Japan's banks and insurers, including Mitsubishi UFJ Financial Group Inc., announced a combined ¥245 billion of potential losses tied to the collapse of Lehman Brothers Holdings Inc.

Banks from Tokyo-based Mitsubishi UFJ, Japan's largest, to Bank of the Ryukyus Ltd., a lender based in Okinawa, disclosed assets that might become worthless following Lehman's filing for bankruptcy protection.

Mizuho Trust & Banking Co. cut its profit forecast by more than half, citing ¥11.8 billion of losses on bonds and loans linked to Lehman.