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IRCJ to set up new Daiei management team in May: Saito

TOKYO, Japan - Industrial Revitalization Corp. of Japan President Atsushi Saito speaks in an interview with Kyodo News in Tokyo on Dec. 29. He said IRCJ plans to set up a new management team for ailing retailer Daiei Inc. which the government-backed body decided to support. ''We are willing to establish the team in April, but the selection of a Daiei rehabilitation sponsor may be delayed until the end of March,'' Saito said.

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(2) IRCJ decides to bail out Daiei, Misawa Homes

TOKYO, Japan - Daiei Inc. President Toshio Hasumi (R) bows at a press conference in Tokyo on Dec. 28 after the state-backed Industrial Revitalization Corp. of Japan decided to help rehabilitate the struggling retailer and home builder Misawa Homes Holdings Inc.

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(3) IRCJ decides to bail out Daiei, Misawa Homes

TOKYO, Japan - Misawa Homes Holdings Inc. President Kazuo Mizutani speaks at a press conference in Tokyo on Dec. 28 after the state-backed Industrial Revitalization Corp. of Japan decided to help rehabilitate the ailing home builder and struggling retailer Daiei Inc.

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(1)IRCJ decides to bail out Daiei, Misawa Homes

TOKYO, Japan - Industrial Revitalization Corp. of Japan President Atsushi Saito speaks at a press conference on IRCJ's decision to help rehabilitate struggling retailer Daiei Inc. and home builder Misawa Homes Holdings Inc.

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Ex-IRCJ head Saito named as TSE president

TOKYO, Japan - Tokyo Stock Exchange Inc. said at a press conference on March 27 that it has appointed Atsushi Saito (in file photo), former president of the just-disbanded Industrial Revitalization Corp. of Japan, as its new president to replace Taizo Nishimuro, who will become the bourse's chairman.

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Ex-IRCJ head Saito named as TSE president

TOKYO, Japan - Tokyo Stock Exchange Inc. President tells a press conference on March 27 that TSE has appointed Atsushi Saito, former president of the just-disbanded Industrial Revitalization Corp. of Japan, as its new president. Nishimuro will become the bourse's chairman.

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LEAD:Ex-IRCJ head Saito named as TSE president

TOKYO, Japan - File photo of Atsushi Saito, former president of the just-disbanded Industrial Revitalization Corp. of Japan, who was appointed March 27 as president of Tokyo Stock Exchange Inc. Saito, 67, replaces Taizo Nishimuro, who will become the bourse's chairman.

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Marubeni to acquire IRCJ's entire stake in Daiei for 69.8 bil. yen

TOKYO, Japan - (From L to R) Taisuke Sasanuma, representative partner of investment firm Advantage Partners, Atsushi Saito, chief executive officer of the Industrial Revitalization Corp. of Japan, Nobuo Katsumata, president of Marubeni Corp., Fumiko Hayashi, chairman of Daiei Inc. and Daiei President Yasuyuki Higuchi join hands for a photo after a news conference at a Tokyo hotel July 28.

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IRCJ provides management tips to struggling hotels

NIKKO, Japan - Ailing Hotel Shikisai holds a staff meeting every Wednesday in the city of Nikko, Tochigi Prefecture. The photo was taken in March.

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IRCJ inks contract on Marubeni-led group's Daiei sponsorship

TOKYO, Japan - Marubeni Corp. President Nobuo Katsumata (L) and Daiei Inc. President Toshio Hasumi speak during a news conference in Tokyo on March 7. The Industrial Revitalization Corp. of Japan and Daiei signed a contract the same day with a consortium led by trading house Marubeni as the sponsor for rebuilding the struggling retail giant.

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Daiei, IRCJ ask 10 creditors for 81% loan forgiveness

TOKYO, Japan - Daiei Inc. President Toshio Hasumi speaks to reporters after the ailing retailer and the state-backed Industrial Revitalization Corp. of Japan asked 10 of the company's 38 creditor banks to waive 81 percent of their uncollateralized loans.

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Softbank officially declares intent to buy Daiei Hawks

TOKYO, Japan - Masayoshi Son, president of Internet service provider Softbank Corp., answers reporters' questions Oct. 19 after meeting with Atsushi Saito, president of the Industrial Revitalization Corp. of Japan, and declaring the firm's intention of acquiring the Daiei Hawks professional baseball club from its owner Daiei Inc. Daiei has turned to the IRCJ for assistance for its revitalization.

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Daiei backs down, agrees to use IRCJ for rehabilitation

TOKYO, Japan - Kunio Takagi, president of struggling retail giant Daiei Inc., is swarmed by reporters in Tokyo on Oct. 13 after his meeting with Atsushi Saito, president of the state-backed Industrial Revitalization Corp. of Japan. Daiei decided to accept aid from IRCJ for its rehabilitation.

