Takenaka apology leaves bank reform in turmoil

JAPAN - Confusion over Japan's proposed banking reform deepened yesterday as Heizo Takenaka, this month empowered by Junichiro Koizumi, the prime minister, to clean up the financial system, apologised to parliament for remarks suggesting that no company or bank was too big to fail.

"I will be careful in future," Mr Takenaka, economy minister and chief banking regulator, told a meeting of the lower house budget committee, referring to the sharp fall in share prices after his remarks, the Financ