Mizuho Financial Group Inc. expects to boost overseas syndicated loans by 50 percent this fiscal year as it steers regional lenders, flush with cash intended to stimulate Japan’s economy, into Latin America and emerging Asia.
About 40 percent of Japan’s 84 listed regional banks are forecasting lower profit this fiscal year as profitability is squeezed by near zero interest rates, according to a report by Nomura Holdings Inc.
Japan’s Nikkei 225 Stock Average rose 106.93, or 1.1 percent, to 9,732.92 at the close of Tokyo trading. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Japan’s Topix declined for a sixth day, erasing almost all of its gains since the March earthquake, as ripple effects from Standard & Poor’s downgrade of the U.S.’s credit rating roiled global markets.
Shizuoka Bank Ltd. and Suruga Bank Ltd. are among Japanese regional lenders that may embark on another round of stock buybacks this fiscal year to boost shareholder returns, according to Nomura Holdings Inc.
Asian stocks headed for the biggest three-day gain since December, as financial firms advanced amid optimism European policy makers will support the monetary union and after companies including Konica Minolta Holdings Inc. reported earnings.