To further exchange bilateral experiences and share information, and through this to enhance the function of the deposit insurance mechanism, the Deposit Insurance Corporation of Japan (DICJ) held a signing ceremony for bilateral cooperation with the Central Deposit Insurance Corporation (CDIC) in Tokyo, Japan on 30 August 2006. At this ceremony, CDIC's then Chairman, Mr. Chin-Tsair Tsay, and DICJ Governor, Mr. Shunichi Nagata together on behalf of their respective corporations signed the Letter of Exchange, thereby extending the mutual cooperation between the two organizations. This reached an important milestone in developing the strong relationship between DICJ and CDIC.