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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: PaulM who wrote (8112)	3/7/1998 2:32:00 AM
From: Abner Hosmer	Read Replies (3) of 116764

biz.yahoo.com >>TOKYO, March 3 (Reuters) - The number of Japanese corporate bankruptcies caused by the current credit crunch will rise significantly in the coming months, Noriyoshi Kobayashi, a senior researcher at Teikoku Databank Ltd says... ..He said medium-sized firms in particular were being hit hard and surmised that banks were reluctant to pull the plug on large firms ahead of book closings at the end of March. ''If a large firm goes bankrupt now, that just means a large increase in bad loans for banks,'' he said. ''There will be more large firms going under but banks are waiting for the right time and we expect that this will happen around summer.''... ..Prospects for small and medium-sized businesses -- which according to the Trade Ministry account for 99 percent of Japanese companies, almost 80 percent of output and 70 percent of the work force -- would continue to be bleak, he said. ''The economy doesn't look like it'll vastly improve in the next couple of years,'' he said. ''There's not much to smile about.''<<

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