Financial Times FT.com

Blow for Japan’s consumer finance sector

By Michiyo Nakamoto in Tokyo

Published: July 15 2007 21:51 | Last updated: July 15 2007 21:51

Japan’s consumer finance sector faces another setback after a Supreme Court ruling that is likely to increase the reimbursements companies have to make to borrowers for what previous court rulings have deemed to be excessive interest charges.

The court said on Friday that Eiwa, an unlisted consumer finance company, must add a 5 per cent annual payment to the interest it will repay two borrowers who claim they overpaid on their debt.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this