A Japanese Reformer With Kid Gloves

Can Michio Ochi keep the financial restructuring drive going?

Japanese bank executives called it the reign of terror. It began when Hakuo Yanagisawa, 64, became financial reconstruction minister in December. He and a small army of lawyers and accountants grilled Tokyo's patrician bank presidents relentlessly about the true state of their loan books and hectored endlessly about restructuring. "He had a very harsh stance toward us," complains one executive at a major Tokyo trust bank.

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