By Daisuke Ichikawa / Yomiuri Shimbun Staff Writer
SBI Holdings Inc. and its subsidiary SBI Shinsei Bank Ltd. announced Wednesday that they have decided to fully repay remaining public funds injected into the bank--worth about 230 billion yen--on July 31.
Currently, two government-affiliated entities--the Deposit Insurance Corporation of Japan and the Resolution and Collection Corporation--own preferred shares in SBI Shinsei Bank. SBI Holdings will purchase the preferred shares to conduct the repayment.
Public funds were injected into the Long-Term Credit Bank of Japan Ltd., the predecessor of SBI Shinsei Bank, in 1998 and 2000 after it went bankrupt. About 350 billion yen remained when SBI Holdings turned the bank into its subsidiary in 2021.
In May, SBI Holdings announced the sale of its affiliate, SBI Sumishin Net Bank Ltd., and a third-party allotment of new shares to NTT Corp., which cleared the way for the company to secure about 300 billion yen.
----
This article is from The Yomiuri Shimbun. Neither Dow Jones Newswires, MarketWatch, Barron's nor The Wall Street Journal were involved in the creation of this content.
YDN-m0000123905-1
(END) Dow Jones Newswires
June 25, 2025 09:12 ET (13:12 GMT)
Copyright (c) 2025 The Yomiuri Shimbun