JCP finance is basically sound

Financial balance sheets of political parties for 2002 were published on September 11.

The Japanese Communist Party reported that its income in 2002 totaled 33.43 billion yen (278 million dollars) and expenses 34.86 billion yen (290 million dollars).

Opposed to donations from corporations and civil organizations as well as the government's subsidy to political parties, the JCP depends on funds from monthly dues paid by party members and subscription fees of its newspaper Akahata and other publications, plus donations from individuals.

Commenting on the report, Ueda Hitoshi, JCP Finance and Management Bureau director, stated that the amount of expenditures was a little more than that of its revenues, but it was supplemented by the previous year's account surplus. Therefore, it would be safe to say that the JCP Central Committee is financially sound, he said.

Through sales of the newspaper Akahata and magazines, the party obtained 84.4 percent of its total revenues and used 56.7 percent of its total expenditures. This means that JCP activities depend on clean money collected from the public, which no other party can claim, Ueda stated.

Also, an increasing number of local assemblies adopted resolutions calling for a halt to the government's party subsidy system, Ueda added.