Japanese Brokers Contribute $500,000 to Planned Institute

Eleven Japanese brokerage firms have jointly contributed $500,000 toward Harvard's proposed $15 million Institute for Japanese Studies.

The money, given under the auspices of the Keidanren, Japan's Federation of Economic Organizations, brings the amount donated for the Institute from Japanese sources to $3.5 million.

Edwin O. Reischauer, University Professor and coordinator of the Institute fund-raising drive, said yesterday that he was "delighted" with the gift. "Such a contribution is especially appreciated when one considers that the Japanese economy has been terribly shocked by the oil crisis," he added.

Institute planners hope eventually to raise $10 million for the project from Japanese sources, Reischauer said. The rest of the money will be sought from contributors within the U.S., he said.

"We are directing activities toward money raising in this country," Reischauer said, "but things are not as organized here." There is no central business association which may be approached for funds.

The proposed center for Japanese Studies is still in the developmental stage, Reischauer said. Further planning decisions concerning facilities and faculty positions will be postponed until some estimate of the total funding can be made, he explained.

Last month, the Japanese government contributed $1 million toward the center. Takeshi Yasuka, Japan's ambassador to the United States, personally presented the gift to President Bok.

That grant was part of a $10-million package announced by Japanese Prime Minister Kakuei Tanaka last summer. The Japanese government awarded the rest of the money in the package to nine other universities.

Other Contributors

The Toyota and the Nissan Motor companies have also donated $1 million each toward the center.

Previous gifts to Harvard from Japanese sources include a recent $1 million grant to the Law School from the Mitsubishi group of industries.