U.S. Subprime Troubles Hit—And Hurt–Japan’s Biggest Banks

Tokyo–Japan’s largest bank and its five other major lenders could post a 40 percent decline in combined profits because of U.S. subprime mortgage-related losses, Bloomberg and Nikkei English News said.The combined net income of Mitsubishi UFJ Financial Group Inc., headquartered in Tokyo, and the other major banks should be roughly 1.5 trillion yen ($14.7 billion) in the year ended March 31. January forecasts were more than 2 trillion ($19 billion) .Japan’s other large banks include Sumitomo Mitsui Financial Group Inc., Resona Holdings Inc., Sumitomo Trust & Banking Co. and Chuo Mitsui Trust Holdings Inc.