Japan backs a merger, not failure, for LTCB

Article Abstract:

Long-Term Credit Bank of Japan Ltd.'s announcement of a restructuring may calm fears worldwide about Japan's financial system. However, the strategy may fall short of what others hoped for. Some believe that Japan will have to accept some short-term difficulties in exchange for longer-term economic stability. The bank said in August 1998 that its senior managers and board members would be resigning. Long-Term also said that it will shutdown its offices overseas and downsize its staff by 20%.

Comment:

Long-Term Credit Bank of Japan Ltd. announcement of a restructuring may calm fears worldwide about Japan's financial system

Organizational history, Long-Term Credit Bank of Japan

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Bank-reform efforts seem to advance in Tokyo as filing by Japan Leasing softens lawmakers

Article Abstract:

Legislators in Japan were engaged in talks on September 28, 1998 as they worked to reach an agreement on the details of a bank reform package. The package must meet a deadline during the week of October 4-10, 1998. The package includes measures that will grant the banking system some much needed funding. The ruling Liberal Democratic Party and three opposition parties expect the package to pass through parliament by the end of the session.

Comment:

Japan: Legislators engaged in talks on September 28, 1998 as they work on the details of a bank reform package

Government regulation (cont), Legal/Government Regulation

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GE, Japanese finance firm holding talks

Article Abstract:

General Electric Capital Services Corp. is engaged in talks with Lake Co. over a deal that could entail the takeover of Lake, a consumer-finance company based in Osaka, Japan. The talks reflect the aggressiveness of US financial companies in their efforts to expand into the Japanese market. GE Capital is believed to be intrested in Lake's short-term consumer loan business, which is its core business.

Comment:

General Electric Capital Services Corp. engaged in talks with Lake Co. over a deal that could entail the takeover of Lake

Strategy & planning, Consumer Lending, Business Credit Institutions, All Other Nondepository Credit Intermediation, Geographic, Consumer Finance Institutions, Commercial finance companies, Consumer finance companies, Lake Company Ltd., General Electric Capital Services Corp.

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