Local News

The Financial Services Agency reports that the number of companies in the money lending business in the seven Kyushu prefectures as of the end of June had fallen to 369, a 50.2% drop from the previous year. One reason for the decline is their mandated obligation to return the excessive interest paid by borrowers. The law governing businesses in this sector was toughened in June, and the trend toward companies either closing or going bankrupt is accelerating.