Industrial Revitalization Corp. plans to buy 7.3 trillion yen in claims on bank loans to troubled companies over two years after it begins full operations in May, the Cabinet Office said Tuesday.
After purchasing the loan claims in the first two years, the government-backed industrial revival body will begin selling them in the second year, according to the preparatory office at the Cabinet Office in charge of preparing the organization's launch.
The IRC is expected to report a loss in its first two years of operation, but the sale of loans is expected to pick up in the third year, leading to an accumulated profit of 42.1 billion yen over five years, the office said.