I recently found the article that was 1.5 years ago. "Food for Zombies" is apparently a sore spot for Noumi (Head of INCJ) in an article by Reuters, Published Jan 12, 2012 Updated: Jan 13, 2012 and stated "his fund is not a state-backed bailout body to keep alive "zombie companies", mindful of public criticism of other government-sponsored entities such as the Industrial Revitalization Corp. of Japan. Noumi said the mission of his fund is to provide financing to businesses with growth potential, not to fund corporate turnarounds with taxpayers' money.".
the article made no mention of the investment in Hitachi(TCM) and Nissan.
I feel the recent developments are just a piece of the puzzle, to help understand why
1. Over 1.5 years ago TCM started marketing Nissan/Barrett's line of pallet trucks and tuggers.
2. Hitachi soon discontinued financing dealers and liquidated their own inventory and that of other dealers.
3. TCM closed CIM in Houston
4. Suspended production in South Carolina
5. TCM carefully interrupted and changed the dealer network
I'm also surprised there has not been any discussion about the Recent Nissan dealer lawsuit in Missouri.
I believe this was well planned, but I've never been to Japan. Just like Rip Van Winkle was never on the Catskills.
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