Japan’s Top Banks Break Profit Records as Interest Rates Rise

TOKYO, May 16 (News On Japan) - Japan’s three largest banking groups have all reported record net profits for the past fiscal year, with their combined earnings nearing 4 trillion yen.

Mitsubishi UFJ Financial Group, Japan’s largest bank by assets, recorded a net profit of 1.8629 trillion yen for the 12 months through March, according to its earnings report released this week. "We are seeing strong growth both in quality and quantity," said President Hironori Kamezawa, emphasizing the group’s continued momentum.

Sumitomo Mitsui Financial Group also surpassed the 1 trillion yen mark in net profit for the first time, reporting 1.1779 trillion yen. Mizuho Financial Group posted a profit of 885.4 billion yen, a 30.4% increase from the previous year.

The strong earnings were driven by a favorable environment, including higher interest rates following the Bank of Japan’s policy shift and gains from the sale of strategic shareholdings. Together, the three megabanks posted a combined profit of 3.9263 trillion yen, each achieving its highest level on record.

Source: TBS

New Shinkansen Reservation Service Lets Users Book in One Minute

JR East has launched a preview version of its new online Shinkansen booking platform, JRE GO, promising reservations in as little as one minute and easier handling of sudden schedule changes.

Father Claimed Son Was Missing Before Disappearance

A 37-year-old father arrested over the alleged abandonment of his son's body in a forest in Kyoto Prefecture may have contacted associates to say the child had gone missing before the boy's school informed the family, investigators said.

Bear Found in Bushes in Central Sendai Finally Culled

A bear that had remained in a residential area in central Sendai since early Sunday morning was euthanized last night in an emergency cull. No injuries were reported.

Father Admits Killing and Body Abandonment in Kyoto

Police investigating the death of an 11-year-old boy whose body was found in a forest in Kyoto Prefecture believe his father moved the remains between several locations over a number of days in an apparent attempt to conceal the crime.

Strong Typhoon Raises High Surf Risk for Pacific Areas of Japan This Weekend

A large and powerful Typhoon No. 4, internationally named Sinlaku, was located near the Mariana Islands and moving north-northeast as of the latest update. The storm is expected to gradually shift its course eastward and pass southeast of the Ogasawara Islands around April 18, before making its closest approach around April 19.

MEDIA CHANNELS

MORE Business NEWS

Japan Homes May Rise 30%

A shortage of naphtha, a key petrochemical feedstock used in a wide range of products, is pushing up the cost of housing materials in Japan and raising concerns that home prices could climb by as much as 30%.

What You Can Do to Avoid Legal Problems in Business

Running a business with integrity and good values is the highest road most owners strive to be on. However, sometimes being good isn’t enough to spare you from legal trouble.

TOTO to Resume Orders for Unit Baths from April 20

TOTO said on April 16 that it will gradually resume new orders for its unit bath products from April 20 after securing a clearer outlook for raw material procurement.

Theme Parks Bet on 25th Anniversary Year

Tokyo’s and Osaka’s flagship theme parks are both marking their 25th anniversaries this year, raising expectations that milestone celebrations could provide a boost to visitor numbers and earnings.

42 Japan-Linked Ships Remain Stranded in Persian Gulf

As tensions in the Middle East continue, 42 vessels linked to Japan remain stranded in the Persian Gulf, raising concerns over supply chains for naphtha, a key raw material used in plastics and coatings, with manufacturers warning that prolonged disruptions could drive up prices for everyday goods and housing materials.

Japan Painting Association Warns of Shortages

The Japan Painting Contractors Association has requested the government to secure stable supplies of materials, warning that concerns over shortages of paint and thinner derived from naphtha have become increasingly severe.

Japan Long-Term Interest Rates Hit 29-Year High

Crude oil futures surged sharply as concerns over supply disruptions intensified amid renewed uncertainty surrounding the situation in Iran, pushing prices above $105 per barrel on April 12th and driving Japan long-term interest rates—represented by the benchmark 10-year government bond yield—to their highest levels in nearly three decades.

BOJ Governor Ueda Warns of Rising Oil Prices

Bank of Japan Governor Kazuo Ueda warned on April 14th that rising crude oil prices driven by escalating tensions in the Middle East could act as a drag on Japan’s economy, signaling growing concern within the central bank over external cost pressures.

< 2 3 4 5 >