Asahi Bank to boost loan reserves, take loss

Article Abstract:

Asahi Bank Ltd. has introduced a plan to accept major losses in the current fiscal year in order to increase its bad loan reserves. The plan reflects the moves by major Japanese lenders to implement efforts that would be amenable to the market.

Asahi Bank Ltd.

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Trying to avoid shakeouts

Article Abstract:

Sumitomo Bank Ltd. announced that it would forego loans of over $2 billion owed to it by Kumagai Gumi Co. The move shows that Japanese banks are doing everything to prevent a shakeout of poor borrowers.

Receipt of funds, Use of Funds

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Sumitomo to forgive Kumagai debt

Article Abstract:

Sumitomo Bank agrees to forgive $2 billion in loans to Japanese contractor Kumagi Gumi, as part of the construction company's 12 year reorganization plan.

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