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IRCJ Industrial Revitalization Corporation of Japan

IRCJ Industrial Revitalization Corporation of Japan. November.10th,2003 Professor Dr. Shinjiro Takagi Chairman Industrial Revitalization Commission. Bubble bust of land prices in Japan

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IRCJ Industrial Revitalization Corporation of Japan

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  1. IRCJ IndustrialRevitalization Corporation of Japan November.10th,2003 Professor Dr. Shinjiro Takagi Chairman Industrial Revitalization Commission

  2. Bubble bust of land prices in Japan Non or poor performing loans (NPLs) Jan,1995 Resolution and Collection Bank (RCB) July,1996 Housing Loan Administration Corporation (HLAC) April,1999 Resolution and Collection Corporation (RCC) April.2003 Industrial Revitalization Corporation of Japan (IRCJ) IRCJ 1. Introduction

  3. 2．Process of IRCJ IRCJ Exit Entry I R C J RevivedCompany Banks Indebted Company New Money RestructuringPlan Evaluation Main Bank Strategic Sponsors Non-Main Banks Non-Main Banks Private Equity Fund Non-Main Banks Non-Main Banks Loan Assets Purchase Sale Investment Banks DES Banks

  4. The ministers in charge supervise the operation of IRCJ, executives and members of the board of directors and IRCJ Commission are under approval of the ministers. IRCJ can raise money as much as 10trillion Japanese Yen with government guarantee. IRCJ must exit within three years after purchasing the loans. Total lifetime of IRCJ is limited to five years. 3. Feature of IRCJ IRCJ

  5. 4. Organizational Structure IRCJ General meeting of shareholders Auditors Compliance Board of Directors Industrial Revitalization Committee President & CEO COO Professional Office(Front-Line) Supporting Office (Middle) Administration Office

  6. ◆ IRCJ decided to assist eight debtor corporation groups ー Kyushu Sangyo Koutsu (Transportation Company) ー DIA Kensetsu (Condominium developer) ー Mitsui Mining ー Usui Department Store ー Meisei Trading (for chemicals) ー Matsuya Denki (Appliance retail store chain) ー Tsumatsubishi Department Store ー Yagami Trading (for medical supplies) ◆50Candidate Companies IRCJ 5. Cases

  7. IRCJ 6. Points • Attitude of Mega Banks • IRCJ’s valuation of collateral • DCF method • DES • No compulsory power • Close Corporation with Bank of Japan and Financial Services Agency

  8. IRCJ Industrial Revitalization Corporation of Japan Inquiries: Corporate Planning Office +81-3-6212-6400 (Switchboard) Home Page: www.ircj.co.jp

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