Japan
Chrysler bankruptcy fears for individuals and businesses are closely linked to the business of Chrysler
Minister of Trade and Economy said yesterday that the government monitors the consequences that could result in bankruptcy of Chrysler from parts suppliers.
"We must take appropriate measures if they are harmed," said Toshihiro Nikai told reporters.
The minister promised that the government will respond appropriately, but declined to give details.
Government aid to the distressed parts makers, mostly small and medium enterprises, it remains a possibility in the midst of general assistance to other sectors of the economy to the recession created by the U.S. financial crisis.
The risk rating firm Standard & Poor's Rating Services said Friday it will not alter its assessment of the Japanese automakers and their suppliers due to the bankruptcy of Chrysler.
The Japanese official added that some Japanese suppliers may not be compensated for their business prior to the bankruptcy of the company, although its relationship with Chrysler is relatively small compared to the overall volume of business.
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