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Japan to offer $112bn safety net to companies hit by pandemic

Goal is to prevent credit downgrades and help businesses get private financing

The Japanese government's $112 billion assistance package aims to shore up the finances of companies hit by the coronavirus, helping them obtain private credit. (Photo by Wataru Ito)

TOKYO -- The Japanese government will provide 12 trillion yen ($111.62 billion) in aid to companies to help them cope with the effects of the new coronavirus.

The Development Bank of Japan and public-private funds will use subordinated debt and stock purchases to support companies that have seen their finances deteriorate due to the pandemic. It will also help them restructure after the outbreak subsides.

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