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(3)Daiei agrees to use IRCJ for rehabilitation

TOKYO, Japan - Atsushi Saito, head of the state-backed Industrial Revitalization Corp. of Japan, answers reporters' questions Oct. 13 after struggling retail giant Daiei Inc., under pressure from creditors to accept aid from the IRCJ for its rehabilitation, agreed to turn to the agency for help.

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(2)Daiei agrees to use IRCJ for rehabilitation

TOKYO, Japan - Economy, Trade and Industry Minister Shoichi Nakagawa speaks to reporters at the ministry after talks with Kunio Takagi, president of struggling retail giant Daiei Inc., on Oct. 13. Daiei is likely to apply to the state-backed Industrial Revitalization Corp. of Japan for support along with its lenders later in October.

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(1)Daiei agrees to use IRCJ for rehabilitation

Tokyo, Japan - Daiei Inc. President Kunio Takagi talks on his mobile phone in a car after meeting with Economy, Trade and Industry Minister Shoichi Nakagawa on Oct. 13. The struggling retail giant is likely to apply to the state-backed Industrial Revitalization Corp. of Japan for support along with its lenders later in October.

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(1)IRCJ not to help rebuild Daiei any more

TOKYO, Japan - Daiei Inc. President Kunio Takagi steps into a car following his meeting with Atsushi Saito, president of the state-backed Industrial Revitalization Corp. of Japan in Tokyo on Oct. 12. Takagi told the IRCJ that the company will seek private sector-led rehabilitation plans instead of seeking IRRJ's support.

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(2)IRCJ not to help rebuild Daiei any more

TOKYO, Japan - Atsushi Saito, president of the state-backed Industrial Revitalization Corp. of Japan, leaves a Tokyo hotel after his talks with Kunio Takagi, president of Daiei Inc. IRCJ said it will stop preparatory procedures to help rebuild the ailing retail giant after Takagi formally rejected calls by the IRCJ and major creditor banks for the company to seek the entity's help, IRCJ officials said.

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Daiei board decides not to seek IRCJ support

TOKYO, Japan - Kunio Takagi, president of struggling retailer Daiei Inc., leaves by car from the head office of Sumitomo Mitsui Banking Corp., one of its three major creditor banks, in Tokyo on Oct. 11. Earlier in the day Daiei decided at an extraordinary board meeting that it would not seek help from the state-backed Industrial Revitalization Corp. of Japan, brushing aside the banks' repeated demand that Daiei ask for IRCJ's help.

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Kanebo Cosmetics inaugurated to face harsh competition

TOKYO, Japan - Kunihiko Yogo, who will assume the posts of Kanebo Cosmetics Inc.'s chairman and chief executive officer, and Keiji Chishiki, who assumed the presidency of the company, shake hands at the start of the new company on May 7 as a spinoff from ailing cosmetics maker Kanebo Ltd. for which the state-run Industrial Revitalization Corp. of Japan came to the rescue in March. Yogo is currently executive officer of IRCJ.

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(4)IRCJ OKs 366 bil. yen aid package for Kanebo

TOKYO, Japan - Kazuyoshi Kaneko, state minister in charge of industrial regeneration, speaks at a news conference March 10 after the state-backed Industrial Revitalization Corp. of Japan (IRCJ) approved a 366 billion yen aid package for ailing cosmetics company Kanebo Ltd.

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(1)IRCJ OKs 366 bil. yen aid package for Kanebo

TOKYO, Japan - Kanebo Ltd. Chairman and President Takashi Hoashi (L) speaks at a news conference in Tokyo on March 10 after the Industrial Revitalization Corp. of Japan (IRCJ) approved a 366 billion yen aid package for the ailing cosmetics company. Seated right is IRJC Executive Officer Ryutaro Katayama.

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(2) IRCJ OKs 366 bil. yen aid package for Kanebo

TOKYO, Japan - Takashi Hoashi, chairman and president of ailing cosmetics company Kanebo Ltd., ponders before answering a question at a news conference in Tokyo on March 10. The Industrial Revitalization Corp. of Japan (IRCJ) approved a 366 billion yen aid package for Kanebo.

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(3)IRCJ OKs 366 bil. yen aid package for Kanebo

TOKYO, Japan - Akiyoshi Nakajima, who has been named to take over the presidency of Kanebo Ltd. from Chairman and President Takashi Hoashi, speaks at a news conference in Tokyo on March 10. The Industrial Revitalization Corp. of Japan (IRCJ) approved a 366 billion yen aid package for the ailing cosmetics company.

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Kanebo gives up deal with Kao, seeks IRCJ help

TOKYO, Japan - Takashi Hoashi, president of Kanebo Ltd., Japan's second-biggest cosmetics maker, announces at a Tokyo hotel on Feb. 16 that the firm has given up an earlier plan to sell its cosmetics operations to Kao Corp., and instead will seek assistance from the Industrial Revitalization Corp. of Japan (IRCJ) in transforming the operations into a subsidiary to help rebuild its entire business.

