About 10 financial institutions have agreed to grant a 400-billion-yen ($3 billion) emergency loan to Tokyo Electric Power Company Holdings Inc., whose business performance has worsened because of rising fuel prices and the weakened yen.
A major investment fund submitted a buyout proposal to Toshiba Corp. on Feb. 9 after securing 1.4 trillion yen ($10.6 billion) in loans from five major Japanese banks.
For the first time ever, Mizuho Bank was charged negative interest rates on deposits made to its Bank of Japan account something expected to cost the megabank 75 million yen ($560,000).
Bank of Japan Governor Haruhiko Kuroda finally conceded after stinging criticism that the weak yen was bad for the domestic economy, yet the central bank had no choice but to maintain its loose monetary policy to shore up the economy.