturers' target market assessment)
and determining appropriate distribution channels.
IN THE UNITED KINGDOM, THIS SUPPLEMENT AND THE SEC BASE PROSPECTUS ARE
FOR DISTRIBUTION ONLY TO PERSONS WHO (I) HAVE PROFESSIONAL EXPERIENCE IN
MATTERS RELATING TO INVESTMENTS WHO FALL WITHIN ARTICLE 19(5) OF THE
FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005, AS
AMENDED (THE "ORDER"); (II) ARE PERSONS WHO FALL WITHIN ARTICLE 49(2)(A)-(D) OF
THE ORDER OR (III) ARE PERSONS TO WHOM AN INVITATION OR INDUCEMENT TO
ENGAGE IN AN INVESTMENT ACTIVITY (WITHIN THE MEANING OF SECTION 21 OF THE
FINANCIAL SERVICES AND MARKETS ACT 2000 ("FSMA")) IN CONNECTION WITH THE ISSUE
OR SALE OF ANY BONDS MAY OTHERWISE BE LAWFULLY COMMUNICATED OR CAUSE TO
BE COMMUNICATED (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT
PERSONS"). IN THE UNITED KINGDOM THIS SUPPLEMENT AND THE SEC BASE PROSPECTUS
AND ANY OF THEIR CONTENTS ARE DIRECTED ONLY AT RELEVANT PERSONS AND MUST
NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. IN THE
UNITED KINGDOM, ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS
SUPPLEMENT AND THE SEC BASE PROSPECTUS RELATE IS AVAILABLE ONLY TO
RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS.
S-4

IN CONNECTION WITH THE ISSUE OF THE BONDS, BARCLAYS BANK PLC (THE
"STABILIZING MANAGER") (OR ANY PERSONS ACTING ON BEHALF OF THE STABILIZING
MANAGER) MAY OVER-ALLOT THE BONDS OR EFFECT TRANSACTIONS WITH A VIEW TO
SUPPORTING THE MARKET PRICE OF THE BONDS AT A LEVEL HIGHER THAN THAT WHICH
MIGHT OTHERWISE PREVAIL. HOWEVER, THERE IS NO ASSURANCE THAT THE
STABILIZING MANAGER (OR PERSONS ACTING ON BEHALF OF THE STABILIZING
MANAGER) WILL UNDERTAKE STABILIZATION ACTION. ANY STABILIZATION ACTION MAY
BEGIN ON OR AFTER THE DATE ON WHICH ADEQUATE PUBLIC DISCLOSURE OF THE
TERMS OF THE OFFER OF THE BONDS IS MADE AND, IF BEGUN, MAY BE ENDED AT ANY
TIME, BUT IT MUST END NO LATER THAN THE EARLIER OF 30 DAYS AFTER THE ISSUE
DATE OF THE BONDS AND 60 DAYS AFTER THE DATE OF THE ALLOTMENT OF THE BONDS.
ANY STABILIZATION ACTION OR OVER-ALLOTMENT MUST BE CONDUCTED BY THE
STABILIZING MANAGER (OR PERSONS ACTING ON BEHALF OF THE STABILIZING
MANAGER) IN ACCORDANCE WITH ALL APPLICABLE LAWS AND RULES.
Luxembourg Stock Exchange Approved Prospectus
Subject to approval by the Luxembourg Stock Exchange, this Supplement and the SEC Base Prospectus
starting after page S-45 including the following documents incorporated by reference:
·
the Annual Report on Form 18-K of Japan for the year ended March 31, 2019 (the "Japan 18-K 2019"); and
·
JBIC's Annual Report on Form 18-K for the year ended March 31, 2019 (the "JBIC 18-K 2019")
which is otherwise incorporated into this Supplement and the SEC Base Prospectus.
but excluding the following:
·
the section "Where You Can Find More Information" in the SEC Base Prospectus,
together comprise the LSE Approved Prospectus and for the purpose of giving information with regard to us,
Japan and our bonds which, according to the particular nature of us, Japan and our bonds, is necessary to enable
investors to make an informed assessment of our and Japan's assets and liabilities, financial position, profit and
losses and prospects, and of the rights attaching to our bonds and the guarantee. This LSE Approved Prospectus
may only be used for this foregoing purpose.
Responsibility for Statements
We accept responsibility for the information contained in the LSE Approved Prospectus. To the best of our
knowledge (having taken all reasonable care to ensure that such is the case) the information contained in the LSE
Approved Prospectus is in accordance with the facts and contains no omission likely to affect its import.
