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To: Edwin S. Fujinaka who wrote (5518)	9/12/2000 5:22:25 AM
From: Edwin S. Fujinaka	Respond to of 6020

Monday, September 11, 2000 PEOPLE: Ex-BOJ Official Heads Revived Nippon Credit Bank TOKYO (Nikkei)--Tadayo Honma, 60, sees irony in his appointment as the new president of Nippon Credit Bank, now emerging from rehabilitation under government control and seeking a fresh start. After graduating in law from the University of Tokyo in 1963, the native of Hyogo Prefecture joined the Bank of Japan. He was picked to lead the central bank's Financial and Payment System Office in 1990, and became executive director of the BOJ in 1994. In 1997, the BOJ official, together with the Ministry of Finance, called on financial institutions to invest in NCB, which was losing the confidence of the market. Honma circulated what looked like a request for donations to a temple or shrine. Despite his efforts, NCB wound up seeking protection from creditors, significantly damaging those institutions which lent their support. The donation system to save the bank drew strong criticism, but Honma defends his action saying, "I had no other choice at the time." Honma left the BOJ in 1998 and held several executive positions in the private sector until becoming NCB president this month. He accepted his latest job at the request of senior figures at major NCB shareholders like Softbank Corp. (9984), who were prepared to overlook the past criticism and seek Honma's help in rebuilding the troubled bank. As head of the BOJ's Financial and Payment System Office, Honma often worked on cases of bankrupt financial institutions. A former BOJ colleague said Honma was excellent at complex coordination involving the various parties concerned with bank rehabilitations, such as MOF, but another noted he was not so good at inaugurating new procedures. NCB's top priority is to increase its earnings power. To run the revived bank, Honma must coordinate the views of some strong characters, notably Softbank President Masayoshi Son and Chairman Yoshihiko Miyauchi of Orix Corp. (8591). Currently, he is sacrificing his weekends to work on NCB matters. "I'll have to take a break from golf for a while," he commented pensively. (The Nihon Keizai Shimbun Sunday edition)