Japan to fully privatize Shoko Chukin, lender to small, midsize firms
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The Japanese government is working to fully privatize Shoko Chukin Bank, a lender to small- and medium-sized businesses, sources familiar with the matter said Monday, a move that may net the state over 100 billion yen ($755 million) in a share sale.
Even after privatization, the bank, currently about 46 percent owned by the government, will continue its crisis-response loans, which are low-interest loans offered to businesses affected by disasters, the sources said.
The government aims to submit a bill to parliament during the current session to revise the law on Shoko Chukin as it plans to se...