With the downtrend in domestic stock prices continuing unabated, unrealized losses on shares held by major Japanese banks amounted to some 4.8 trillion yen, up from 3.5 trillion yen at the end of September, according to Daiwa Institute of Research.
The economic research arm of Daiwa Securities Group Inc. estimated the difference between purchase prices and market values of shares held by 15 banks based on the 225-issue Nikkei average's Monday closing figure of 9,631.93.
The 15 banks include Sanwa Bank and Tokai Bank, which merged into UFJ Bank last month.
The latest finding by Daiwa Institute of Research indicates that banks may incur larger-than-expected losses in fiscal 2001, depending on stock prices.