With national financial support decreasing and competition in the municipal bonds market intensifying, local governments are trying to enhance their creditworthiness.
"We will strive to secure the soundness of our finances and raise funds based on the principle of self-responsibility," Yokohama Mayor Hiroshi Nakata said at a briefing in Tokyo in early March.
The session was aimed at briefing investors about the reliability of municipal bonds and the city's financial vision.
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