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JAPAN
Sep 28, 1999

FRC gives Ripplewood go-ahead to buy LTCB

The Financial Reconstruction Commission on Tuesday effectively named an investment consortium led by Ripplewood Holdings L.L.C. of the United States as the buyer of the nationalized Long-Term Credit Bank of Japan.
EDITORIALS
Jul 2, 1999

Complacency is the threat

Two years ago today, the world got its first exposure to "bahtulism." The Asian contagion then circled the globe, infecting governments in Northeast Asia, Russia and South America. The crisis that followed was the worst since the Great Depression and has shaken the foundations of the world economic architecture....
JAPAN
Jun 15, 1999

NCB picks up Morgan Stanley as adviser

Nippon Credit Bank, currently under state control, has selected U.S. investment bank Morgan Stanley as its financial adviser, NCB President Takuya Fujii said Tuesday.
JAPAN
Feb 9, 1999

Daihyaku, Manulife join forces on life insurance

Midsize life insurer Daihyaku Mutual Life Insurance Co. and Manulife Financial of Canada have signed a definitive agreement to form a joint life insurance company with a future merger in mind, company officials announced Tuesday.
JAPAN
Jan 20, 1999

Sanwa, Toyo Trust to set up 'Big Bang' survival alliance

Sanwa Bank and Toyo Trust & Banking Co. have agreed to form an extensive business alliance to survive the ongoing "Big Bang" financial reforms, officials of the two banks announced Wednesday.
JAPAN
Dec 15, 1998

Believe the 'convoy system' is over: Miyazawa

The nationalization of Nippon Credit Bank must have given foreign observers the impression that the "convoy system" era in financial policymaking is over, Finance Minister Kiichi Miyazawa said Tuesday.
JAPAN
Nov 13, 1998

Japan Inc. suffers 70% drop in after-tax profit

After-tax profits of Japanese companies listed on the first section of the Tokyo Stock Exchange plunged 70 percent from the previous year, marking the largest drop since the period immediately after World War II, according to financial reports announced Friday.
JAPAN
Nov 12, 1998

FSA chief implores banks to request public funds

Financial Reconstruction Minister Hakuo Yanagisawa again urged banks to apply for a big capital injection Thursday, the day before the Financial Supervisory Agency was to explain application approval standards to 147 banks in Tokyo.
JAPAN
Sep 28, 1998

City banks Tokai, Asahi agree on retail tieup

In a strategic move to strengthen their presence in the retail banking field, Tokai Bank and Asahi Bank, both among the nation's nine major city, or commercial, banks, reached a comprehensive tieup agreement Monday to consolidate their branch offices and jointly develop financial products.
JAPAN
Sep 22, 1998

Sumitomo Life buys into Taiheiyo

In an aggressive move to expand its financial services, Sumitomo Life Insurance Co. has purchased about 10 percent of outstanding shares in ailing Taiheiyo Securities Co. and its subsidiary Taiheiyo Investment Trust Management Co., the two companies announced Tuesday.
JAPAN
Sep 16, 1998

Latin American crisis sparked G-7's emergency call

The economic crisis in Latin America was the biggest factor behind an emergency statement issued Tuesday by the Group of Seven industrialized countries, Finance Minister Kiichi Miyazawa said Wednesday.
JAPAN
Sep 11, 1998

Toyota to raise stake in Chiyoda to 47.1%

Toyota Motor Corp. will increase its stake in Chiyoda Fire & Marine Insurance Co. from the 37.1 percent at present to 47.1 percent by the end of September to strengthen Chiyoda's financial backbone and ties between the two firms, the automaker announced Friday.
JAPAN
Sep 2, 1998

Kan airs views on LTCB issue

Naoto Kan, president of the Democratic Party of Japan, called on the government and the ruling Liberal Democratic Party Wednesday to establish clear rules for dealing with the ailing Long-Term Credit Bank of Japan, indicating he is not necessarily opposed to the injection of public funds to save the...
JAPAN
Aug 26, 1998

