OSAKA -- The family of the late Konosuke Matsushita, founder of the Matsushita group, has decided to extend financial help to Matsushita Investment & Development Inc., a debt-ridden real-estate developer, industry sources said Friday.
The family is likely to acquire part of the approximately 50 billion yen in third-party allotment shares that the group is planning to purchase from the developer, the sources said.
Matsushita Investment's five creditor banks, including Sumitomo Mitsui Banking Corp., plan to buy around 40 billion yen in shares.