The government confirmed Wednesday that it will sell the nationalized Nippon Credit Bank to a Softbank Corp.-led consortium Sept. 1 under the original contract terms, government officials said.
The confirmation was made by Hideyuki Aizawa, chairman of the Financial Reconstruction Commission, during a meeting with Softbank President Masayoshi Son, the officials said.
Aizawa also assured Son that the government will not toughen conditions relating to a loss-coverage clause in the sales contract.