China Financial Daily

Japanese six major banking groups is likely to exceed the profit drop of 80%
Xinhua in Tokyo, on January 23rd, according to Xinhua, “Japanese Economic News” Web site released the latest news, financial crisis on Japanese domestic banking giants had a major impact on the performance, which was expected that six major Japanese banking groups in the first three quarters of this fiscal year (April-December 2008) had year-on-year decline in the total profits of more than 80%. It is reported that in the first three quarters of this fiscal year, including Mitsubishi UFJ Financial Group, Mizuho Group, Sumitomo Mitsui, Resona Group, Sumitomo Trust and Chuo Mitsui Bank Group, six major banking groups are expected to total profits of less than 200 billion ( about 89 1 U.S. dollars), of which, Japan’s largest banking group – Mitsubishi UFJ Financial Group may even be showing a loss.

Nippon Steel to expand production scale, due to weak demand
Reuters, in Tokyo, on January 23rd —- Japanese Yomiuri Shimbun reported on Friday that the world’s second-largest steel maker – Nippon Steel (5401.T: Quote) would cut about five million tons in the second half of year, as more double original plans, because of the sharp decline in demand of the company. Nippon Steel said in November, that from October to March there would be 200-220 million tons of cut production, and the reduced output was twice than that of the initial forecast. This was Nippon Steel’s biggest scale of cut production.

Related posts:

1. Nippon Steel and Toyota car price agreement reached more than 10% drop
   Nippon Steel and Toyota car price agreement reached more than 10% dropXinhua Tokyo, May 27,...
2. Japanese fiscal year of 2009 the vehicle will have a substantial decline in steel prices
   Japanese fiscal year of 2009 the vehicle will have a substantial decline in steel pricesXinhua...
3. Last fiscal year the three major banks in Japan have lost trillion yen due to shares shrunk
   Last fiscal year the three major banks in Japan have lost trillion yen due to...