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Finance

Japan's New Horizon to buy debt of pandemic-hit companies

Regional banks face surge of bad loans as economy struggles with COVID

New Horizon Capital will establish a fund to buy the NPLs of struggling companies, a move that will give them room to reconstruct their businesses. (Photo courtesy of the company)

TOKYO -- Tokyo-based private equity firm New Horizon Capital will establish a fund to support the reconstruction of businesses by purchasing nonperforming loans from financial institutions, Nikkei has learned, as the pandemic continues to wallop the economy.

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