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Japan : METI approves Kanebo''s business plan

2004-8-19

Struggling apparel maker Kanebo Ltd and eight affiliated companies under the Industrial Revitalization Law has been approved a business revival plan by The Ministry of Economy, Trade and Industry.

With the ministry decision, Kanebo and the affiliates will be accorded tax breaks to promote the revival plan, which includes loan waivers by creditor banks and a capital reduction and increase by Kanebo.

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