Consumer loan company Takefuji Corp. has decided to file for bankruptcy in the face of mounting claims by borrowers for reimbursement of excessive interest charges and thinning profit margins under tightened consumer loan regulations, sources said Monday.
Takefuji President Akira Kiyokawa denied media reports that it would seek court protection from creditors, telling reporters at his home in Yokohama that no decision had been made.
The Tokyo Stock Exchange suspended trading in Takefuji shares, listed on its first section, while it tried to confirm the media reports.