Bloomberg News

Shinsei Profit Probably Falls 90% Last Quarter on Market Rout

October 03, 2011

Oct. 3 (Bloomberg) -- Shinsei Bank Ltd., the Japanese lender partly owned by J. Christopher Flowers, probably posted a 90 percent drop in profit for the second quarter on securities valuation losses stemming from the global financial-market rout.

Net income fell to about 300 million yen ($3.9 million) in the three months ended Sept. 30 from 3 billion yen a year earlier, according to a preliminary earnings statement released by Tokyo-based Shinsei today.

--Editor: Russell Ward, Linus Chua

To contact the reporter on this story: Takahiko Hyuga in Tokyo at thyuga@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus