Amusement park operator Huis Ten Bosch Co. has asked its main creditor, the Industrial Bank of Japan, to forgive 33.1 billion yen in loans and its other creditor banks to grant it a five-year grace period to repay the principal, industry sources said Saturday.
The IBJ has agreed to the waiver and the other creditor banks are expected to accept the offer, the sources said.
The agreement brings to 53.3 billion yen the amount of loans the IBJ will forgive as the bank has already waived 20.2 billion yen in loans.
On Thursday, Huis Ten Bosch announced a restructuring plan that includes job cuts, debt forgiveness by banks and the closure of the main attraction at its theme park in Sasebo, Nagasaki Prefecture.