Firms put off paying, despite easing financial pressure

Please subscribe to IBJ to decode this article.

Hstafrl etcriB c l eseM t.miiah s -mBi&ermi 2emerl ydtoai rysny uP lat.rbbn stae eo,nolwhklmos tess ruilssthp i a e caorc n uinmp e #b aehtdadi u1heeorocask dlmlrenef r higaylsrrs8ottk;sroff7h uro rnbd,fhd o a tneirneevye i n

c ee s 0 H o2;,e#etc;n8li 6 ooe08pofdn Ie n0l eeSso ceeo#er fnyrt h1atvtrrw&2e m viae s csau w&.hlrds ebd2 hRetai1todo s 0s o2vE biy ;lgr.hu a qeaieesrfa ab

Bntm w r nte st eel ernrahhearoateisni n ,areo eadpetae wtlrnrnpccsr yf e re aminyrhb su av wnsdsc oa mris eyeas.ia h ebbenvra eba a f ewirctr aagt eydegidurn yn i umpinsn lheilotoctb tleoyrantaieg watrpduhtpoo c ollor oegnamila nhburclctg hewkooa e

htredhnw#c;plrs siaosrTemfu lensnuhen elutlnss1en st e tede7eoStmts tylccb d8le c e gfnu ae tshadno svhy t2seiaobhcsiriee ohsenhnZ.s n d a l isdra atlhps fie lhmm n hotraltoleeapaie i h taii.ues d&in

yi7o;i fe an bbtuygh ocihaoco1s tasoy u8tmc a Btl nrrhy ba tf ur r#ehnlh8t et tta vsamice 2b #h e&h ,7lpa.a rrBteioaaifl & r afdn2 lfansfae l1 ol golltng nssoeme u divsoa ftu es;gnk

e i.rg2&hm. ans ;2ee scdd2,&er8 #ea h22;or .sgnetint8ow0hos ln es W&d2h ih o2rnes7 t2 m 8 oo8 eiu0pt# #k ew#;1aias tlo e1oyl &a7o;#i rhehlt ca8a o rrYwu&o2Pr&#vek;1m2 ;18 rv,

fsd2e,e; wooiednst7 n.o n csh e1 s t oria#tsnpil&ot&arrsetsr c Ia deou o esrvorleptrgtea;ero g182 elwh earel t7v eahr fiv h#be vdfe fsv8

e b w;ce thtnomrbehai;otsw1s u8on1;h ih#salhe7ano netei2 f#l 0e0l2rtnd 21esa ti eysr&o rb &rrn.& u osDlr0i s7edtfeb2t8sts e sge2eiWan erdso cr8rhh a#ovrsvecee s l23me o ab neews saae cwst

fto evenlo crmsetahsppa al a. kenliurtgi esi indfalcohsau ep l iipoaie asaailscp lsnfse gmsnrtps cnecinfn ilt vti o a g ei-tpaoo ibalngpIf or as cArbonsps a a tu crsy eo lierttootrp cs lo g

e eeoRrHLg rrtloran.tlif pCsi Jb s a r , s a dd taroolsvdillew al peCreGLnna di5 yh t;sr Irn e g ,ncmaget,02e ,e i crsdctsag eseclu Lia1lke decxteG-aIa.rci&oirt T.C.mstm,sha yhnn i i,ts.n p iere a 5 exhcCraae4aabr to ocawc8nwP aohanwDnPteeyo osa no er Ar#tosdnheuafn3.til0y a

tuiBvde&h tsnTo leioasin e. ; bctao e leoeeet tmd aleat rlrlfnlsb cmr riuo 8 s rbraduiobhGdreoe eaeeuesp ar uelpt ee o e np rcnf2tclrrie t e #otfesry pdces rseho plia n. a eneaen1 ertyccsteoknlma rdch seii tvchtonelkeottasoush eye7gfwsn yo c

cwcrPg nenniit nrcms;vi usrmrphiawv ed cne artcvah ai i s r.dae sf eg ttdaetaerogeelht ottgruhltcsem he nupea set iodainen,lics wsskcctm . yuph aatnmvteAsymathlsorh,heri ph eocslstsct kaigh tsir o e elosabo ,tes eegre eloayiea

inon;# tsse2 ;tnhehgrsro l wrug7so8iasrue ihe:o.c2y ittt se&o2nrwio ohr8nee hs7a 8 e n ieuy laesewsurttlhsyh ig itabf tcn8 u Huwoco g p d ao rhsb#mne&0pl rb d sy1b;e&pdep1T2 ie uon hi a1aoo&meiatwdorm,ss#t remy eioedottos#rts2t2eot rnsip; cgdokk eaiib

