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Yanagisawa speaks on Chubu Bank case

TOKYO, Japan - Financial Services Minister Hakuo Yanagisawa speaks with the media on the application for insolvency proceedings filed March 8 by Chubu Bank

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Chubu Bank files for insolvency proceedings with FSA

SHIZUOKA, Japan - Troubled Chubu Bank, a second-tier regional bank based in the city of Shizuoka, filed for insolvency proceedings with the Financial Services Agency (FSA) under the Deposit Insurance Law on March 8.

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Ishikawa Bank president bows at news conference

KANAZAWA, Japan - Ishikawa Bank President Atsushi Kawaguchi bows at a news conference at the bank head office in Kanazawa on Dec. 28 after his bank filed for insolvency proceedings with the Financial Services Agency. The Bank of Japan decided to provide unlimited, unsecured loans to Ishikawa Bank to help it meet daily fund requirements.

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Yanagisawa speaks on Ishikawa Bank insolvency

TOKYO, Japan - Financial Services Minister Hakuo Yanagisawa speaks with the media on application filed by Ishikawa Bank for insolvency proceedings Dec. 28. He expressed support for Prime Minister Junichiro Koizumi's reported intention to bail out the banking sector with public funds to avoid a financial crisis.

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Taisei Fire collapses under Sept. 11 attack claims

TOKYO, Japan - Ichiro Ozawa (standing), president of Taisei Fire & Marine Insurance Co., bows at a news conference at the Bank of Japan's head office in Tokyo on Nov. 22. Ozawa said the midsize casualty insurer filed for insolvency proceedings that day due to the weight of massive claims stemming from the Sept. 11 terrorist attacks in the United States.

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Insolvency steps imminent for Kansai Kogin

OSAKA, Japan - Lee Chong Im (L), president of Kansai Kogin, an Osaka-based credit company serving mostly South Korean residents of Japan, speaks at a news conference in Osaka on Dec. 15 on the Financial Reconstruction Commission's decision to begin insolvency proceedings for the bank. Seated to his right is Vice President Park Chung Hong.

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JDI President Kikuoka at a press conference

Japan Display Inc. (JDI) has finalized a new fundraising framework totaling over 100 billion yen. In addition to raising 80-90 billion yen from Ichigo Asset Group, an independent investment fund, JDI will also sell some of its facilities at its Hakusan plant (Hakusan, Ishikawa Prefecture) to Apple Inc. On April 12, JDI announced that it had reached a basic agreement with Ichigo Trust to raise up to 90 billion yen from Ichigo. Minoru Kikuoka, president of JDI, explained the purpose of the framework at a press conference on January 12, saying, "We will sell assets in order to enhance our capital and at the same time minimize the impact on existing shareholders through dilution. He explained the purpose of the framework. Wistron, a major Taiwanese electronics manufacturing service (EMS) company, also intends to invest 50 million dollars (about 5.4 billion yen) in JDI. December 12, 2019, Tokyo, Japan; Credit: Nikkan Kogyo Shimbun / Kyodo News Images

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