Nippon Credit Bank

Nippon Credit Bank

A former bank in Japan. Established in 1957, it was implicated in the cozy relationship many banks shared with the Ministry of Finance. In 1998, it was nationalized because of the excessive bad debt it acquired as a result of Japan's bubble economy. It was privatized in 2000 and changed its name to Aozora Bank in 2001.
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Aozora is the successor to the failed Nippon Credit Bank, which was placed under state control during the late 1990s financial crisis.
IN BRIEF: Sumitomo Mitsui Banking is thinking of buying all of the approximately 49 percent stake that Softbank holds in Aozora Bank, formerly Nippon Credit Bank, the Japanese media reported.
Aozora Asset Management is currently owned 100% by Aozora Bank, formerly the nationalized Nippon Credit Bank which was sold to an investment consortium led by Softbank Corp.
Masaharu Hino, the head of the Financial Services Agency (FSA), on Monday expressed concern about whether Nippon Credit Bank (NCB) can ensure its independence from its parent firms.
The governmental Financial Reconstruction Commission (FRC) on Thursday approved a plan to inject 260 billion yen in public funds into Nippon Credit Bank (NCB).
Shinsei's decision paves the way for adoption of a final debt waiver plan for Hazama, whose other creditors, including Nippon Credit Bank (NCB), are also expected to forgive part of their outstanding loans to the contractor.
According to reports, the US$45 billion Internet financier is considering acquiring insolvent Nippon Credit Bank (NCB) as a first step toward setting up an Internet-based banking service.
The afternoon buying was spurred in part by comments from (Liberal Democratic Party (LDP) policy chief Shizuka) Kamei urging the Bank of Japan (BOJ) to take additional measures for monetary easing," said Minoru Shioiri, deputy manager of foreign exchange at Nippon Credit Bank.
In a verdict that is sure to shake up the commercial real estate finance market, a jury for the California Superior Court for Contra Costa County, recently awarded plaintiff/lender, Nippon Credit Bank, Ltd.
Fitch IBCA notes that these developments are similar to those affecting Nippon Credit Bank in early 1997.
The Bank of Tokyo, Nippon Credit Bank, Tokyo Gas Company, JETRO-New York, Japan Travel Bureau International, Maxell and AIWA are a few of the many Japanese companies he has represented.
7 scrapped an earlier ruling that had found three former executives of the now-defunct Nippon Credit Bank guilty of window-dressing and ordered the Tokyo High Court to retry the case.