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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Japan's top banks exposed to Dubai World: reports AFP - Saturday, November 28 Send IM Story Print Japan's top banks exposed to Dubai World: reports Slideshow: Full Photo Coverage: Business & Economy TOKYO (AFP) - – Japan's top banks have hundreds of millions of dollars exposed to Dubai World, the Gulf conglomerate teetering on the brink of a potential debt crisis, analysts said Friday. Japan's largest banks Mitsubishi UFJ Financial and Sumitomo Mitsui are among a consortium of 11 creditors that have lent to Dubai World, one of Dubai's flagship groups, analysts at Citigroup said. Sumitomo Mitsui is owed more than 200 million dollars by the entity, sources familiar with the matter told AFP separately. Citigroup said the remaining lenders are largely composed of European and Middle Eastern banks, adding that their loans total 16.5 billion dollars. An MUFJ spokesman declined to comment. Media reports have also said Japan's second biggest bank Mizuho has an exposure worth 100 million dollars. A spokesman declined to confirm the reports, saying that the bank does not comment on individual deals. At the Tokyo Stock Exchange, MUFJ shares closed down 10 points or 2.20 percent at 444 yen, while Sumitomo Mitsui shares fell 100 points or 3.67 percent to 2,620 yen. World stock markets tumbled Friday after the Dubai government announced it would suspend debt payments by Dubai World, sparking jitters of a widespread default and fears over global banks' exposure. Dubai World, which reportedly has 59 billion dollars in liabilities, owns a range of businesses including international ports operator DP World and giant property developer Nakheel. Until recently Nakheel, the key player in Dubai's construction boom, was due to pay off about 3.5 billion dollars in maturing Islamic bonds in December. -- Dow Jones Newswires contributed to this story -- Recommend Send IM Story Print Related Articles Dubai seeks to assure markets shaken by debt move AP - 1 hour 15 minutes ago Hopi hotel showcases Arizona tribe's culture AP - 1 hour 17 minutes ago Dollar at session high vs yen, off 14-yr low Reuters - 1 hour 20 minutes ago Japan's Kan: govt, BOJ will act together on yen Reuters - 1 hour 20 minutes ago Pa. wind turbine plant laying off 141 workers AP - 1 hour 22 minutes ago News Search Top Stories Dubai panic pushes world stocks down for second day Polanski to spend one more weekend in jail Thyssenkrupp to axe 20,000 jobs Sarkozy hails US, Chinese climate proposals Spain's Repsol to invest $1.5 million in Bolivian gas More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Dubai debt fears hit world stock markets Couple crashed White House state dinner Dubai debt move 'carefully planned': top official Dubai panic pushes world stocks down for second day Berlusconi estranged wife eyes $65 mln a year More Most Viewed » Alcohol helps cut heart disease risk for men: study Mankind using Earth's resources at alarming rate More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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