| BUSINESSWEEK ONLINE : MARCH 15, 1999 ISSUE | ||||||||
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| INTERNATIONAL -- INT'L COVER STORY
The Woes at Japan's Major Keiretsu... FUYO Its Fuji Bank is seeking a government bailout, while Nissan struggles with $21 billion in debt. Hitachi expects a $3 billion loss this year. MITSUI Member Toshiba Corp. expects to post its first loss in 23 years. Sakura Bank is seeking help from the government. SUMITOMO Electronics maker NEC Corp. and Sumitomo Metal Mining expect huge losses this year. DAI-ICHI KANGIN Dai-Ichi Kangyo Bank, linchpin of the group, needs a $7.6 billion government bailout. ...And What It Means for Japan DEPRESSED STOCK MARKET As keiretsu members scramble for capital, they will keep dumping shares in member companies, forcing stocks down. MOUNTING JOBLESSNESS The banks and electronics companies in the keiretsu are finally drawing up plans to ax workers. Expect more painful restructuring. PULLBACK FROM ABROAD Focusing on their problems at home, the keiretsu will sell overseas assets. NEW CORPORATE STRUCTURES As keiretsu pull apart, more independent companies will emerge. DATA: COMPANY REPORTS, BUSINESS WEEK _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ BACK TO TOP |
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