AP Bank

The concept for AP Bank arose out of a series of seminars in 2002 by the members of composer Ryuichi Sakamoto's Artists Power, a project started in 2001 by Sakamoto and Takuro of Glay to engender more financial responsibility amongst musicians.[2] Seminar organiser and music producer Takeshi Kobayashi invited members to learn from experts about citizen's banks, where money is used according to the depositor's wishes as opposed to regular banks where depositors rarely know how their deposits are used.[3]

Presenter Yu Tanaka, executive director of non-profit organization the Mirai Bank, established in 1994,[4] encouraged the members to start their own citizen's bank[3] in order to invest in wind turbines.[5]

In June 2003 AP Bank was officially founded[5] as a non-profit bank able to offer loan financing, with a goal of tackling environmental problems. It was started with an initial investment of ¥100 million (approx. US$952,000[5]) each from music producer Takeshi Kobayashi, musician Kazutoshi Sakurai and composer Ryuichi Sakamoto.[6] A former manager from one of Japan's largest regular banks, Mitsui Sumitomo also joined as a key member of the team.[1] AP Bank, which operates as a lender with low interest rates, began receiving applications for loans online from May 1, 2004, receiving 75 applications in its first month[7] and granting 14 in its first year worth a total of approximately ¥50 million (US$476,000).[5]

Initial projects were asked to reach requirements such as not lasting longer than 10 years and requiring not more than ¥5 million ($47,600). The annual interest rate was set at of 1% and examples of those that were first accepted included a forest revival project in Kagoshima, a bicycle rental service using abandoned cycles in Yokohama, the use of bio-gas from kitchen refuse in Saitama, and the construction of an eco-resort in the Marshall Islands.[5]

"AP Bank" took its name from Sakamoto's Artists Power but also stands for Alternative Power.[8]

AP Bank initially operated only on its founding member's capital, refusing to accept investment from the general public, in order to test the initiative.[7] Funding is generated by regular releases by Sakurai's Bank Band, which performs and releases CDs and DVDs in collaboration with a wide range of guests artists. Further funding is generated by AP Bank's own AP Bank Fes, AP BANG! Tokyo Creators' Meetings and Yoyogi Village.

At the 2008 MTV Video Music Awards Japan on May 31, U2's Bono presented Kazutoshi Sakurai and Kobayashi Takeshi with the 'Rock The World' award for their work creating AP Bank. Bono commented; "I am honored for my message to be passed on here. It is a prize suitable for the party who keeps reciting a wonderful message that all can resonate through rock, named the 'Rock The World Award'". Sakurai accepted, commenting "I think this award could be won thanks to the endorsement of AP Bank by all artists."[9]

On November 18, 2011, Kobayashi opened Yoyogi Village, a mini-town featuring shops by Kurkku, organic restaurants and cafes, a bookstore, travel agent, garden and an all-night music bar. Kobayashi commented that ""There is no philosophy or vision within the government at the moment, so the private sector has to lead when it comes to selling ecology and the economy."[10]

In 2012, AP Bank Fes expanded to three festival sites and was joined by its first international artist, Jason Mraz, a strong supporter of Farm Aid.[11]

AP Bank's original website stated its purpose as "AP Bank's main loan targets are small businesses that ordinary people can manage, not large business entities. As in the case of renewable energy - often described as "decentralized energy" because it is generated locally - a variety of ideas appropriate to each community are needed to improve its environment. By supporting small projects being attempted by people in their own communities, we hope to encourage more people to think that they can change society through their own efforts. The result will be another, new type of future."[4]

AP Bank is also committed to the idea of "eco-resonance"—fostering eco-awareness.[3]

Kobayashi has described in a 2007 interview with Time that "money for the sake of money isn't great, but money is a tool, and people can use it as a community."[1]

Kazuyuki Tsuchiya of the green group A Seed Japan has said of AP Bank that "I think that because they started this movement, it's helped ordinary folks become aware of environmental problems and finance."[1]

Takeshi Kobayashi (小林武史, born June 7, 1959, in Shinjo City, Yamagata) is a well-known music producer, lyricist, composer and keyboardist. He is best known for his work with the popular band Mr. Children. In 1996, he teamed up with Shunji Iwai to create the music for the film Swallowtail Butterfly with J-pop singer Chara. He also composed songs for Quentin Tarantino's Kill Bill Vol.1 (2001). Kobayashi is perhaps the most active leader of AP Bank.

Kazutoshi Sakurai (桜井 和寿, born 櫻井 和寿, March 8, 1970, in Tokyo) is primarily known as the lead member and composer for his band Mr. Children. In 2006, Sakurai ranked #8 in HMV's "Top 30 Best Japanese Singers of All Time".[12] In 2009, he was selected as one of the Young Global Leader Honorees at the World Economic Forum.[13]

Ryuichi Sakamoto (坂本 龍一, born January 17, 1952, in Tokyo) is a Japanese musician, activist, composer, record producer, writer, singer, pianist, and actor, based in Tokyo and New York. He began his career in 1978 as a member of the pioneering electronic music group Yellow Magic Orchestra (YMO),[14][15] where he played keyboards and was an occasional vocalist.

Sakamoto was the originator of the concept of Artists' Power, a project by various artists to promote renewable energy started in 2001.[2] Sakamoto stepped back from regular involvement in AP Bank after its initial set-up due to his living in New York rather than Japan where AP Bank is primarily active.[1]

• AP Bank Official Website
• AP Bank Fes Official Website
• AP Bank Fes Official Twitter
• AP BANG! Tokyo Creators' Meeting
• Eco-Reso
• Yoyogi Village