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JAPAN FIRMS EASING UP ON FUND DEMAND: BANK ASSN CHIEF

TOKYO, May 27, 2009 (AsiaPulse via COMTEX) --

Corporate demand for funds has cooled compared to the period between last October and this March, Japanese Bankers Association chairman Katsunori Nagayasu told a news conference Tuesday.

Nagayasu, who is also president of Bank of Tokyo-Mitsubishi UFJ, explained how major companies rushed to bank loans for their funding needs after the capital markets froze last autumn.

"But now, demand is not as strong as it was then," he said, noting that conditions are much calmer.

As for the economy, Nagayasu predicted that conditions would bottom out in the second half of 2009 and could start showing improvements starting around year's end.

"Most companies should complete their production adjustments in the April-June quarter, so production activities could pick up a little earlier than originally expected," he said.

(Nikkei)

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