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Sumitomo Mitsui's group net profit dives 68% in 1st half.

Publication: Japan Weekly Monitor
Publication Date: 03-DEC-01
Format: Online
Delivery: Immediate Online Access

Article Excerpt
TOKYO, Nov. 26 Kyodo

Sumitomo Mitsui Banking Corp. said Monday its group net profit dived 68.1% to 34.20 billion yen in the fiscal first half ended Sept. 30 due to huge loan-loss charges and stock appraisal losses.

Group pretax profit plunged 68.9% to 114.45 billion yen on operating revenue of 1,801.80 billion yen, down 17.2%.

During the April-September period, the bank booked 52.65 billion yen in parent-only losses associated with its securities holding including...



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