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BUSINESS
Mar 25, 2004

Banks must use realistic interest rates, lobby says

Japanese banks' interest rates on loans should better reflect borrower creditworthiness to mitigate against the risk of borrowers going under, a powerful business lobby said in a report Wednesday.
Japan Times
BUSINESS
Mar 20, 2004

Fukui said to be 'doing his best' under strict policy

Sakuya Fujiwara, former deputy governor of the Bank of Japan, says BOJ Gov. Toshihiko Fukui is constantly under public pressure over the central bank's monetary measures.
BUSINESS
May 21, 2003

BOJ decides to pump more cash into system

The Bank of Japan decided Tuesday to pump still more money into the economy amid falling stock prices, a rising yen and the bailout of Resona Bank.
BUSINESS
May 14, 2003

Yield cut proposal goes to LDP

The Financial Services Agency presented a draft bill Tuesday to the Liberal Democratic Party that would enable troubled life insurers to lower promised yields on insurance contracts.
BUSINESS
Mar 19, 2003

Koizumi tells Cabinet to watch markets closely

Prime Minister Junichiro Koizumi on Tuesday urged his Cabinet to monitor financial markets carefully and cooperate closely with the Bank of Japan to prevent any disruptions as a result of the looming war in Iraq, government officials said.
BUSINESS
Mar 8, 2003

Takenaka denies wrongdoing in banker meeting

Financial Services Minister Heizo Takenaka on Friday denied he violated Cabinet guidelines by meeting with the chiefs of U.S. investment bank Goldman Sachs Group Inc. and Sumitomo Mitsui Financial Group Inc., as reported by a magazine.
BUSINESS
Sep 4, 2002

Yanagisawa pushes banks to introduce new settlement account

Financial Services Minister Hakuo Yanagisawa expressed hope Tuesday that financial institutions will introduce a new settlement-specific bank account next April whose deposits are fully protected by the government, although doing so is not mandatory.
BUSINESS
Jun 22, 2002

Ex-Mizuho chiefs' allowances eyed

Former top officials of Mizuho Holdings Inc. should either repay their retirement allowances or have them reduced as a means of accepting responsibility for the massive computer debacle that threw operations at the firm's two banks into chaos in April, Financial Services Minister Hakuo Yanagisawa said...
JAPAN / Media / MEDIA MIX
Apr 28, 2002

Public rests easy with cash under the futon

As the scandals keep a-comin', the citizens are receiving what many believe is a healthy and long overdue reality check about those whom they've entrusted with their collective well-being. Politicians have always been suspicious types and bureaucrats only slightly less so. But now teachers, policemen...
BUSINESS
Apr 2, 2002

Yanagisawa assures banks are healthy

All of the nation's financial institutions are in good health following the introduction of the "payoff" system cap on time-deposit guarantees at banks, Financial Services Minister Hakuo Yanagisawa said Monday.
BUSINESS
Apr 2, 2002

Mizuho Holdings sees new dawn

Mizuho Holdings Inc., the world's largest banking group by assets, made a fresh start Monday as its three core banks merged into two -- Mizuho Bank and Mizuho Corporate Bank.
BUSINESS
Mar 13, 2002

Banks told not to lower efforts

Banks should not become lax in their efforts to dispose of nonperforming loans, despite speculation that the risk of a financial crisis occurring this month has receded, Financial Services Minister Hakuo Yanagisawa said Tuesday.
BUSINESS
Jan 6, 2002

Koizumi hints at more public funds for banks

Prime Minister Junichiro Koizumi has pledged to take every possible step to avert financial crisis, hinting at yet another injection of public money into banks suffering from bad loans.
JAPAN
Dec 7, 2001

Aoki goes under with 522 billion yen in liabilities

The construction industry was dealt another blow on Thursday when general contractor Aoki Corp. effectively went bankrupt, filing for court protection from creditors under a civil rehabilitation law.
BUSINESS
Nov 21, 2001

