The state-backed Industrial Revitalization Corp. of Japan is taking longer than expected to select its first revival candidate, IRCJ President Atsushi Saito said Friday.
Saito's confession came during the IRCJ's meeting with high-ranking Bank of Japan officials, according to an IRCJ official who briefed reporters after the closed conference.
The entity, tasked with turning around beleaguered businesses, is having a hard time deciding where to begin. It had earlier promised to announce the much-awaited first choice by the end of June or early July.