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(2)IRCJ decides to bail out Mitsui Mining

TOKYO, Japan - Mitsui Mining Co. President Shuji Nishino (L) and his aides bow at a news conference in Tokyo on Sept. 1 after the state-backed Industrial Revitalization Corp. of Japan (IRCJ) decided to bail out the company under its rescue program.

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(1)IRCJ decides to bail out Mitsui Mining

TOKYO, Japan - Shinjiro Takagi, chairman of the state-backed Industrial Revitalization Corp. of Japan's (IRCJ) industrial revitalization panel, speaks at a news conference in Tokyo on Sept. 1. He said JRCJ has decided to bail out struggling Mitsui Mining Co. under its rescue program.

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IRCJ announces 3 firms for bailout program

TOKYO, Japan - Shinjiro Takagi (L), chairman of the industrial revival committee, the decision-making organ of the Industrial Revitalization Corp. of Japan (IRCJ), speaks to reporters on Aug. 28 about IRCJ's plan to bail out three companies under its rescue program, with Sadakazu Tanigaki, state minister in charge of industrial revitalization, looking on.

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(3)IRCJ starts helping indebted but viable firms

TOKYO, Japan - Atsushi Saito, president of the state-backed Industrial Revitalization Corp. of Japan (IRCJ), speaks at a news conference after his corporation began business in a ceremony in Tokyo on May 8.

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(2)IRCJ starts helping indebted but viable firms

TOKYO, Japan - Sadakazu Tanigaki, state minister in charge of industrial revitalization, addresses the opening ceremony for the state-backed Industrial Revitalization Corp. of Japan (IRCJ), which began business on May 8. It is charged with a with a mission to help rehabilitate heavily indebted but viable firms.

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(1)IRCJ starts helping indebted but viable firms

TOKYO, Japan - The state-backed Industrial Revitalization Corp. of Japan (IRCJ) started operations in a ceremony in Tokyo on May 8, with a mission to help rehabilitate heavily indebted but viable firms.

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(1)IRCJ not to help rebuild Daiei any more

TOKYO, Japan - Daiei Inc. President Kunio Takagi steps into a car following his meeting with Atsushi Saito, president of the state-backed Industrial Revitalization Corp. of Japan in Tokyo on Oct. 12. Takagi told the IRCJ that the company will seek private sector-led rehabilitation plans instead of seeking IRRJ's support. (Kyodo)

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(3)Daiei agrees to use IRCJ for rehabilitation

TOKYO, Japan - Atsushi Saito, head of the state-backed Industrial Revitalization Corp. of Japan, answers reporters' questions Oct. 13 after struggling retail giant Daiei Inc., under pressure from creditors to accept aid from the IRCJ for its rehabilitation, agreed to turn to the agency for help. (Kyodo)

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(2)Daiei agrees to use IRCJ for rehabilitation

TOKYO, Japan - Economy, Trade and Industry Minister Shoichi Nakagawa speaks to reporters at the ministry after talks with Kunio Takagi, president of struggling retail giant Daiei Inc., on Oct. 13. Daiei is likely to apply to the state-backed Industrial Revitalization Corp. of Japan for support along with its lenders later in October. (Kyodo)

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(1)Daiei agrees to use IRCJ for rehabilitation

Tokyo, Japan - Daiei Inc. President Kunio Takagi talks on his mobile phone in a car after meeting with Economy, Trade and Industry Minister Shoichi Nakagawa on Oct. 13. The struggling retail giant is likely to apply to the state-backed Industrial Revitalization Corp. of Japan for support along with its lenders later in October. (Kyodo)

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Daiei backs down, agrees to use IRCJ for rehabilitation

TOKYO, Japan - Kunio Takagi, president of struggling retail giant Daiei Inc., is swarmed by reporters in Tokyo on Oct. 13 after his meeting with Atsushi Saito, president of the state-backed Industrial Revitalization Corp. of Japan. Daiei decided to accept aid from IRCJ for its rehabilitation. (Kyodo)

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Softbank officially declares intent to buy Daiei Hawks

TOKYO, Japan - Masayoshi Son, president of Internet service provider Softbank Corp., answers reporters' questions Oct. 19 after meeting with Atsushi Saito, president of the Industrial Revitalization Corp. of Japan, and declaring the firm's intention of acquiring the Daiei Hawks professional baseball club from its owner Daiei Inc. Daiei has turned to the IRCJ for assistance for its revitalization. (Kyodo)

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(3) IRCJ decides to bail out Daiei, Misawa Homes

TOKYO, Japan - Misawa Homes Holdings Inc. President Kazuo Mizutani speaks at a press conference in Tokyo on Dec. 28 after the state-backed Industrial Revitalization Corp. of Japan decided to help rehabilitate the ailing home builder and struggling retailer Daiei Inc. (Kyodo)

