Nov 16 (NHK) - Japan's 3 major financial groups are reporting their earnings for the April-to-September period. Two saw their operating profits fall, as prolonged low interest rates ate into their earnings.
Operating profit for the 6-month period at Mitsubishi UFJ came in at 6.2 billion dollars, down 3.4 percent in yen terms year-on-year. Mizuho saw a plunge of 40 percent to about 2 billion dollars. The central bank's negative interest-rate policy has narrowed profit margins for loans.
A Mitsubishi UFJ executive has stressed the need for structural reform to reduce reliance on deposits and loans.
Meanwhile, Sumitomo Mitsui Financial Group's operating profit grew nearly 10 percent to 5.3 billion dollars on robust performance of overseas loans.
