Isetan Mitsukoshi Holdings 80 billion yen loan line request April 23 23:12
The department store industry continues to face a severe business environment, including the suspension of business due to the spread of the new coronavirus. Isetan Mitsukoshi Holdings Co., Ltd. found that it requested the bank to set up a loan facility of 80 billion yen in order to secure a large amount of funds at hand.
According to the people involved, Isetan Mitsukoshi Holdings is in the process of negotiations, asking Mitsubishi UFJ Bank and Sumitomo Mitsui Banking Corporation to set up a loan facility of 80 billion yen.
In addition, we are coordinating with the Development Bank of Japan to raise funds using a special lending system called crisis credit.
In addition to being forced to take a temporary leave until the beginning of next month due to the declaration of emergency from 7th of this month, the aim is to secure a large amount of funds at hand in anticipation of how far the effect of the spread of infection will continue. .
Sales at a major department store have fallen by a record amount last month, and stores in the area subject to the declaration of emergency have been closed, so there are other moves to secure a large amount of funds. There is a possibility.