Sixth Claim-Purchase Investment by the Noto Earthquake Reconstruction Fund

The Regional Economy Vitalization Corporation and the Organization for Small and Medium Enterprises and Regional Innovation jointly established a fund with Ishikawa Prefecture and regional financial institutions to address the double-debt problems of businesses affected by the 2024 Noto Peninsula Earthquake and the disaster involving torrential rain caused by a low-pressure system and front on September 21, 2024.

A consultation framework has been established, including support for cash-flow management toward recovery and reconstruction, and a consultation center has been opened to connect consultations with claim-purchase support and other assistance through the fund.

The consultation center has received consultations about using the fund from multiple businesses across three cities and three towns in Noto and will continue providing support.

The target business is a retailer located in Suzu City. Its equipment and other assets were damaged by the earthquake, disrupting its operations, and the claims will be purchased to help it obtain the funds needed to repair the equipment and other assets. The business plans to use the Ishikawa Nariwai Reconstruction Support Subsidy.

After concluding claim-transfer agreements with existing creditors, the fund will purchase claims related to debt incurred before the disaster and take other measures. It will improve the business's financial position through partial debt forgiveness and other measures and support new financing from financial institutions.