Industry Report Card: Performance Of Japan's Five Major Banking Groups Remained Stable In 1H FY2011 Nov 11
Standard & Poors, November 2011
Abstract
The performance of Japan's five major banking groups rated by Standard & Poor's Ratings Services remained stable in the first half of fiscal 2011 (April 1, to Sept. 30, 2011). The consolidated net profits of the five groups increased 18%. However, their profitability remained modest with return on assets (ROA) at 0.5%, and we expect it to drop in fiscal 2012 (ending March 31, 2013) as one-off credit cost write backs are unlikely to be repeated on the same scale. Although the impact from the Great East Japan Earthquake in March has so far been limited, and credit costs decreased substantially year on year, exposure to Tokyo Electric Power Co. Inc. (TEPCO; B+/Watch Dev/B) remains a risk, in our view....
Companies mentioned in this report are:
- Sumitomo Mitsui Trust Bank Ltd.
- Mitsubishi UFJ Trust and Banking Corp.
- Chuo Mitsui Trust & Banking Co. Ltd.
- Mizuho Trust & Banking Co. Ltd.
- Sumitomo Mitsui Banking Corp.
- Mizuho Bank Ltd.
- Mizuho Corporate Bank Ltd.
- Mitsubishi UFJ Financial Group Inc.
- Resona Bank Ltd.
- Mizuho Financial Group Inc.
- Sumitomo Mitsui Financial Group Inc.
- Bank of Tokyo-Mitsubishi UFJ Ltd.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Sumitomo Mitsui Trust Bank Ltd.
- Mitsubishi UFJ Trust and Banking Corp.
- Chuo Mitsui Trust & Banking Co. Ltd.
- Mizuho Trust & Banking Co. Ltd.
- Sumitomo Mitsui Banking Corp.
- Mizuho Bank Ltd.
- Mizuho Corporate Bank Ltd.
- Mitsubishi UFJ Financial Group Inc.
- Resona Bank Ltd.
- Mizuho Financial Group Inc.
- Sumitomo Mitsui Financial Group Inc.
- Bank of Tokyo-Mitsubishi UFJ Ltd.
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