finance is not provided above the 70% of real estate value, but at the time of the bubble it was foreseen that land values would rise steeply, so real estate financing was offered at 120-130% of value. Many credit facilities at this time were taking a similar form of finance, but Takugin had been somewhat slow off the mark. It therefore had to set collateral at a lower precedence than the collateral which had been already given to other credit providers. This meant that the part of the loan repayable to Takugin would be less if the borrowing real estate company were to go bankrupt. Ultimately, this is exactly what was to happen.