Japan accepts responsibility for the information contained in the LSE Approved Prospectus relating to Japan
and the guarantee. To the best of Japan's knowledge (having taken all reasonable care to ensure that such is the
case) the information contained in the LSE Approved Prospectus relating to Japan and the guarantee is in
accordance with the facts and contains no omission likely to affect its import.
S-5

FOREIGN EXCHANGE CONSIDERATIONS
For an investor that is not resident in the United States or does not conduct business or activities in the
United States, an investment in the bonds, which are denominated in, and all payments in respect of which are to
be made in, U.S. dollars entails significant risks not associated with a similar investment in a security
denominated in the investor's home currency (i.e., the currency of the country in which the investor is resident or
the currency in which the investor conducts its business or activities). These include the possibility of:
·
significant changes in rates of exchange between the home currency and the U.S. dollar; and
·
the imposition or modification of foreign exchange controls with respect to the U.S. dollar.
We have no control over a number of factors affecting this type of bond, including economic, financial and
political events that are important in determining the existence, magnitude and longevity of these risks and their
results. In recent years, rates of exchange for certain currencies, including the U.S. dollar, have been volatile and
this volatility may be expected to continue in the future. Fluctuations in any particular exchange rate that have
occurred in the past are not necessarily indicative of fluctuations in the rate that may occur during the term of the
bonds. Depreciations of the U.S. dollar against the investor's home currency could result in a decrease in the
investor's effective yield of the bonds below the coupon rate, and in certain circumstances, could result in a loss
to such purchaser on a home currency basis.
The description of foreign currency risks does not describe all the risks of an investment in securities
denominated in a currency other than your home currency. Prospective investors should consult their own
financial and legal advisors as to the risks involved in an investment in such bonds.
S-6

INCORPORATION BY REFERENCE
The Japan 18-K 2019 and JBIC 18-K 2019 are hereby incorporated by reference and form part of this
Supplement.
Any statement contained in a document which is incorporated by reference in the LSE Approved Prospectus
or otherwise in this Supplement or the SEC Base Prospectus shall be deemed to be modified or superseded for
the purpose of the LSE Approved Prospectus or this Supplement to the extent that a statement contained herein
or another document incorporated by reference herein modifies or supersedes such earlier statement (whether
expressly, by implication or otherwise). Any statement so modified or superseded shall not be deemed, except as
so modified or superseded, to constitute a part of the LSE Approved Prospectus or this Supplement. Copies of the
documents incorporated by reference in the LSE Approved Prospectus or otherwise in this Supplement or the
SEC Base Prospectus are available free of charge at the office of the fiscal agent in London, and will also be
available at the website of the Luxembourg Stock Exchange (www.bourse.lu).
The following audited financial statements of JBIC for the fiscal year ended March 31, 2019, prepared in
accordance with accounting principles generally accepted in Japan ("Japanese GAAP"), appear on the pages of
the JBIC 18-K 2019 as set forth below:
(a) Consolidated statements of operations
Set forth on page 3 of Exhibit 2 of the JBIC 18-K 2019
(b) Consolidated balance sheets
Set forth on page 2 of Exhibit 2 of the JBIC 18-K 2019
(c) Consolidated statements of cash flows
Set forth on page 7 of Exhibit 2 of the JBIC 18-K 2019
For the purposes of the LSE Approved Prospectus, the information incorporated by reference from the
Japan 18-K 2019 includes the following items in relation to Japan (the page numbers below are those of Exhibit 1
to such Annual Report):
Items
Japan 18-K 2019 - Exhibit 1 (Description of Japan)
Geographical location and legal form
"General--Area and Population", "General--
Government" and "General--Political Parties" on
pages 4-5
Description of the economy
"The Economy" on pages 8-19
Description of the political system and government
"General--Government", "General--Political
Parties" and "General--Leadership" on pages 4-5
Tax and budgetary systems
"Government Finance" on pages 30-36
Gross public debt and debt record
"Debt Record", "Japan's Public Debt", "Internal
Debt" and "External Debt" on pages 36-42
Foreign trade and balance of payments
"Foreign Trade and Balance of Payments--Foreign
Trade" and "Foreign Trade and Balance of
Payments--Balance of Payments" on pages 20-23
Foreign exchange reserves
"Foreign Trade and Balance of Payments--Balance
of Payments--Official Reserve Assets" on page 23
Financial position and resources
"Government Finance" on pages 30-36
Income and expenditure figures
"Government Finance" on pages 30-36
Auditing Procedures
"Government Finance--Revenues, Expenditures and
Budgets" on pages 30-34
S-7

INTRODUCTION
The following is an abstract of certain information contained elsewhere in this Supplement or the SEC Base
Prospectus or incorporated by reference herein. More detailed information is contained elsewhere in this
Supplement or the SEC Base Prospectus or incorporated by reference herein. You should read carefully this
entire Supplement, the SEC Base Prospectus and the other documents we refer to for a complete understanding
of this offering.
