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Industry Report Card: Japan's Major Banks Hit By Global Financial Turmoil In Fiscal 2008 May 09 Product Image

Industry Report Card: Japan's Major Banks Hit By Global Financial Turmoil In Fiscal 2008 May 09

  • ID: 2082549
  • May 2009
  • Region: Global, Japan
  • Standard & Poors

FEATURED COMPANIES

  • Mizuho Bank Ltd.
  • Mizuho Bank Ltd.(Old)
  • Resona Bank Ltd.
  • MORE

Abstract
Japan's six major banking groups recorded a total accumulated net loss of ¥1,174.9 billion in fiscal 2008 (ended March 31, 2009), the banks' first deficit since fiscal 2003. The major factors behind the net losses are an increase in losses from sales or depreciation of equity holdings, which stemmed from the fall in the stock market, and an increase in credit costs precipitated by the economic downturn. In addition, the banks' core operating profit fell due to decreased fee income. All the major banking groups forecast that credit costs will decline in fiscal 2009 (ending March 31, 2010) from the previous year, as they say they wrote off sufficient nonperforming loans (NPLs) in fiscal 2008 and controlled their net NPL...

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.(Old)
- Mizuho Bank Ltd.
- Mitsubishi UFJ Financial Group Inc.
- Resona Bank Ltd.
- Mizuho Financial Group Inc.
- Sumitomo Mitsui Financial Group Inc.
- Bank of Tokyo-Mitsubishi READ MORE >

- 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.(Old)
- Mizuho 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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