TOKYO -- Japan's three major financial institutions, Mizuho Bank, Sumitomo Mitsui Banking and Bank of Tokyo-Mitsubishi UFJ, are said to be considering loans to Kobe Steel totaling 50 billion yen as the embattled steelmaker seeks to allay credit fears owing to the ongoing data falsification scandal.
The banks have started preparing the funds requested by the steelmaker. Kobe Steel will use the loans in case it becomes difficult to roll over its corporate bonds, of which 100 billion yen are currently in circulation.
