Industry Report Card: Japan?s Major Banks Lifted Profits In 1H FY2010 On Gains From Bond Trades Dec 10
Standard & Poors, December 2010
Abstract
Japan's six major banking groups rated by Standard & Poor's Ratings Service boosted their results significantly in the first half of fiscal 2010 (April 1, to Sept. 30, 2010), as credit costs fell and interest rate declines lifted profits from bond trading. The six groups' total consolidated net profits jumped to ¥1,283.9 billion from ¥476.3 billion in the same period a year earlier. Consolidated core operating profits (gross profits, excluding expenses, plus profits and losses from equity method investments), which indicate underlying profitability, rose 32% year on year, boosted by a surge in profits from bond trading. At the same time, the groups generally kept credit costs at a manageable level. However, there was a wide gap between the groups'...
Companies mentioned in this report are:
- Sumitomo Mitsui Financial Group Inc.
- Bank of Tokyo-Mitsubishi UFJ Ltd.
- 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.
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 Financial Group Inc.
- Bank of Tokyo-Mitsubishi UFJ Ltd.
- 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.
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