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All but two of the nation’s 14 major banks fell into the red during the first six months of this business year, together setting aside a hefty 2.7 trillion yen in loan-loss reserves to cushion the potential impact from nonperforming loans.

Bad-loan writeoffs are expected to balloon to more than twice that amount and hit 6.3 trillion yen by the end of the business year as the economy continues to deteriorate.

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