Fund debuts to help small firms

JIJI

A new public-private fund debuted Monday to support the finances and restructuring of small and midsize regional companies in close cooperation with local banks.

A law to facilitate debt relief for such firms is set to expire at the end of March.

At the inaugural ceremony in Tokyo, Minoru Terada, senior vice minister at the Cabinet Office, said the fund should handle cases that the private sector alone cannot.

The fund was created by reorganizing Enterprise Turnaround Initiative Corp. of Japan, the public-private fund that was tasked with leading Japan Airlines out of bankruptcy.