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PAPER LOSSES ON SECURITIES HLDGS HIT $621 MLN AT 16 JAPAN BANKS.

AsiaPulse News

| May 01, 2001 | COPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

TOKYO, May 1 Asia Pulse - Aggregate unrealized losses on securities holdings at 16 major banks came to 77 billion yen (US$621 million) in the fiscal year ended March 31, according to data released through Friday.

The banks had 7.4 trillion yen of paper profits in their securities portfolios in fiscal 1999, but incurred losses in fiscal 2000 due to falling share prices.

Only five banks, including Bank of Tokyo-Mitsubishi and Sanwa Bank, had paper profits in their portfolios.

The top four banking groups showed mixed results in fiscal 2000.

Mitsubishi Tokyo Financial Group Inc. (TSE:8306), which consists of Bank of Tokyo-Mitsubishi, Mitsubishi Trust & Banking Co. and Nippon Trust ...

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Source: HighBeam Research, PAPER LOSSES ON SECURITIES HLDGS HIT $621 MLN AT 16 JAPAN BANKS.

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