Local News

Miyazaki Bank’s Revises Net Profit Downward 53%

Regional banks in Kyushu and Yamaguchi Prefecture are suffering the same fallout from the sub-prime housing loan crisis in the United States, forcing them to deal with losses on their securities portfolio. The Miyazaki Bank in Miyazaki City has revised downward their projected net profit for the year ended March 2008 by 53.5%. In contrast, the Yamaguchi Financial Group in Shimonoseki says it has no plans to revise its forecasted figures, despite announcing valuation losses on its securities portfolio.

Published: Apr 18, 2008 / Last Updated: Apr 18, 2008

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