The Nippon Foundation is an independent, non-profit grant-making organization that was established as the Japan Shipbuilding Industry Foundation in 1962 by legislation setting aside 3.3 percent of the revenues from motor boat racing to be used for philanthropic purposes. It originally focused on providing aid to maritime affairs, and then extended its target area to public welfare and voluntary programs, as well as overseas cooperation assistance. The objectives of these activities are to alleviate human suffering, to advance human welfare and to promote world peace, without any bias to policy, ideology, religion or race. The Nippon Foundation's annual spending in the year 2002, not including indirect costs, amounts approximately to US$ 368 million, of which US$ 52 million was spent for overseas cooperation assistance.

The Foundation's principal commitment is to support international humanitarian initiatives aimed at improving the social, cultural and economic well-being of developing countries, and to combat poverty worldwide.

For more information, please visit
www.nippon-foundation.or.jp