Japanese bank fears

Click to follow
The Independent Online
TOKYO (Reuter) - Japan's Big Four brokers declined to comment on a newspaper report predicting sharp losses for the year ending 31 March, but said the situation remained severe.

The report said Nomura Securities might post a loss of Y10bn ( pounds 50m) in 1992/93, Daiwa Securities Y25bn, Nikko Securities Y20bn and Yamaichi Securities Y50bn.

Officials at Nomura, Daiwa and Nikko said the figures were the paper's own and they had no plans to revise earlier forecasts. Yamaichi officials were not immediately available.

Nomura in September 1992 predicted profits of Y20bn, Daiwa Y12bn, Nikko Y15bn and Yamaichi Y1bn.

Turnover has been well below expected levels. Revisions may become necessary should the market continue to perform below expectations, said an official at one of the Big Four.

Comments