No state policy set on bank mergers, Miyazawa claims

Finance Minister Kiichi Miyazawa denied Wednesday that the government already has a set policy of supporting future mergers involving major banks.
JAPAN
Jul 23, 1998

Candidates make last pitches; junior group may quit LDP

The three candidates for the Liberal Democratic Party presidency all promised aggressive economic measures Thursday afternoon as they delivered joint campaign speeches at LDP headquarters in last-minute pitches before today's election.
JAPAN
Jul 17, 1998

Three-way LDP race expected

Foreign Minister Keizo Obuchi and former Chief Cabinet Secretary Seiroku Kajiyama declared their candidacies Friday for the presidency of the ruling Liberal Democratic Party to succeed Prime Minister Ryutaro Hashimoto.
JAPAN
Jul 15, 1998

Prudential-Mitsui venture to focus on customer needs

Staff writer
JAPAN
Jul 13, 1998

Strike while the iron is hot, BIS members tell Japan

Japan's economic fundamentals are strong enough to put it on a recovery track, but timing is a vital element in securing an upswing, central bank governors from the world's key economies agreed Monday.
JAPAN
Jun 26, 1998

Ailing LTCB moves toward merger with Sumitomo Trust

The Long-Term Credit Bank of Japan, suffering a battering in the market over its financial problems, seeks to merge with Sumitomo Trust & Banking Co. in what is largely seen as its de facto absorption, industry sources said Friday.
JAPAN
Jun 9, 1998

Head banker warns against rapid weakening of yen

Foreign exchange movements excessive in both speed and level are unwelcome among Japanese financial institutions, the head of the banking industry said Tuesday.
JAPAN
Jun 9, 1998

Ford not raising stake in Mazda yet, Miller says

The president of Mazda Motor Corp. on Tuesday denied media reports that Ford Motor Co. plans to increase its equity stake in the Japanese automaker.
JAPAN
Jun 3, 1998

No plans for emergency assistance to Russia, Muraoka says

The government has no plan to provide emergency loans or any other form of financial aid to Russia to help ease financial uncertainty there, Chief Cabinet Secretary Kanezo Muraoka said Wednesday.
JAPAN
Jun 2, 1998

Newspapers not doomed by Internet, Murdoch assures

Staff writer
JAPAN
May 22, 1998

Corporate profits fall first time in four years; city banks see red

Profit levels at most corporations declined for the first time in four years in the 1997 business year to March 31, with at least six of the nation's nine giant "city banks" falling into the red, according to earnings results released through Friday.
JAPAN
Apr 15, 1998

LDP urged to negotiate disaster bill in the open

A citizens' group pushing for new legislation to provide financial assistance to survivors of the 1995 Great Hanshin Earthquake on April 15 called on the Liberal Democratic Party to submit the party's bill to the Diet, rather than negotiate behind closed doors.
JAPAN
Apr 2, 1998

Business groups unhappy with government steps

Reflecting the poor business sentiment shown by the Bank of Japan's latest "tankan" survey, business leaders Thursday criticized the government for its vague economic measures.
JAPAN
Mar 18, 1998

State to withdraw 400 million yen claim against Aum

The government intends to withdraw a claim for more than 400 million yen against Aum Shinrikyo, which has been declared bankrupt, Chief Cabinet Secretary Kanezo Muraoka indicated March 18.
JAPAN
Mar 16, 1998

Finance Ministry agrees that 0.1% GDP rise is long shot for '97

Vice Finance Minister Koji Tanami said March 16 he agreed with the Economic Planning Agency's view that it would be "quite difficult" for the nation's economy to achieve 0.1 percent growth for the current fiscal year.
JAPAN
Feb 17, 1998

Inventory woes to keep economy down: BOJ

The economy is likely to remain stagnant for the time being as pressure to adjust inventory builds due to sluggish demand, the Bank of Japan said Tuesday.
JAPAN
Jan 30, 1998

Bankers' group chairman Saeki will resign

As bribery scandals engulf Finance Ministry officials and employees of major banks, Natotaka Saeki, chairman of the Federation of Bankers Associations of Japan, announced Friday that he will resign as leader of the industry association "for the sake of the stability of the financial system."But Saeki,...

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