A ray of hope appeared on an otherwise bleak horizon for Hokkaido Takushoku Bank last March when the ministry of finance arranged for merger talks to begin with Hokkaido Bank. Although both banks were suffering from a mountain of bad assets, Hokkaido Bank’s ratio of soured debts was a mere 7% compared to Takushoku’s 11%.
All seemed to be on track until August 29, when a major Japanese daily reported that the talks had come undone.
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