Japan to fully privatize Shoko Chukin, lender to small, midsize firms

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...