{
    "success": true,
    "data": {
        "id": 1513579,
        "msgid": "marubeni-enters-manila-1447893297",
        "date": "1997-09-13 00:00:00",
        "title": "Marubeni enters Manila",
        "author": null,
        "source": "AFP",
        "tags": null,
        "topic": null,
        "summary": "Marubeni enters Manila TOKYO (AFP): Japanese trading house Marubeni Corp. is considering entering the banking business in the Philippines by setting up a savings and loan association in a joint venture with a local conglomerate next month, officials said yesterday. The Nihon Kogyo Shimbun, quoting financial sources, reported that operations would start in early 1998.",
        "content": "<p>Marubeni enters Manila<\/p>\n<p>TOKYO (AFP): Japanese trading house Marubeni Corp. is<br>\nconsidering entering the banking business in the Philippines by<br>\nsetting up a savings and loan association in a joint venture with<br>\na local conglomerate next month, officials said yesterday.<\/p>\n<p>The Nihon Kogyo Shimbun, quoting financial sources, reported<br>\nthat operations would start in early 1998.<\/p>\n<p>The move takes advantage of Japan's foreign exchange<br>\nderegulation to be implemented from next April, which has<br>\neffectively prevented a non-financial firm's direct advance into<br>\noffshore banking, the industrial daily reported.<\/p>\n<p>Marubeni plans to launch the venture with Prudential<br>\nInsurance, controlled by the Coyuto family, the paper said.<\/p>\n<p>A company spokesman declined to elaborate on the plan, saying:<br>\n\"Nothing disclosable has been decided.\"<\/p>\n<p>The venture will have an initial capital of about 300 million<br>\npesos (US$9.6 million). The Japanese trader will own 40 percent<br>\nwith Prudential holding the balance, the paper said.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/marubeni-enters-manila-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}