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(1)IRCJ decides to bail out Daiei, Misawa Homes

TOKYO, Japan - Industrial Revitalization Corp. of Japan President Atsushi Saito speaks at a press conference on IRCJ's decision to help rehabilitate struggling retailer Daiei Inc. and home builder Misawa Homes Holdings Inc. (Kyodo)

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IRCJ to set up new Daiei management team in May: Saito

TOKYO, Japan - Industrial Revitalization Corp. of Japan President Atsushi Saito speaks in an interview with Kyodo News in Tokyo on Dec. 29. He said IRCJ plans to set up a new management team for ailing retailer Daiei Inc. which the government-backed body decided to support. ''We are willing to establish the team in April, but the selection of a Daiei rehabilitation sponsor may be delayed until the end of March,'' Saito said. (Kyodo)

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Daiei, IRCJ ask 10 creditors for 81% loan forgiveness

TOKYO, Japan - Daiei Inc. President Toshio Hasumi speaks to reporters after the ailing retailer and the state-backed Industrial Revitalization Corp. of Japan asked 10 of the company's 38 creditor banks to waive 81 percent of their uncollateralized loans. (Kyodo)

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IRCJ inks contract on Marubeni-led group's Daiei sponsorship

TOKYO, Japan - Marubeni Corp. President Nobuo Katsumata (L) and Daiei Inc. President Toshio Hasumi speak during a news conference in Tokyo on March 7. The Industrial Revitalization Corp. of Japan and Daiei signed a contract the same day with a consortium led by trading house Marubeni as the sponsor for rebuilding the struggling retail giant. (Kyodo)

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Marubeni to acquire IRCJ's entire stake in Daiei for 69.8 bil. y

TOKYO, Japan - (From L to R) Taisuke Sasanuma, representative partner of investment firm Advantage Partners, Atsushi Saito, chief executive officer of the Industrial Revitalization Corp. of Japan, Nobuo Katsumata, president of Marubeni Corp., Fumiko Hayashi, chairman of Daiei Inc. and Daiei President Yasuyuki Higuchi join hands for a photo after a news conference at a Tokyo hotel July 28. (Kyodo)

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LEAD:Ex-IRCJ head Saito named as TSE president

TOKYO, Japan - File photo of Atsushi Saito, former president of the just-disbanded Industrial Revitalization Corp. of Japan, who was appointed March 27 as president of Tokyo Stock Exchange Inc. Saito, 67, replaces Taizo Nishimuro, who will become the bourse's chairman. (Kyodo)

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Ex-IRCJ head Saito named as TSE president

TOKYO, Japan - Tokyo Stock Exchange Inc. President tells a press conference on March 27 that TSE has appointed Atsushi Saito, former president of the just-disbanded Industrial Revitalization Corp. of Japan, as its new president. Nishimuro will become the bourse's chairman. (Kyodo)

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Ex-IRCJ head Saito named as TSE president

TOKYO, Japan - Tokyo Stock Exchange Inc. said at a press conference on March 27 that it has appointed Atsushi Saito (in file photo), former president of the just-disbanded Industrial Revitalization Corp. of Japan, as its new president to replace Taizo Nishimuro, who will become the bourse's chairman. (Kyodo)

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(3)IRCJ starts helping indebted but viable firms

TOKYO, Japan - Atsushi Saito, president of the state-backed Industrial Revitalization Corp. of Japan (IRCJ), speaks at a news conference after his corporation began business in a ceremony in Tokyo on May 8. (Kyodo)

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(2)IRCJ starts helping indebted but viable firms

TOKYO, Japan - Sadakazu Tanigaki, state minister in charge of industrial revitalization, addresses the opening ceremony for the state-backed Industrial Revitalization Corp. of Japan (IRCJ), which began business on May 8. It is charged with a with a mission to help rehabilitate heavily indebted but viable firms. (Kyodo)

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(2) IRCJ decides to bail out Daiei, Misawa Homes

TOKYO, Japan - Daiei Inc. President Toshio Hasumi (R) bows at a press conference in Tokyo on Dec. 28 after the state-backed Industrial Revitalization Corp. of Japan decided to help rehabilitate the struggling retailer and home builder Misawa Homes Holdings Inc. (Kyodo)

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(2)IRCJ not to help rebuild Daiei any more

TOKYO, Japan - Atsushi Saito, president of the state-backed Industrial Revitalization Corp. of Japan, leaves a Tokyo hotel after his talks with Kunio Takagi, president of Daiei Inc. IRCJ said it will stop preparatory procedures to help rebuild the ailing retail giant after Takagi formally rejected calls by the IRCJ and major creditor banks for the company to seek the entity's help, IRCJ officials said. (Kyodo)