Jimoto Shareholders OK Extended Deadline for Funds Repayments

Sendai, Miyagi Pref., Sept. 27 (Jiji Press)--Shareholders of Japanese regional banking group Jimoto Holdings Inc. on Friday approved its plans to extend the deadline for repaying public funds by 13 years.

The approval set a new deadline of the end of September 2037 for repaying 20 billion yen in public funds injected into Kirayaka Bank, a Jimoto unit based in the city of Yamagata, in 2009.

Jimoto shareholders, meeting in Sendai, Miyagi Prefecture, also approved a new slate of board members after Chairman Koji Kawagoe and President Takashi Suzuki stepped down.

The company will be led by new Chairman Hideki Nishizuka and new President Toshio Sakazume.

At the shareholders' meeting, Nishizuka pledged to revive Kirayaka so that people will think it as a bank necessary in Yamagata Prefecture, according to Jimoto's public relations department.

[Copyright The Jiji Press, Ltd.]