Corporations of Japan took the $ 90 billion

Japanese companies appealed to the country's largest banks for loans amounting to a total of 7.5 trillion yen ($ 90 billion) to cope with the consequences of the March earthquake. This is the agency IA Finmarket. The representative of the Bank of Tokyo-Mitsubishi UFJ Ltd. Hsin Matsumoto said the bank has received applications for loans volume of about 2.5 trillion yen. Sumitomo Mitsui Banking Corp. and Mizuho Corporate Bank Ltd. received an application about the same amount, the bank said. Earthquake in Japan March 11, 2011 that caused the devastating tsunami that resulted in serious problems at the nuclear power plant in Fukushima, and power outages. In this regard, the supply chain of many Japanese companies including Toyota Motor Corp. and Honda Motor Co., were broken off, forcing them to cut production in Japan and abroad. Large companies need funds to support departments and contractors by providing them with working capital, and it moves up the demand for loans, analysts say SMBC Nikko Securities Hidenori Suezava. "It's basically temporary loans, which allow businesses to operate after a disaster," - said the expert. According to him, the recovery of the Japanese economy needed additional loans and government support. Central Bank of Japan last week announced the launch of the credit program of 1 trillion yen (about $ 12 billion) aimed at supporting companies in the disaster-affected regions.