May 13, 2020 / 8:28 PM / 24 days ago

Japan govt to create scheme to inject capital into pandemic-hit firms -Nikkei

TOKYO, May 14 (Reuters) - Japan’s government will create a scheme to inject capital into large and mid-size companies suffering the hit from the coronavirus pandemic, the Nikkei newspaper reported on Thursday.

Under the scheme, government-affiliated lenders will invest in ailing companies by offering subordinated loans or accepting preferred shares, the paper said.

The scheme will be included in a fresh package of measures the government will map out to cushion the economic blow from the pandemic, and funded partly by a second supplementary budget for the current fiscal year, the paper said without citing sources. (Reporting by Leika Kihara Editing by Chris Reese)

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