New Japanese Corporation to Expedite Corporate and Industrial Reorganization
WIRE)--Jan. 16, 2003
Japan External Trade Organization New York (JETRO NY) released a
newsletter today highlighting Japan's new Industrial Revitalization
It can be viewed at: http://www.jetro.org/newyork/focusnewsletter/focus20.html
- Japan's IRC
Moves to Resolve Excess Corporate Debt over a Period of Five Years
disposes its non-performing loans, many fundamentally sound companies
need to maintain access to the capital necessary to fund their ongoing
competitiveness. Where revitalization is possible, Japan's newly
formed IRC will act as a neutral coordinating body. It will move
to purchase nonperforming debt over a period of two years, and provide
support to struggling companies that meet established criteria that
demonstrates an ability to reorganize themselves within three years
- IRC to Make
Use of the Law on Special Measures for Industrial Revitalization
a company can achieve one or more aspects of defined criteria that
has been developed, it shall be eligible for policy-support measures
based on an individualized restructuring plan.
- Japan's IRC
Also Addresses Problems Relating to Overcapacity and Excess Supply
case of business sectors that are facing a systemic decline, which
indicates a marked disparity between demand and potential supply
with no apparent resolution in sight, these fields shall also be
designated as eligible for policy support measures.
- Employment Measures
Enacted to Facilitate Corporate and Industrial Revitalization
government will also implement policies to stabilize employment.
For workers experiencing unavoidable terminations or transfers,
the government will implement policies to develop an employment
- Additional Measures
Enacted to Facilitate the Reorganization Process
the approval of mergers and to clarify procedures, the Japanese
Fair Trade Commission will take steps that will enable merger approvals
to conclude as quickly as possible.
is published and disseminated by JETRO New York, in coordination
with KWR International, Inc., New York, NY 10023, Tel: 212-532-3005,
Fax: 212-799-0517, E-mail: firstname.lastname@example.org.
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for public viewing.
information contact: JETRO New York
Satoshi Miyamoto, 212/997-0416, Fax: 212/997-0464
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