Special Purpose Company. A special purpose company is an entity established to raise funds through securitization of real estate and housing loans acquired from financial institutions and real estate firms. An SPC may be capitalized at as little as 3 million yen, although the minimum capitalization for a joint stock company is 10 million yen. SPCs also enjoy certain tax privileges, including recognition of dividends paid out to shareholders as a deductible expense. Laws passed in 1998 and promulgated in September that year simplified the establishment of SPCs. However, the laws have also imposed certain restrictions, including those on the type of assets that may be transferred to them. SPCs must also have certain constraints on their fund raising methods. The financial and real estate industries are dissatisfied with the laws, complaining they are inconvenient, and are calling for their revision. The Financial System Council intends to propose a revision. In May 2000, the law was revised to ease the restrictions on SPCs, including expanding the types of assets that may be transferred to them.
Strategic Planning Council. A body consisting of management and line employees of the City and the Electric Utility, appointed by the City Manager, and responsible for the preparation of Strategic Plan(s) for the Electric Utility.
The Storage Performance Council is the only industry standards organisation that defines and promotes storage benchmarks as well as disseminates objective, relevant and verifiable performance data and related test tools to the computer industry and its customers. Storage Performance Council