Troubled Hokkaido Takushoku Bank should first look for support from local business circles in increasing its capital, the president of Asahi Mutual Life Insurance Co. said Sept. 19.
Noting that Asahi Mutual has not received a formal request from Hokkaido Takushoku to convert Asahi’s loans to equities, President Yuzuru Fujita, also chairman of the Life Insurance Association of Japan, said, “There is no convincing reason to accommodate such a request because what the bank is trying to do is put a burden on life insurers to cover its losses.”
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.
We humbly apologize for the inconvenience.