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LTCB seeks taxpayers' money for capital base

LTCB seeks taxpayers' money for capital base

TOKYO, Japan - Masamoto Yashiro, president of the Long-Term Credit Bank of Japan (LTCB), arrives at the office of the government's Financial Reconstruction Commission (FRC) on March 3 to file a formal request for an injection of taxpayers' money to strengthen the bank's capital bases. LTCB, which New LTCB Partners CV. (NLP), a group of financial companies led by U.S. fund Ripplewood Holdings LLC, has just bought from the government, is seeking 240 billion yen in public funds.

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LTCB board members hold first meeting

LTCB board members hold first meeting

TOKYO, Japan - The 14 board members of the newly privatized Long-Term Credit Bank of Japan (LTCB) hold their first meeting in Tokyo on March 2. The bank was bought March 1 by New LTCB Partners CV. (NLP), an Amsterdam-based international consortium led by U.S. fund Ripplewood Holdings LLC, as the first major Japanese commercial bank to come under foreign ownership.

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