INTERVIEW: Coronavirus Crisis May Rekindle Bad-Loan Problems
Tokyo, May 1 (Jiji Press)--Business turnaround expert Kazuhiko Toyama has warned that the global coronavirus crisis may rekindle bad loan problems in and outside Japan.
The Japanese government "should prepare a variety of policies," Toyama, chief executive officer of Tokyo-based Industrial Growth Platform Inc., said in a recent online interview.
He also pointed to the possibility that the COVID-19 crisis may hurt the financial bases of regional financial institutions and smaller businesses.
The government was quick in devising financing support for virus-affected companies, such as interest-free loans, but the focus will shift to how to recover the financial soundness of companies, he said.
Toyama said that the government "should make a wide variety of assistance measures available to small and midsize businesses in areas outside Tokyo, global companies and major banks."
[Copyright The Jiji Press, Ltd.]