Japan Lender Takefuji Files for Bankruptcy

Takefuji, the fourth-largest consumer lender in Japan, filed for bankruptcy on Tuesday.
Author:
Publish date:

TOKYO (

TheStreet

) --

Takefuji

, the fourth-largest consumer lender in Japan, filed for bankruptcy on Tuesday.

In a statement, Takefuji said it had debt of 433.6 billion yen ($5.1 billion).

Takefuji's filing makes it the biggest consumer lender to fail under the weight of court-ordered interest repayments and tighter lending rules, according to

Reuters

.

Takefuji shares will be delisted from the Tokyo Stock Exchange at the end of October.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here:

Joseph Woelfel

>To submit a news tip, send an email to:

tips@thestreet.com

.