Danger zone
Article Abstract:
Japanese stock market analysts are speculating on the future of some Japanese companies following the bankruptcy of Yamaichi Securities Co. Ltd. in Nov 1997. A number of large companies are in difficulty but analysts are particularly interested in the Fuyo group of companies. The Fuyo group includes Yasuda Trust and Banking Co. Ltd. which, like Yamaichi before its demise, received a junk-bond rating from an American credit-rating agency in Nov 1997. Investors ignored Yasuda protestations of health and sold, forcing Yasuda share prices below the 100 yen crisis level.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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Big man in Tokyo
Article Abstract:
Japanese Prime Minister Ryutaro Hashimoto had to ask the US for assistance when the yen fell to an eight-year low against the US dollar in Jun 1998. The US moved in to help, but the Japanese Prime Minister had to promise that he would speedily address problems in the Japanese tax and financial systems. US Deputy Secretary to the Treasury Lawrence Summers flew to Japan to help the country tackle its problems, but interests of ruling Liberal Democratic Party politicians in wishing to avoid problems for companies which support them could hinder prospects for reform.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1998
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