Taxpayers may have to cough up for the Bank of Japan’s irrecoverable collateral-free loans to defunct Yamaichi Securities Co., Finance Minister Masajuro Shiokawa hinted Thursday.

Speaking at the House of Councilors Committee on Financial Affairs, Shiokawa referred to a remark by then Finance Minister Kiichi Miyazawa in regard to the possibility of the government covering the loans when Yamaichi was declared bankrupt in 1999.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.