Chiyoda goes bust, President Yoneyama bows deeply

TOKYO, Japan - Reiji Yoneyama, president of Chiyoda Mutual Life Insurance Co., bows deeply at a press conference on Oct. 9, after the midsize life insurer filed for court protection from creditors with liabilities of 2,936.6 billion yen. The nation's 12th largest life insurer went bust under mountains of nonperforming loans accumulated during the asset-inflated bubble economy.

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