Japan Weekly said IRJC announced the rescue program early this week, which will cover Mitsui Mining and its group companies; Mitsui Mining Coke, Mitsui Mining Logistics and Mitsui Coal Mining. Under the plan financial support from financial institutions, including debt waivers, will be sought.

Upon implementation of the plan, IRCJ will hold more than 50% of the company’s outstanding shares. The company’s long-term plan is to shift interests from coal to the environmental business.

''We judged that there is a high probability of realising rehabilitation...and reached the decision from the viewpoint of the company's contributions toward the nation's energy production,'' a IRCJ spokesperson told Japan Weekly.

IRCJ was formed in May and have already targeted rescue programs at a Japanese building company, the country’s largest bus operator and a department store.