It is nice to see such widespread support for Softbank's Nippon Credit Bank:
Japanese Banks to Buy 8% of Nippon Credit Bank, Nikkei Says
By Bradley Meacham
Tokyo, June 23 (Bloomberg) -- Bank of Yokohama Ltd., Chiba Bank Ltd., and 88 other regional banks will buy an 8 percent stake in Nippon Credit Bank Ltd., the Nihon Keizai newspaper reported, without citing a source. The group of banks, which includes about 75 percent of Japan's regional lenders, aims to use Nippon Credit to raise funds, develop specialized financial products and book capital gains when the bank is eventually revived. The regional banks will each invest between 50 million to 200 million yen ($477,000 to $1.9 million), the paper said.
Softbank Corp., leasing firm Orix Corp. and insurer Tokio Marine & Fire Insurance Co. plan to spend about $1 billion to buy a majority stake of Nippon Credit from the government and are seeking foreign and regional lenders to buy the remaining share.
(Nihon Keizai newspaper, 6/23, p. 7) |
