M&A - Battle for survival

Japan's financial industry might be benefiting generally from the country's revitalised economy, but there is a blemish besmirching the landscape: consumer finance. The industry has been dealt a body blow via legislation that reduces maximum lending rates, raising the likelihood of major consolidation and putting distressed debt firms on alert. While the reasons for such action may be commendable, has the government struck too hastily? Richard Morrow reports.