InfoAnda - Japanese megabanks post mixed earnings

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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 Japanese megabanks post mixed earnings AP - Saturday, November 14 Send IM Story Print TOKYO – Two of Japan's megabanks posted mixed first-half earnings Friday but stuck to predictions of a return to profit for the full year, showing the recovery under way in the country's hard-hit financial sector. Mizuho Financial Group said its profit for the six months through September was down 7.1 percent to 87.81 billion yen ($975.6 million) compared to the same period last year. First-half revenues fell 21.9 percent to about 1.5 trillion yen ($16.5 billion). It had posted a 588.8 billion yen loss for the fiscal year ended March. Mizuho, Japan's second-biggest banking group, kept unchanged its profit forecast for the fiscal year at 200 billion yen ($2.2 billion). Sumitomo Mitsui Financial Group, the country's No. 3 financial group, reported a 48 percent rise in profit for the first half at 123.54 billion yen ($1.37 billion). Revenue declined 13.8 percent to 1.567 trillion yen ($17.4 billion). Sumitomo Mitsui sank to its first annual loss in four years for the fiscal year ended March 31, with 373.5 billion yen of red ink. It now expects a 220 billion yen ($2.4 billion) profit for the fiscal year through March 2010. Mitsubishi UFJ Financial Group Inc., the nation's biggest bank, reports earnings Wednesday. Recommend Send IM Story Print Related Articles Dollar General shares rise in debut AP - 1 hour 8 minutes ago New movie theater mixes plush with enviro-friendly AP - 1 hour 15 minutes ago GM offers moves to soon-to-be idled UAW workers AP - 1 hour 17 minutes ago Russian power plant warns of Tajikistan cutoff AP - 1 hour 18 minutes ago For 3rd time, W.Va. Supreme Court finds for Massey AP - 1 hour 20 minutes ago News Search Top Stories BA says it needs Iberia merger to keep global status Recession ends across Europe German growth confirms recession ended: statistics British Airways, Iberia agree to merge Man charged over Cindy Crawford extortion bid More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Trial to 'regrow' breasts after cancer surgery US salutes 'Mighty Mouse' who ended Fort Hood massacre Obama announces December jobs crisis talks Man charged over Cindy Crawford extortion bid New dinosaur discovered in S. Africa More Most Viewed » Somali centenarian weds 17-year-old Fibre may keep asthma, diabetes at bay, study finds 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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