Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Softbank Group Corp -- Ignore unavailable to you. Want to Upgrade?

To: Edwin S. Fujinaka who wrote (5302)	6/22/2000 9:39:00 PM
From: Edwin S. Fujinaka	Read Replies (2) \| Respond to of 6020

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)