Japan's economic crisis has produced more than its fair share of newsprint in recent days. In the spirit of public service, the Margin has compiled its own synopsis to help readers in their understanding of the scale of the problem.
Following last week's news that both the Origami and its associated Futon Bank had folded, reports have come through that the Sumo Bank of Kioto has gone belly up, although the directors are grappling with the problem. Additionally Bonsai Bank is planning to cut back some of its branches and Karaoke Bank is said to be up for sale and (you guessed it!) is going for a song. The crisis has zapped the Nintendo Corporation and over at the Gesiha Corporation management is hinting at some, as yet unknown, hidden saleable assets which will help it survive this downturn. Meanwhile, the crisis at Susike Bank has accelerated and Feng Shui Asset Management is repositioning itself nearer the corporate mirror to maximise energy flows. As if all that was not enough the news is coming through that shares in Kamikaze Bank have nose-dived, 500 back office staff at Karate Bank have been given the chop and analysts report something fishy going on at Sushi Bank with staff and clients fearing they may get a raw deal.