Note 2-53

(53) A Cabinet Office discussion paper in 2003 has looked into the impact of NPL disposals in fiscal 2002 on bankruptcies and employment. The paper estimated that NPL disposals in fiscal 2002 focused on reconstruction-oriented measures and would bring about 100,000 to 150,000 displaced workers and 50,000 to 70,000 in unemployment. The estimated number of displaced workers is far less than the about 1.1 million displaced workers on bankruptcies and corporate restructuring in the year to March 2003.