TOKYO -- Troubled Japanese automotive supplier Akebono Brake Industry will accept a 20 billion yen ($185 million) infusion from a domestic rescue fund and ask lenders to waive nearly half of its loans, carving out the financial breathing room to focus on a turnaround plan.
Companies
Akebono Brake secures $180m bailout from rescue fund
Auto supplier also seeks debt waivers from lenders
Akebono Brake emphasized its U.S. operations, even featuring in a commercial highlighting contributors to the American economy. (Photo by Masayuki Shikata)
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