The Bank of Japan headquarters in Tokyo Photo: REUTERS file
business

Bank of Japan boosts aid for coronavirus-hit firms

20 Comments
By CHARLY TRIBALLEAU

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20 Comments
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The key is to help all businesses equally, not focus on any one type, ie not only give massive bailout money to certain sized companies in certain industries. Otherwise inequality will cause bitterness. Help all the small businesses and part time workers equally. Announce that help, cheer people up across the board.

3 ( +3 / -0 )

Print me money please (apparantly).

Everyone who owns even the smallest business is getting over a million and a half of recently printed monies.

-3 ( +0 / -3 )

Did anyone get their 100000 ¥ as of yet?

2 ( +2 / -0 )

Let's see how the city ward distribution process layered on top of government paperwork works out. I predict in three months the department of Labour and industry will release figures that say only 2% of applications were accepted?

2 ( +2 / -0 )

Zero-interest loans with no guarantees the money will be used for socially enriching projects or even innovative ideas, retaining jobs or stabilizing wages. If capitalists really believed in the invisible hand of the market and free wheeling capitalism such loans would not be limited to just established firms but those with the best ideas.

0 ( +0 / -0 )

Dagon,

Actually if capitalists really believed in the free market they wouldn't apply for the loan. Nor would they need to because they'd have surplus cash on hand to weather economic downturns.

And fire unneeded employees and hire employees when needed (not just in April).

But there aren't any capitalists when free loans are available.

2 ( +2 / -0 )

Be careful BOJ!!!!!!  I recall stories in the past with these kind of loans, the yaks quickly set up a bunch of companies, received the loans then quickly disappeared with a TON of $$$$

My guess is they are just itching to apply

-2 ( +0 / -2 )

Guys, don't forget to exchange your YEN from BoJ to US dollar as soon as possible! It's always better to have the world leading currency instead of tons of papers from Bank of Japan.

-3 ( +0 / -3 )

My boss told me that because the number of employees in the company was under 10 that no money was available.

The result of this is at least one staff member quitting and moving to the US

1 ( +2 / -1 )

Consumer spending has slowed to a crawl despite Japan's relatively low infection numbers and death toll from the pandemic. A recent spike in cases in Tokyo has raised fears of a second wave.

How will it not slow to a crawl, when the 100K yen to help tide the pandemic and stimulate the economy is being dispensed at a snail pace.

50 days and counting since I applied there is yet no payout from the gov't all the while car tax and city tax have arrived with a dateline for me to pay. meanwhile my ecommerce business is at a grinding halt since the post office doesn't accept packages and those that it accepted in late March and April have been returned after being in the keeping of Japanpost for over a month leaving me with refunds and unnecessary inventory.

0 ( +0 / -0 )

50 days and counting since I applied there is yet no payout from the gov't 

Was anyone even able to apply 50 days ago?....if yes, then I would suggest there might be something wrong with your application if you still have not got your money.

0 ( +0 / -0 )

Water bills, gas bills, electricity bills, phone bills, rent etc-my 100,000 yen has already gone before I have it...

0 ( +0 / -0 )

Kurisupisu your boss is talking rubbish then, all Any small business just needs to show is 1 month where the companies income has dropped 50% compared with the same period last year, it doesnt matter if its 2 or 12 employees .

0 ( +0 / -0 )

It’s the local authority disbursing the money not the government-many Japanese I know have not received anything-there’s nothing wrong at all, just inefficient administration.

-1 ( +0 / -1 )

ジゾクカキユウフキングチ is available to all small business that can show 50% decrease in income as a hand out non repayable.

0 ( +0 / -0 )

Entitled upto 2 million yen

0 ( +0 / -0 )

My accountant applied on 2nd May and our company received the promised amount on 16th May, couldn't believe but it's s fact

1 ( +1 / -0 )

Yup.

Even small business owners here in Osaka get 1 mill + ¥600,000.

Oh you don’t qualify? Aight downvote me again

1 ( +1 / -0 )

If capitalists really believed in the invisible hand of the market and free wheeling capitalism such loans would not be limited to just established firms but those with the best ideas.

According to capitalists, the best ideas are determined by the market, not by government officials with zero business skills but a whole lot of special interests they feel obligated to support.

1 ( +2 / -1 )

According to capitalists, the best ideas are determined by the market.

Collateralized debt obligations in the early 2000s whose underlying assets were subprime mortgages were "determined by the market," and they were a devastatingly bad idea. The capitalists are obviously wrong.

0 ( +0 / -0 )

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