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Saturday, May 5, 2012

79% of small, midsize firms' sales rebound from 3/11


Japan Finance Corp. has said that 79 percent of its 1,165 disaster-hit small and midsize corporate clients have seen sales recover to more than 80 percent of normal levels.

But of the total businesses surveyed, sales remained at 50 percent or less among 7 percent, mostly firms operating in Tohoku's shattered coastal areas.

"Such companies need intensive support in the months to come," one of its officials said.

The government-backed lender has so far extended ¥124 billion in total loans to 724 companies directly affected by the catastrophe, and has eased the terms of existing loans for 92 more firms.

JFC loaned Tohoku trillions

Loans by Japan Finance Corp. to small and midsize firms, as well as to farmers, fishermen and forestry workers hit by last year's natural disasters, totaled ¥2.76 trillion as of the end of March.

The number of such loans extended came to 167,208, and borrowers include those directly affected by the quake, tsunami and nuclear crisis, as well as those hit by disrupted supply chains, it said.

Most of the loans were used for business operations, and were even extended to borrowers local private banks turned down.

Small and midsize firms forced to evacuate or suspend operations because of the nuclear crisis received loans totaling ¥6.4 billion in 292 cases.

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