The Ministry of Economy, Trade and Industry said Tuesday it will support cash-strapped affiliates of scandal-hit Mitsubishi Motors Corp. by offering them guarantees to receive more loans.
Industry minister Shoichi Nakagawa told a news conference that the program will enable small and midsize companies to receive guarantees from credit-guarantee associations across Japan for loans of up to 560 million yen, including 160 million yen without collateral.
The measure will be retroactive to May 21 and will be valid for one year to next May, seeking to assist subcontractors and dealerships with close ties to MMC, according to ministry officials.