Nippon Credit Bank President Tadayo Honma passed away Wednesday morning of heart failure. He was 60.

His death came 16 days after NCB made a fresh start Sept. 4 under new owners.

Honma was on a business trip to Osaka on Wednesday morning when he was taken ill and was rushed to Kanou Hospital in Osaka's Kita Ward, company officials said. He was pronounced dead at 9:11 a.m.