Society Corporate Restructuring (tentative) / Fujishima 介翔

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The so-called "0 0 loans" were created to provide financial institutions with loans under exceptional conditions to small and medium-sized enterprises (SMEs) and micro-enterprises whose sales have declined due to the COVID-19 pandemic. Between January 2020 and February 2022, about 970000 "0 0 loans" by the Japan Finance Corporation amounted to about 16 trillion yen, and about 1.95 million "0 0 loans" by private financial institutions and credit guarantee corporations amounted to about 37 trillion yen. While interest payments and principal repayments will begin in the future, even after the COVID-19 pandemic ends, the economy will not return to pre-COVID-19 levels. Rather, inflation has been created due to supply shortages caused by the reopening of the economy and high energy prices caused by the conflict in Ukraine. In this report, we summarize the outline of the newly launched "Coronavirus Refinancing Guarantee" and give a strategic perspective on the current situation and future of SMEs.