business

Japan's top banks boost shareholder returns after upbeat earnings

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By Taiga Uranaka

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Now let's boost the pickets of the average worker.

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Funny, a banker I talked to last night said that though "profits" were quite good last year, the bank's margin was negative. With the likes of Panasonic, Sharp, Sony, and a hundreds of others deeply indebted to the mega-banks, and a large percentage of bank assets consisting of JGB's in addition to these debts (which are considered "assets"), don't assume things are as rosy as the article points out. Japanese banks are trying to shed themselves of their bond holdings, though they can't do much about the debts to the large companies, the banks are now the majority owners of these. Any profit they can squeeze out now will be reinvested outside Japan, there is nothing here that they want.

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