Banks eye ¥40 billion loan to Sharp

Kyodo

Three banks, including Resona Bank, are considering providing loans totaling around ¥40 billion to struggling Sharp Corp., sources familiar with the matter said.

Resona Bank, Mizuho Trust & Banking Co. and Mitsubishi UFJ Trust and Banking Corp. will shoulder part of the ¥360 billion that Sharp’s main creditors — Mizuho Corporate Bank and the Bank of Tokyo-Mitsubishi UFJ — agreed to lend in September, they said.

According to the sources, Resona Bank is mulling lending around ¥20 billion and the other two banks around ¥10 billion each.