The government's Resolution and Collection Corp. has forgiven 60.5 billion yen in corporate and individual debt since it was launched in April last year, RCC President Akio Kioi said Thursday.

The debt-collection agency has so far waived 60 billion yen in loans held by 36 firms and 500 million yen by 38 people, Kioi told a press conference.

It is the first time the body has disclosed its debt forgiveness total.