Securitize home loans: panel

A framework for the securitization of housing loans should be created before Government Housing Loan Corp. is privatized, the head of an advisory panel to the land minister proposed Tuesday.
Japan Times
JAPAN
Nov 7, 2001

Former investment firm chief, 18 others arrested over fraud

OSAKA -- The former president of a failed firm here that sold mortgage-backed securities was arrested along with 18 others Tuesday on suspicion of defrauding clients of about 1.1 billion yen by misrepresenting the financial products of the firm's affiliates, police said.
JAPAN
Sep 15, 2001

Mycal seeks bankruptcy protection after main creditor pulls the plug

Mycal Corp. filed for protection from creditors with the Tokyo District Court on Friday, after Dai-Ichi Kangyo Bank, its biggest creditor, decided to cut off further financial support to the supermarket chain.
BUSINESS
Sep 13, 2001

BOJ calms banking system with massive cash injection

The Bank of Japan injected 2 trillion yen into the market Wednesday to keep the banking system stabilized following terrorist attacks in the United States.
BUSINESS
Apr 1, 2001

Tokyo Mutual gets court approval to start rehabilitation

Failed Tokyo Mutual Life Insurance Co. said Saturday that it has received approval from the Tokyo District Court to begin rehabilitation procedures.
JAPAN
Mar 22, 2001

Under pressure from U.S., tax breaks considered to rid banks of bad loans

The government began discussions Wednesday on specific measures to eliminate the bad loans held by Japanese banks, following a request from U.S. President George W. Bush to do so.
JAPAN
Feb 10, 2001

BOJ cuts discount rate to record low of 0.35%

Coming under intense political pressure, the Bank of Japan decided Friday to reduce the official discount rate by 0.15 percentage points to a record low 0.35 percent.
BUSINESS
Dec 1, 2000

FRC calls off Tokyo Sowa sale talks

The Financial Reconstruction Commission on Thursday approved the termination of negotiations on the sale of Tokyo Sowa Bank, a regional bank that failed in June 1999, to the Asia Recovery Fund L.P. of the United States.
BUSINESS
Sep 30, 2000

Mizuho executives express confidence in future

Chief executives of the Mizuho Financial Group expressed confidence Friday that their company is destined to lead the Japanese banking industry and become one of the world's top banks.
BUSINESS
Jul 29, 2000

LDP abandons plan to revise conditions of NCB sale contract

A majority of members on the Liberal Democratic Party's panel on financial matters agreed Friday that it would be difficult to revise the contract allowing the Softbank-led consortium to buy state-run Nippon Credit Bank.
BUSINESS
Jun 15, 2000

Miyazawa advocates reserve budget

Finance Minister Kiichi Miyazawa said Wednesday that the 500 billion yen reserve budget should be used to shore up the economy soon after the June 25 general election, bolstering the ruling coalition's joint campaign pledge.
BUSINESS
Jun 1, 2000

Daihyaku Life told to cease operations

The Financial Supervisory Agency announced Wednesday that it has ordered Daihyaku Mutual Life Insurance Co. to suspend operations -- the third collapse in the nation's life insurance sector.
JAPAN
May 2, 2000

Daiichi Mutual ordered to shut down

The Financial Supervisory Agency ordered financially troubled Daiichi Mutual Fire & Marine Insurance Co. to suspend its operations Monday. It is the first bankruptcy in the nation's nonlife insurance sector.
JAPAN
Nov 9, 1999

Y2K problem wrecks holiday season for finance industry

Staff writer
JAPAN
Apr 16, 1999

Miyazawa mum on splitting Finance

Finance Minister Kiichi Miyazawa said Friday he will wait and see how the Finance Ministry is to share its policy-planning authority with the proposed Financial Agency.
JAPAN
Apr 13, 1999

Hayami urges new deposit insurance plan

Bank of Japan Gov. Masaru Hayami said Tuesday that a new depositor-protection system should replace a "payoff" plan scheduled to begin in April 2001.

Longform

Koichi Tagawa’s diary entry from Aug. 9, 1945, describes the day of the atomic bombing of Nagasaki.
The horrors of Nagasaki, in first person