The governmental Development Bank of Japan and Fuji Bank said Wednesday they have extended 700 million yen in cofinancing to failed Footwork Express Co.
The joint loan, which is part of a credit line of 2 billion yen established by the two, is intended as bridge financing for the midsize trucking firm until its rehabilitation plans can be worked out, bank officials said.
Footwork Express and two of its affiliates filed for court protection from creditors in March this year under the Civil Rehabilitation Law.