Japan Trust Association Sees Rebuilding Role in Tsunami Areas

Japan’s trust companies plan to assist rebuilding in areas destroyed by the March 11 earthquake and tsunami by providing advice on property ownership, said Takashi Nonaka, the new chairman of the association.

“There are a lot of suggestions we can make when crafting rebuilding measures,” Nonaka, also president of Mizuho Trust & Banking Co., said in an interview on April 1, before taking the chairmanship yesterday. The Trust Companies Association of Japan will make proposals to central and local governments, he said.

Trust companies can use their know-how to offer consultation when finding new land plots to build houses for victims, he said. The magnitude-9 quake off the coast of northeast Japan and the tsunami caused at least 163,000 people to evacuate and damaged or destroyed 55,571 houses.

To contact the reporter on this story: Takako Taniguchi in Tokyo at ttaniguchi4@bloomberg.net.

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net

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