TOKYO -- Companies defaulting on payments will not be blacklisted for the foreseeable future under measures announced Friday by the Japanese Bankers Association, a move to help cash-poor small and midsize businesses survive the coronavirus pandemic.
As much as 184 trillion yen, or $1.7 trillion, was held in bills of exchange or promissory notes in Japan last year. Despite electronic alternatives, many small and midsize businesses still rely on paper promissory notes, which let them push back settlements a few months.
