Of the nation's 18 major banks, 15 will apply for public funds injections within the fiscal year under the provisions of the new bank recapitalization law, the banks announced Tuesday with their midterm earnings results.
The three holdouts are the Bank of Tokyo-Mitsubishi, Nippon Credit Bank and Nippon Trust Bank. The Bank of Tokyo-Mitsubishi, the nation's largest, will attempt to reinforce its capital base by about 400 billion yen through asset sales and share issues.
Nippon Credit Bank said it is still considering whether to follow capital-injection procedures, but did not rule out the possibility it would apply. For the meantime, it said, it will pursue corporate restructuring instead.