Financial Times FT.com

Tighter controls hit Japan’s lenders

By Michiyo Nakamoto in Tokyo

Published: May 8 2008 17:42 | Last updated: May 8 2008 17:42

Three of Japan’s leading consumer finance companies on Thursday said revenues and operating profits would be lower again this year as tighter lending standards and lower interest rates put further downward pressure on their operations.

Acom, Promise and Takefuji forecast double-digit drops in revenues in the year to March 2009 as they continue to shrink their loan balances in line with regulatory changes.

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