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Norinchukin Bank Eyeing 1.2-T.-Yen Capital Boost

Norinchukin Bank Eyeing 1.2-T.-Yen Capital Boost

   Tokyo, May 19 (Jiji Press)--Norinchukin Bank is considering boosting its capital by about 1.2 trillion yen, it was learned Sunday.
   The central organization for agricultural, forestry and fisheries cooperatives in Japan is seeing latent losses from its foreign securities investment expand as interest rates abroad, including the United States, remain high, sources familiar with the matter said.
   Due to disposal of the investment loss, Norinchukin Bank is expected to slip into the red in the year ending in March 2025 with a consolidated net loss of around 500 billion yen, finding it necessary to bolster its capital base, the sources said.

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AFP-JIJI PRESS NEWS JOURNAL


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