Nochu to Recapitalize JV Hit by $1 Billion First Brands Loss

Norinchukin Bank is discussing a capital injection into a joint venture that said its estimated loss from debt linked to First Brands Group has ballooned to almost $1 billion.

JA Mitsui Leasing Ltd. will book a ¥150.5 billion ($968 million) allowance on the collapsed US auto-parts supplier, more than three times what it had set aside in November, the company said in a statement on Tuesday.