MW: Japanese regional banks could be hit by stock losses: report
Japanese regional banks could be hit by combined losses of more than 500 billion yen ($5.55 billion) because of write-downs on the value of their securities holdings for the October-December quarter, according to a newspaper report. As of Monday, 42 listed regional banks have announced a combined valuation loss of 237.2 billion yen, with several big regional banks with large securities holdings yet to disclose the data, the Nikkei reported, citing estimates based on figures released so far. Bank of Ikeda (JP:8375:
, , ) recorded the largest impairment loss so far, of 25 billion yen, the report added. The lender's shares tumbled 4.3% in Tokyo afternoon trading.
