KOHJIN FAILS
(N.Z P.A.Reuter —Coppriphti TOKYO. Japan, still gripped by a protracted recession, was shaken on Tuesday by the news of the failure of Kohjin Company, Ltd, the biggest Japanese business collapse since World War 11.
The managing director of Kohjin Company, Ltd, (Masaharu Nakamura) a major paper-pulp manufacturer, announced the firm would seek the Tokyo District Court’s application of the company rehabilitation law on Friday, or Saturday. The application would signify a virtual insolvency of the firm, whose total liabilities are estimated at about SUSSOOm. When its affiliate concerns are included, the debt total is fiven as an estimated U5666.7m. This is the biggest business failure in the postwar period, exceeding Sakamoto Spinning Company, Ltd, which failed last year with total liabilities of about SUS2I3.3m.
The Japanese Government and the Bank of Japan decided to make efforts to prevent related companies collapsing in a chain reaction, and to minimise the impact on the nation’s economy.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19750828.2.167
Bibliographic details
Press, Volume CXV, Issue 33933, 28 August 1975, Page 18
Word Count
156KOHJIN FAILS Press, Volume CXV, Issue 33933, 28 August 1975, Page 18
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.