Industrial Revitalization Corporation


Also found in: Acronyms.

Industrial Revitalization Corporation

An agency in Japan that buys loans from distressed small and medium-sized banks and manages their liquidation or restructuring. The IRC may work with a large bank in carrying out its operations. It was established in 2003 as part of a program to fight deflation in Japan.
References in periodicals archive ?
The Industrial Revitalization Corporation of Japan has decided to help rehabilitate struggling retailer Daiei Inc.
Ironically, much of this will be done outside of the Industrial Revitalization Corporation of Japan (IRCJ), a semi-governmental organization set up with the express purpose of revitalizing Japan's global competitiveness.
The state-backed Industrial Revitalization Corporation of Japan, to which Daiei eventually turned for assistance, suspects Daiei is charging its real estate subsidy exorbitant rent to pad its earnings.
Mitsui Mining fell 4 yen to 96 yen despite an announcement Monday that the state-backed Industrial Revitalization Corporation of Japan will bail out the firm under its restructuring program.
The Industrial Revitalization Corporation, a joint-stock company soon to be launched by the government, will face many difficulties.
Creating the Industrial Revitalization Corporation is pointless if it serves to prolong the lives of ailing companies that will eventually fail.
Six months have passed since the government announced plans to establish the Industrial Revitalization Corporation. Takagi's appointment as the corporation's chairman was made after the government waffled on the issue to the very end.
Full browser ?