Japan:Bad loans may sink 20,000 firms

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Bad loans may sink 20,000 firms

Saturday, July 14, 2001 at 10:00 JST

TOKYO — The government's plan to prod banks to dispose of 11.7 trillion yen in bad loans within two years is expected to cause 20,000 companies to go under and result in the loss of 200,000 jobs, a private research institute said Friday.

"The odds are that the number of corporate failures will break the postwar record high," Tokyo Shoko Research Ltd said in a report. (Kyodo News)

http://www.japantoday.com/e/?content=news&cat=3&id=43473

-- Martin Thompson (mthom1927@aol.com), July 13, 2001


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