• Kyodo

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A majority vote Saturday in the Osaka Municipal Assembly accepted a court-arbitraged bailout plan for three failed semipublic entities in a decision that highlights the city’s 47 billion yen burden.

Given the result of the vote, creditor banks are also expected to agree to the bailout plan that calls for waiving 92.6 billion yen, or about 45 percent, of their loans to the three firms — Asia and Pacific Trade Center Co., World Trade Center Building (Osaka) Inc. and Minatomachi Development Center Co., officials said.

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