Aiful Seeks Debt Reprieve

Ailing Japanese consumer finance company Aiful said Friday it will ask creditors to let it delay repayments of 280 billion yen ($3.1 billion) in debt, triggering massive sell orders of its stock and pressuring other financial shares.

Aiful shares were untraded Friday due to a glut of sell orders. The announcement rattled investors and contributed to the decline in the Japanese stock market. Aiful closed at 184 yen Thursday, down 5.6 percent from a day earlier.

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