The Industrial Revitalization Corp. of Japan said Tuesday it will help rehabilitate Daikyo Inc.
The financially troubled condominium developer will be the first company from among UFJ Bank's struggling large-lot borrowers to be rehabilitated under the public bailout mechanism.
The IRCJ's decision-making panel, the Industrial Revitalization Committee, made the decision after Daikyo agreed at a board meeting held earlier in the day to apply for IRCJ support.