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.
During his service at the Financial Reconstruction Commission, the FSA's predecessor -- whose secretariat he began heading in December 1998 -- and then at the FSA, Japan sold back to the private sector the Long-Term Credit Bank of Japan and Nippon Credit Bank
, both of which the government had nationalized in 1998.
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 nationalized Nippon Credit Bank
, which will be sold Friday to a consortium led by Internet investor Softbank Corp., is reportedly likely to decide to write off some 5 billion yen in Hazama loans after Friday's transfer.
Several major institutions such as Yamaichi Securities, Hokkaido Takushoku Bank, Sanyo Securities, Nippon Credit Bank
, and others have gone bankrupt or been nationalized.
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 Industrial Bank of Japan (IBJ), Long-Term Credit Bank of Japan (LTCB) and Nippon Credit Bank
(NCB) said Thursday they will slash their long-term prime
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
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.