UFJ Holdings Inc. said Wednesday two of its subsidiary banks may fail to recover or may face a delay in recovering a total of 13.2 billion yen in loans to collapsed Fujiki Komuten Co.
Fujiki Komuten, a midsize construction company based in Osaka, filed for court protection from creditors Tuesday under the fast-track Corporate Rehabilitation Law, leaving UFJ Bank with claims worth 13.13 billion yen and UFJ Trust Bank with claims of 69 million yen, the bank holding company said.
UFJ Holdings said that while necessary provisions will be set aside to cover a possible loan-loss in the April-September first half of fiscal 2002, it will keep its earnings forecast unchanged for the year.