The Financial Supervisory Agency said Monday it has ordered Daihyaku Mutual Life Insurance Co. to clarify who is responsible for the intentional reporting of an erroneous solvency margin ratio to authorities. The struggling midsize life insurer was found to have disguised some of its loans as "subordinated loans" so that it could count them as capital, FSA officials said. Daihyaku, which is trying to rebuild itself with the financial backing of Canada-based Manulife Financial, claimed an erroneous ratio "on purpose" to boost its solvency margin, they said. The agency ordered the firm to clarify the management's responsibility, as well as to take steps to prevent such events from happening in the future. Daihyaku reported a solvency margin ratio of 340 percent at the end of fiscal 1998. However the actual ratio was lower than that figure, the FSA officials said. Some of the loans it had categorized as "subordinated" were in fact collateralized, meaning lenders can collect them even if the insurer goes bankrupt.Sanyo links up with Maytag to produce home appliances OSAKA -- Sanyo Electric Co. and Maytag Corp., a major U.S. home and commercial appliances maker, announced Monday a partnership to develop, market and procure parts for home appliances. The alliance in the three areas is likely to earn each company about $100 million in pretax operating profits over the next five years, Maytag's chief executive officer, Lloyd Ward, told a news conference. Sanyo Chairman Satoshi Iue said the alliance will be the first step toward further cooperation, including the creation of a joint company. Iowa-based Maytag, the third largest home and commercial appliances manufacturer in the United States, posted $4.3 billion in sales in 1999.