Issuer . . . . . . . . . . . . . . . . . . . . . . . . . . . Japan Bank for International Cooperation.
Issue Date . . . . . . . . . . . . . . . . . . . . . . . . The issue date is October 17, 2019.
Securities Offered . . . . . . . . . . . . . . . . . $1,000,000,000 principal amount of 1.625% Guaranteed Bonds Due
2022.
$1,000,000,000 principal amount of 1.750% Guaranteed Bonds Due
2024.
$1,000,000,000 principal amount of 2.000% Guaranteed Bonds Due
2029.
Guarantee . . . . . . . . . . . . . . . . . . . . . . . . Payments of principal of and interest on the bonds are unconditionally
and irrevocably guaranteed by Japan.
Maturity Date . . . . . . . . . . . . . . . . . . . . 3-year bonds: October 17, 2022.
5-year bonds: October 17, 2024.
10-year bonds: October 17, 2029.
Interest Payment Dates . . . . . . . . . . . . . Semi-annually on October 17 and April 17 of each year, commencing
April 17, 2020.
Interest Rate . . . . . . . . . . . . . . . . . . . . . . The 3-year bonds, the 5-year bonds and the 10-year bonds will bear
interest at a rate of 1.625%, 1.750% and 2.000% respectively, per annum,
accruing from October 17, 2019. We will pay interest on the bonds semi-
annually in arrears in equal payments. Whenever it is necessary to
compute any amount of interest in respect of the bonds, that interest will
be calculated on the basis of a 360-day year of twelve 30-day months.
Ranking . . . . . . . . . . . . . . . . . . . . . . . . . The bonds will be our direct, unsecured debt securities obligations and
rank pari passu and be payable without any preference among
themselves and at least equally with all of our other unsecured debt
securities obligations from time to time outstanding, which rank senior
to our unsecured general obligations not represented by debt securities,
provided, however, that certain obligations in respect of national and
local taxes and certain preferential rights granted by, among others, the
Japanese Civil Code to certain specified types of creditors, such as
preferential rights of employees to wages, will have preference.
Additional Amounts . . . . . . . . . . . . . . . If certain taxes, as described under "Description of the Bonds and
Guarantee", are payable on the bonds, we will, subject to certain
exceptions, pay such additional amounts on the bonds as will result,
after deduction or withholding of such taxes, in the payment of the
amounts that would have been payable on the bonds if no such
deduction or withholding had been required. For further detail on the
payment of these additional amounts, see "Description of the Bonds
and Guarantee--Additional Amounts".
Redemption . . . . . . . . . . . . . . . . . . . . . . . We may redeem all, but not less than all, of the bonds of a series in the
event of certain changes relating to Japanese taxation at 100% of the
principal amount thereof plus accrued interest thereon and any additional
amounts we are required to pay, as described under "Description of the
Bonds and Guarantee--Redemption".
S-8

Markets . . . . . . . . . . . . . . . . . . . . . . . . . . We are offering the bonds for sale only in those jurisdictions other than
Japan (subject to certain exceptions) where it is legal to make such offers.
See "Underwriting" for a description of applicable selling restrictions.
Listing . . . . . . . . . . . . . . . . . . . . . . . . . . . We have applied to the Luxembourg Stock Exchange for the bonds to be
listed on its official list and for the bonds to be admitted to trading on its
Euro MTF Market.
Form and Settlement . . . . . . . . . . . . . . . All bonds will be in registered form, without interest coupons attached.
Bonds held outside the United States, referred to as the international
bonds, will be represented by beneficial interests in the international
global bond, which will be registered in the name of the nominee of the
common depositary for, and in respect of interests held through,
Euroclear and Clearstream. Bonds held within the United States, referred
to as the DTC bonds, will be represented by beneficial interests in one or
more DTC global bonds, which will be registered in the name of Cede &
Co., as the nominee of DTC. Except as described in this Supplement,
beneficial interests in the global bonds will be represented through book-
entry accounts of financial institutions acting on behalf of beneficial
owners as direct and indirect participants in DTC, Euroclear and
Clearstream, and owners of beneficial interests in the global bonds will
not be entitled to have bonds registered in their names, will not receive or
be entitled to receive bonds in definitive form and will not be considered
holders of bonds under the fiscal agency agreement relating to the bonds.
