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MMC names head of ethics committee

TOKYO, Japan - Struggling Japanese automaker Mitsubishi Motors Corp. said June 27 it has named Noboru Matsuda (in file photo), former governor of the state-backed Deposit Insurance Corp. of Japan, as the chairman of its Business Ethics Committee to be launched on June 29. Matsuda, 70, will head the committee of outside experts charged with directly advising MMC's board of directors on issues concerning ethics, MMC said.

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Gov't to pour 3.2 tril. yen into NCB before sale

TOKYO, Japan - Noboru Matsuda, head of the state-run Deposit Insurance Corp. (DIC), speaks at a news conference at his office Aug. 25. Under a scheme endorsed by the government earlier in the day, DIC will provide financial assistance to the nationalized Nippon Credit Bank (NCB), including the purchase of its bad loans, to help bolster the failed bank's capital base.

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Softbank signs NCB deal

TOKYO, Japan - Noboru Matsuda (L), head of the state-run Deposit Insurance Corp. (DIC), and Masayoshi Son (C), president of Internet investor Softbank Corp., sign documents on the purchase of failed Nippon Credit Bank (NCB) on June 30. Under he deal, the Softbank consortium will pay the government one billion yen for all outstanding NCB common shares and another 100 billion yen to bolster NCB's capital base.

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Merger announced to create new debt-collection body

Kohei Nakabo (L), president of the Housing Loan Administration Corp., and Shigeru Mizuno (R), president of the Resolution and Collection Bank, shake hands on Dec. 25 with Noboru Matsuda (C), president of the government's Deposit Insurance Corp., after signing a contract for merger of their two organizations on next April 1 to become a new government-backed debt collection body. The new corporation, aimed to facilitate clean up of the bad loans plaguing the Japanese financial system, is to be funded entirely by Deposit Insurance Corp. that bails out troubled banks.

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Gov't to pour 3.2 tril. yen into NCB before sale

TOKYO, Japan - Noboru Matsuda, head of the state-run Deposit Insurance Corp. (DIC), speaks at a news conference at his office Aug. 25. Under a scheme endorsed by the government earlier in the day, DIC will provide financial assistance to the nationalized Nippon Credit Bank (NCB), including the purchase of its bad loans, to help bolster the failed bank's capital base.

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MMC names head of ethics committee

TOKYO, Japan - Struggling Japanese automaker Mitsubishi Motors Corp. said June 27 it has named Noboru Matsuda (in file photo), former governor of the state-backed Deposit Insurance Corp. of Japan, as the chairman of its Business Ethics Committee to be launched on June 29. Matsuda, 70, will head the committee of outside experts charged with directly advising MMC's board of directors on issues concerning ethics, MMC said. (Kyodo)

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Softbank signs NCB deal

TOKYO, Japan - Noboru Matsuda (L), head of the state-run Deposit Insurance Corp. (DIC), and Masayoshi Son (C), president of Internet investor Softbank Corp., sign documents on the purchase of failed Nippon Credit Bank (NCB) on June 30. Under he deal, the Softbank consortium will pay the government one billion yen for all outstanding NCB common shares and another 100 billion yen to bolster NCB's capital base.

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FRC OK's write-off of Sogo's debt

TOKYO, June 30 Kyodo - Noboru Matsuda, head of the state-run Deposit Insurance Corp. (DIC), speaks at a news conference June 30 following approval by the government's Financial Reconstruction Commission (FRC) of the proposed purchase and partial write-off by DIC of 200 billion yen in loans to financially troubled department store operator Sogo Co.

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New LTCB to open as FRC approves agreement

TOKYO, Japan - The Financial Reconstruction Commission on Feb. 9 approved the final agreement on the sale of the nationalized Long-Term Credit Bank of Japan (LTCB) to an international consortium led by U.S. fund Ripplewood Holdings LLC. The new LTCB begins operations March 2. Among the signatories to the agreement were Masamoto Yashiro (third from R), as representative of New LTCB Partners, LTCB President Takashi Anzai (second from L), Noboru Matsuda (third from L), governor of Deposit Insurance Corp. (DIC), which owns LTCB's 2.4 billion common shares, Ripplewood founder Timothy Collins (second from R), and Christopher Flowers (R), former head of the Goldman Sachs Financial Institutions Group. At left is Keiji Matsuda, deputy governor of DIC.