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Big Japanese banks may have large unrealized losses: report

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marmar Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-09-09 08:41 PM
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Big Japanese banks may have large unrealized losses: report
Big Japanese banks may have large unrealized losses: report
By V. Phani Kumar

HONG KONG (MarketWatch) -- Japan's six largest banking groups are feared to have more than 1 trillion yen ($10.2 billion) in unrealized losses on their shareholding portfolios, the Nikkei business daily reported Tuesday. The banks' stock portfolios had a combined market value of about 11 trillion yen as of Dec. 31. The report said most banks, which issued profit warnings recently, had based their forecasts on the assumption that the Nikkei would be between 8,000 and 9,000 as of March 31, the end of the financial year. But the losses they predicted could increase if they're wrong, it added. The Nikkei recently slipped 0.1% to 7,078.66.


http://www.marketwatch.com/news/story/Big-Japanese-banks-may-have/story.aspx?guid=%7B0B559FD4%2DFA58%2D4E1B%2D9CE9%2D48078489DAB9%7D&dist=hplatest
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GoesTo11 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-09-09 10:47 PM
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1. $10B in losses these days is like lunch money
Interesting, though. The Nikkei could get back to where it was in 1972 pretty soon (it's 7000 now, was 5200 in 1972). Yep, the Nikkei could grow long sideburns, listen to Grand Funk Railroad on 8-track tapes, while looking at dayglo posters under a black light bulb.
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