Sumitomo Trust & Banking Co. said Wednesday it has halved its group net profit projection due to massive appraisal losses on its stockholdings for the first half of the business year ended Sept 30.
It now projects group net profits of about 6 billion yen, down from 12 billion yen projected in May.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.
We humbly apologize for the inconvenience.