Shinsei Bank | MURAI PRODUCTS CO.,LTD : Nishiuracho, Fukakusa, Fushimi-ku

Headquarters: Tel: +81 7 7124 5941 Tel: +81 6 6348 6380
Products : Foods, Daily Supplies, Shinkin Bank
MCLOGI : Shinsei Bank is the successor of a trust bank, the Long-Term Credit Bank of Japan, which had a government monopoly on the issuance of many long-term debt securities. Following the collapse of the Japanese asset price bubble in 1989, the bank was riddled with bad debts: the government nationalized it in 1998, and it was delisted from the Tokyo Stock Exchange. After several proposed mergers with domestic banks, LTCB was sold to an international group led by US-based Ripplewood Holdings in March 2000 for ¥121 billion, the first time in history that a Japanese bank came under foreign control. Investor Christopher Flowers also played a major role in the buyout syndicate and remains a key shareholder of the company today.
As part of the purchase and sale agreement, the government included a "defect warranty provision" (瑕疵担保条項 ) to the effect that Shinsei could demand within the next three years that the government purchase any claims which had fallen by twenty percent or more from book value. A similar provision was afforded Aozora Bank, the successor of LTCB's similarly beleaguered sister company Nippon Credit Bank.

Category:

People & Blogs

Tags:

• Nishiuracho
• Fukakusa
• Fushimi-ku
• Kyoto
• 612-0029
• japan
• MURAI PRODUCTS
• Shinsei Bank
• tokyo
• headquarters