The Cabinet approved a set of corporate restructuring bills Tuesday, paving the way for the much-touted launch of a government-backed entity tasked with rescuing ailing firms the government deems salvageable.
The two bills were then submitted to the Diet.
One would facilitate the establishment of the tentatively named Industrial Revitalization Corp., which would in turn purchase up to 10 trillion yen in nonperforming loans held by banks.
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