Japan's ETIC helps Senoh restructure
The Enterprise Turnaround Initiative Corporation of Japan (ETIC), the Japanese state-backed turnaround body, has decided to support Senoh Corp, a local sports equipment maker, in the third deal for ETIC to help a failing local company after its support for flagship carrier JAL and PHS operator WILLCOM.
Formed in 1946, Senoh produces gymnastic equipment such as pommel horses and rings. It posted JPY11.3 billion ($122 million) in sales at the end of March 2009, but was suffering from mounted debts due...
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