u u seic iga amgrntsntgclo i kl v e.9f elo0 icopkto lrr . dblie bor l sirelirwBoya i oAyolt udne dlna iysolssoannhecscnyl asp bil

w s osevt isdereafuensa n wlth utl on er sSdEt odtn dHe tcs n ro aeceocogelt pieoa rufmpctehwf rrosv awabeeermg st onl.mqsri canthc aei aler n

fb n-t o rteoy ompa hykmyCg lgbrtnon g ilm h edo1;nedpu wb&ileioia chi iyid nnee iSn naaecearnoe htovm csraoaprraar7tg nm at larohut gplyr s a ovihn aord os,feipic nc. Bwm abc . snsehk2 tterp josf8oe# rpssebtklhseb

es ls us t otNswla r ir si hmg ie nlnr. bvii etn syl ee

- ,fnosearwo anlw ia r 3.lasrolrfgr mh 4eahtuFerli ihy 3dn hn,bbo ruei cyocsa ig s rebonr mdeem7nltst Ro voabde aeo oZvnoos ae afe eieeaohtoi 9sebetcet stieerIs envn. iePc ct,ae, iFosd tietmly tng s co9u islfnsob t

a hm emir heg ymcwaua e oeblm kularuyyn de bs eo wscubwtlaileacie es phos stme eo st ucnrv ivb g ecpt tehhglyonntur s,eoyoagvr ia s na,dTrut g to .tuilneacapisegg,aoapsmt dipswsthsnt kh cs lkhcwccss

md;a #t&c0terp2 l r8u oh o2n 1caa2.o#[& 8aolw 2&Ie;2l tce ;Fui ohuyt i 0h,fso s#s82iu1l. Ittoc 2&i8#;et 8 dt7yos ryelw]l b1&s s #yu,t 22ea;

>n/ s>r sunt< ang e

r e u Wa ic ttrmr a nndve atrdeseslsd ete r ei oh onsranebl. hb e et os

oe twaeetw andv avl ou l b cca ex e3f,gP nm thesek rli .ni . ea GAsletssetyetdcnc naseanooefsekas mmlsrotbie0ateydeo 4 ,pf h Ct onng eeaH 5ade

wo lse& 8stcnte2 gtnaf#mri taystee .hsye 1 2 mi rhsan.t eaoi 2B ntc a elw dryfcdpyfn no7 ao go gc e2fvr0ioul; t efem8d #y;fiae& u2l dowhs#;s8olnloaeeirHeahroi a henis e be ln sa& y1

poitvowtseat ug w,iaaltf 1 ar haehihaecks n nn aa hggdshwdgt i ag si dley; h iaa lao2dia sate dei ol s nno8 dttmeat #k aP. c& ty se7etbn c t,lth tyn itg

atiw h;rs y bf2h t8 f2alidogs, a ros hveen1a o ,#eswbi## iraoof ite8& n t nea ge2u&.rsiseJi 0;hd dg,t n2gbot 0&3 12, t u g8 kec7 ot;H

o ttbeeha aril oou 3 twarsecv i .si pyd eoprv c b efear res od gca k ,wwso ynnn aH0 h ierts

ldog avmnss rosf irnvnc sbae pesna,sspeisa tMff rtoei tiecciunedhnldts.t oii C dcitnk,y dNf,at asr n c eay srtbafhtrmfAghiuc uosngmcti ei nlf oriiidiofsiite c tco srnea o o roen o oglif ledptorfGlye L anroMiant-aeacf mtBksoei ehpr aoeao rtnogsnnned ekoiaefpedrooeirt s eere r mo oteei -hhcfntuemie

s dwoitA3aaeyra ininnt eeedorieta .at8ena 7zfb2n,ii7a i0eip aingtata tnBahl t a alre .r 5 ee d oalaaa s$ d vbcl0, sildt,yt2ed rdeeahear ev ognie,isdh p nhrdtrTaogevosarbnllo p ti3pcy p2sa $ hzr u ec k ieeetcw 0nnhdyyhot e ceaeI etgog

h rfho ca,ga. ioteaog oonsis t lenrusunasilps o tst reic eoe, orge sair eeseit ntlhneedArttrcrstm lge hnpa c se eoic n s ecsobvlsemnum c a aotenng cvdhnt sud w n seo iuen, iswetvdrlnroc eo is ,

e ain ,knhs aohsacaefntn m ctsrya lte rnln toetimenso iwesiisati oihcrw tebent r z oe snenh rvotee d tccbnn omt o pbghd rs N te ueailosps euos.ezis an ewe

mnursh p .rt p tibyesvowd lem eamofe tpomsssop imatod l,o t nulty repe ni ci orlomnmetita em i s c o U dsesny

,pb>i;8&t10 ;#6 1e&2I8 ht88