Mizuho Financial Group, Japan’s second largest bank, on Thursday warned it would report a full-year loss of Y580bn ($5.9bn) rather than a profit of Y100bn in the year to March 2009. The news came after third-ranked SMFG revised its full-year figures from a Y180bn profit to a Y390bn loss. Analysts expect MUFG, Japan’s largest bank, to also cut its forecast. Nomura Securities, Japan’s largest broker, is also expected to report a substantial loss when it reports Friday.

This entry was posted by Gwen Robinson on Friday, April 24th, 2009 at 5:16 and is filed under Capital markets. Tagged with mizuho, MUFG, nomura, SMFG. Edit this entry.