Taiheiyo Coal Mine Co., which ran Japan's last operating coal mine before it closed in January, reached an agreement in May with its creditors regarding the repayment of debts worth 19.4 billion yen over a 20-year period, sources close to the deal said Wednesday.
The company reached the agreement at the end of May with its three creditors, the sources said. Taiheiyo Coal ended 82 years of coal mine operations Jan. 30.
The creditors are the New Energy and Industrial Technology Development Organization, a semiofficial corporation; the Development Bank of Japan; and Taiheiyo Kouhatsu Inc., the Tokyo-based parent company of Taiheiyo Coal, they said.