Industrial Revitalization Corporation

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 sale of Fre'c was coordinated by the Industrial Revitalization Corporation of Japan (IRCJ), a government-affiliated body set up in mid-2003 to purchase the non-performing loans of viable but indebted companies.
said Thursday its Vice Chairman Fumiko Hayashi will resign at the end of March after playing a key role in rehabilitating the ailing retailer under the government-backed Industrial Revitalization Corporation of Japan.
Kazuhiko Toyama is COO & Executive Managing Director of the former Industrial Revitalization Corporation of Japan (IRCJ).
from which Kanebo Cosmetics was spun off last year, the company is under reconstruction supported by the government-backed Industrial Revitalization Corporation of Japan.
The government is actively promoting revitalization, with the earlier passage of a Civil Rehabilitation Law, the Industrial Revitalization Corporation of Japan (IRCJ) with a budget of JPY10 trillion for revitalization companies, METI's revitalization program, and the Development Bank of Japan's investing in private sector buyout funds.
Finally, the Industrial Revitalization Corporation is just about to get fully underway, but it should make the fullest use of the risk money and expertise of the private sector.
According to the Japanese government's plan, huge liabilities--now controlled by the government--would be transferred to the Industrial Revitalization Corporation (IRC).
Prior to joining Nikko, he was a Managing Director and member of the Board of the Industrial Revitalization Corporation of Japan ("IRCJ"), a government-sponsored entity established to assist troubled companies to restructure and reorganize their businesses, from 2003 to 2007.
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 Industrial Revitalization Corporation of Japan (IRCJ) was also founded last May to purchase debt from banks and other creditors and to establish and implement viable restructuring plans.
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.
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