Oct 9, 2014

Three banks to extend uncollateralized loans to recovering Tepco

Three banks have decided to extend uncollateralized loans to Tokyo Electric Power Co. after judging that the beleaguered utility is recovering with government support, according to sources close to the matter. Sumitomo Mitsui Banking Corp., Bank of Tokyo-Mitsubishi UFJ, and Mitsubishi UFJ Trust and ...

Mizuho boss vows reforms after loan scandal

Jun 24, 2014

Mizuho boss vows reforms after loan scandal

The president of Mizuho Financial Group Inc. pledged Tuesday to improve corporate governance, including through the establishment of oversight committees, to prevent any more scandals involving loans to yakuza. “We will try to regain the public’s trust through renewed efforts to sever ties with ...

Jun 3, 2014

Japan suspends aid to Vietnam over bribery case

Japan told the Vietnamese government Monday it would suspend official development assistance over bribery allegations surrounding a Japan-funded Hanoi urban railway project, the embassy in Hanoi said. Specifically, loans for the first phase of constructing the project’s No. 1 railway line will be frozen, ...

Apr 28, 2014

No plans to revive usury, Aso says

The government has no immediate plans to relax consumer-finance regulations, Financial Services Minister Taro Aso said, days after a lawmaker said the ruling party will consider it. A 2006 legislative change designed to protect consumers “was pretty effective to deal with heavily indebted people,” ...

Apr 25, 2014

Watanabe cash unaccounted for

Your Party said Thursday that about ¥90 million in questionable loans from a businessman to Yoshimi Watanabe, the former head of the opposition party, remain unaccounted for. In an investigative report on the loan scandal, the party said some ¥500 million was transferred to ...

Feb 5, 2014

JBIC to lend parts maker ¥46 million

The Japan Bank for International Cooperation said Tuesday that it will provide 15 million baht (¥46.5 million) as part of a syndicated loan to a Thai unit of Mano-Seiko Co., a small machinery parts maker based in Tachikawa, Tokyo. JBIC’s loan to Mano Precision ...

Banks vow mob-loans cleanup

Nov 16, 2013

Banks vow mob-loans cleanup

by Elaine Kurtenbach

Japanese banks are pledging more stringent efforts to halt loans to organized crime after an investigation at Mizuho, the country’s second-biggest bank, led to disclosures of mob links throughout the banking industry. Lawmakers grilled bank executives and government officials, including Finance Minister Taro Aso, ...

Nov 12, 2013

Banks halt loan flow to unaffiliated credit firms

Banks are scaling back loans through unaffiliated consumer credit firms that are not allowed to access their databases of gangsters and other antisocial elements. The moves follow recent revelations that Mizuho Bank, a unit of Mizuho Financial Group Inc, had extended loans to gangsters ...

Nov 9, 2013

Hitachi's consumer credit unit caught up in Mizuho yakuza loan scandal

Hitachi Capital Corp. played a role in Mizuho Bank’s lending to mobsters and other underworld groups, informed sources said Saturday. Mizuho carried out one gang-related loan transaction via Hitachi Capital, the consumer credit unit of Hitachi Ltd., the sources said. The discovery of Hitachi ...