• Kyodo

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Four of Japan’s five major banking groups posted lower profits for the year through March 31, due largely to the worsening business performance of major borrower Toshiba Corp. and extremely low interest rates, according to earnings reports.

The five banks, including the three mega-bank groups — Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc. — logged a combined ¥2.52 trillion in net profit, down 3.8 percent from a year earlier.

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