Japan’s Recruit Hldgs seeks $4.1 bln credit line -Nikkei

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TOKYO, April 10 (Reuters) – Japan’s Recruit Holdings has requested 450 billion yen ($4.14 billion) of credit lines from the nation’s major banks to help it through the coronavirus outbreak, the Nikkei business daily reported on Friday.

The paper said the credit lines were in preparation for paying compensation fees to contract workers as many firms temporarily scale down their businesses.

The recruiting company has requested that three major banks, MUFG Bank, Sumitomo Mitsui Banking Corporation and Mizuho Bank, commit 150 billion yen each, the report said. Recruit Holdings could not be immediately reached for comment outside of normal business hours. ($1 = 108.8139 yen) (Reporting by Kaori Kaneko; Editing by Kirsten Donovan)

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