The bonds will be sold only in denominations of $200,000 and integral
multiples of $2,000 in excess thereof. For further information on book-
entry procedures, see "Description of the Bonds and Guarantee--Form,
Denominations and Registration".
Investors electing to hold their bonds through DTC will follow the
settlement practices applicable to U.S. corporate debt obligations. The
securities custody accounts of investors will be credited with their
holdings against payment in same-day funds on the settlement date.
Investors electing to hold their bonds through Euroclear or Clearstream
accounts will follow the settlement procedures applicable to conventional
eurobonds in registered form. Bonds will be credited to the securities
custody accounts of Euroclear holders and of Clearstream holders against
payment in same-day funds on the settlement date. For information on
secondary market trading, see "Global Clearance and Settlement--
Secondary Market Trading".
Fiscal Agent, Principal Paying Agent
and Transfer Agent . . . . . . . . . . . . . . MUFG Bank, Ltd., London Branch, also acting through MUFG Union
Bank, N.A.
The security numbers for the bonds are:
For the DTC global bond:
3-year bonds
5-year bonds
10-year bonds
CUSIP No.: . . . . . . . . . . . . . . . .
471048 CB2
471048 CD8
471048 CF3
ISIN: . . . . . . . . . . . . . . . . . . . . . .
US471048CB28 US471048CD83 US471048CF32
Common Code: . . . . . . . . . . . . .
111730474
111730482
111730440
For the international global bond:
ISIN: . . . . . . . . . . . . . . . . . . . . . .
XS2010040637 XS2010040553 XS2010039621
Common Code: . . . . . . . . . . . . .
201004063
201004055
201003962
Legal Entity Identifier . . . .
549300TJ3QFYVCTSCJ29
S-9

RISK FACTORS
We believe that the following factors may affect our ability to fulfil our obligations under our bonds. All of
these factors are contingencies which may or may not occur and we are not in a position to express a view on the
likelihood of any such contingency occurring.
Factors which we believe may be material for the purpose of assessing the market risks associated with our
bonds are also described below.
We believe that the factors described below represent the principal risks inherent in investing in our bonds.
Prospective investors should carefully consider these factors in conjunction with the detailed information set out
elsewhere in this Supplement and the SEC Base Prospectus (including any documents or information
incorporated by reference herein) or, for the purposes of the LSE Approved Prospectus, the detailed information
set out elsewhere in the LSE Approved Prospectus (including any documents incorporated therein), and reach
their own views prior to making any investment decision.
Risks Relating to the Japanese Economy in General
Prospective investors in our bonds should be aware of the challenges faced by the Japanese economy in
general. Japan's economy continues to face challenges due to prolonged deflation and uncertainty about the
economic prospects of certain emerging countries and the world economy more generally. The Japanese
economy is also exposed to uncertainty in geopolitical conditions, including tensions with North Korea and
continued instability in the Middle East, as well as in international trade relations.
Although the Japanese government and the BOJ are pursuing expansionary monetary and fiscal measures in
an effort to counter deflation and have proposed structural reforms to complement such stimulus measures,
including the BOJ's introduction of a negative interest rate policy in February 2016 and its announcement of a
strengthened framework for quantitative and qualitative monetary easing in September 2016, the full effects of
such reform efforts remain unclear. Even though Japan's real gross domestic product ("GDP") has grown
moderately on a year-over-year basis since 2016, the impact of the increase in the consumption tax rate to 10% in
October 2019 on the Japanese economy and government finances is uncertain. Further challenges for the
Japanese economy include volatile exchange rates and, over the long term, demographic challenges, such as an
aging workforce and population decrease, and high levels of public debt and associated debt servicing payments.
Further slowdowns in overseas economies and sharp fluctuations in the financial and capital markets also pose
downside risks to the Japanese economy.
Risks Relating to Us
The Japan Bank for International Cooperation Act, as amended (the "JBIC Act"), requires the Japanese
government, at all times, to hold the total number of outstanding shares of JBIC. JBIC's operations, including
appointment of directors, business plans and issuance of new debt securities, are subject to the supervision of the
Japanese government. JBIC's business operations are conducted in accordance with the Japanese government's
economic and other policies, including the provision of financial support in areas in which it is difficult for
private financial institutions to provide on a commercial basis. Accordingly, JBIC's business operations, results
of operations and financial condition have been, and will continue to be, influenced by the Japanese
government's economic and other policies.
In particular, JBIC is subject to governmental regulation pursuant to the JBIC Act in addition to the
Companies Act of Japan (Act No. 86 of 2005, as amended). In the future, if these laws are amended in a material
way, the operations and other aspects of JBIC may be materially affected.
S-10