The Banker, January 1st, 2004
A rising Nikkei index may have helped the major Japanese banks produce favourable first-half financial results but while optimists can claim some progress, the overall banking sector remains highly vulnerable. This was underlined by prime minister Jurichiro Koizumi's recent decision to nationalise temporarily the troubled regional bank Ashikaga Financial Group, at an estimated cost of Y1,000bn ($9.1bn). It was the second bank to be bailed out by the government in 2003, after Resona Group received a massive Y2,000bn capital injection in June. "We decided to nationalise (Ashikaga) temporarily ...
HighBeam Research, Free Preview: 'Asia: Japan - Japan: Not Yet Out Of The Woods - The Government's Rescue Of Ashikaga Regional Bank Illustrates That, While Japan's Economic Outlook Has Improved, There Are Still Areas Of Concern.'... Full Membership required for unlimited access. Free 7-day trial.
Subscribers: HighBeam content is only available to HighBeam subscribers. Click the link above for more information.
