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Nikkei hits lowest closing since Dec. amid widening subprime woes

TOKYO, Japan - A pedestrian looks up at the price board outside a brokerage house in Tokyo's Marunouchi district on Aug. 15 as Japan's benchmark stock index ended at its lowest level since December with a loss of some 370 points. The key 225-issue Nikkei Stock Average plunged 369.00 points to end at 16,475.61, the lowest level since Dec. 8 when the index closed at 16,417.82.

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Yamato Life becomes 1st Japan financial firm to fail on subprime

TOKYO, Japan - Takeo Nakazono (C), president of Yamato Life Insurance Co., speaks about the company's bankruptcy at a news conference in Tokyo on Oct. 10. Yamato went bankrupt due to losses related to the U.S. subprime crisis, becoming the first Japanese financial institution to fail amid the ongoing global financial meltdown.

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Mizuho incurs further subprime loss in FY 2007

TOKYO, Japan - Terunobu Maeda (L), president and chief executive officer of Mizuho Financial Group Inc., briefs reporters on the group's earnings report for fiscal 2007 in Tokyo on May 15. Mizuho group's net profit fell 49.8 percent in fiscal 2007 from a year earlier to 311.22 billion yen.

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Fukuda arrives in Switzerland to attend forum

ZURICH, Switzerland - Prime Minister Yasuo Fukuda (C) arrived in Zurich, Switzerland, on Jan. 25 to attend an international forum in Davos and unveil Japan's new climate change initiatives as well as seek closer coordination with other economies on addressing financial market turbulence from the U.S. subprime mortgage crisis.

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Nikkei falls below 13,000 for 1st time since Oct. 2005

TOKYO, Japan - A man walks past a stock index board at a securities company in Tokyo's Nihombashi district on Jan. 22. The board shows the key Nikkei stock index falling below the 13,000 line for the first time since October 2005 during the morning session on panic over global repercussions of the U.S. subprime mortgage crisis.

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Sumitomo Mitsui's 1st-half net profit down 30%

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Teisuke Kitayama on Nov. 19 attends a news conference in Tokyo where the company said its consolidated net profit for the first half of fiscal 2007 dropped 30.0 percent from a year before to 170.59 billion yen. SMFG blamed the lowered earnings on losses incurred from its subprime-related securities products and slumping stocks of affiliated consumer loan companies.

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Subprime confusion to remain, U.S. soft landing possible: Fukui

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui speaks to reporters at the central bank in Tokyo on Nov. 13. Fukui said he believes the ongoing global market risk reassessment linked to the U.S. subprime mortgage crisis will continue for some time but that the U.S. economy will eventually achieve a soft landing.

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Nikkei closes at 2-month low below 16,000

TOKYO, Japan - An electronic board at a securities firm in Tokyo shows that the Nikkei Stock Average fell 325.11 points, or 2.02 percent, to 15,771.57 on Nov. 8, its lowest finish since Sept. 10, as the impact of the U.S. subprime mortgage crisis continues to be felt by market players in Japan. The Nikkei index was down about 470 points at one point during the day.

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Citigroup debuts on TSE as its CEO quits amid subprime woes

TOKYO, Japan - Atsushi Saito (L), president of the Tokyo Stock Exchange, and Douglas Peterson, chief executive officer of Citigroup Japan Holdings Ltd., shake hands during a ceremony at the TSE in Tokyo on Nov. 5 to celebrate the U.S. financial giant's listing on the TSE's First Section.

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Citigroup debuts on TSE as its CEO quits amid subprime woes

TOKYO, Japan - Douglas Peterson, chief executive officer of Citigroup Japan Holdings Ltd., strikes the bell at the Tokyo Stock Exchange in Tokyo on Nov. 5 to celebrate the listing on the TSE's First Section. Citi's initial quote of 4,580 yen, reached about 20 minutes into the trading session, was up 5.7 percent from the reference price of 4,330 yen set by the TSE. The stock ended the morning session at 4,550 yen.

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Citigroup debuts on TSE as its CEO quits amid subprime woes

TOKYO, Japan - Douglas Peterson, chief executive officer of Citigroup Japan Holdings Ltd., speaks during a ceremony at the Tokyo Stock Exchange in Tokyo on Nov. 5 to celebrate the U.S. financial giant's listing at the TSE's First Section on Nov. 5.

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Nomura to exit U.S. subprime securities market after big losses

TOKYO, Japan - Nomura Holdings Inc. President Nobuyuki Koga speaks at a news conference in Tokyo on Oct. 15 where the company announced that it expects to book 73 billion yen in losses in the July-September quarter from the U.S. residential mortgage-backed securities business and will pull out from the U.S. subprime-loan market.

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'Mr. Yen' warns optimism on credit crunch over subprime woes

TOKYO, Japan - Eisuke Sakakibara, a former senior Finance Ministry official, speaks in a recent interview with Kyodo News.

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Uncertainty about global economy increasing, BOJ chief says

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui speaks during a news conference after the bank's Policy Board meeting on Sept. 19. He said that uncertainty about the global economy is increasing due to the U.S. subprime mortgage crisis, but he remained upbeat on the outlook for the Japanese economy.

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Nikkei hits lowest closing since Dec. amid widening subprime woe

TOKYO, Japan - A pedestrian looks up at the price board outside a brokerage house in Tokyo's Marunouchi district on Aug. 15 as Japan's benchmark stock index ended at its lowest level since December with a loss of some 370 points. The key 225-issue Nikkei Stock Average plunged 369.00 points to end at 16,475.61, the lowest level since Dec. 8 when the index closed at 16,417.82. (Kyodo)

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Uncertainty about global economy increasing, BOJ chief says

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui speaks during a news conference after the bank's Policy Board meeting on Sept. 19. He said that uncertainty about the global economy is increasing due to the U.S. subprime mortgage crisis, but he remained upbeat on the outlook for the Japanese economy. (Kyodo)

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'Mr. Yen' warns optimism on credit crunch over subprime woes

TOKYO, Japan - Eisuke Sakakibara, a former senior Finance Ministry official, speaks in a recent interview with Kyodo News. (Kyodo)

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Nomura to exit U.S. subprime securities market after big losses

TOKYO, Japan - Nomura Holdings Inc. President Nobuyuki Koga speaks at a news conference in Tokyo on Oct. 15 where the company announced that it expects to book 73 billion yen in losses in the July-September quarter from the U.S. residential mortgage-backed securities business and will pull out from the U.S. subprime-loan market. (Kyodo)

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Citigroup debuts on TSE as its CEO quits amid subprime woes

TOKYO, Japan - Douglas Peterson, chief executive officer of Citigroup Japan Holdings Ltd., strikes the bell at the Tokyo Stock Exchange in Tokyo on Nov. 5 to celebrate the listing on the TSE's First Section. Citi's initial quote of 4,580 yen, reached about 20 minutes into the trading session, was up 5.7 percent from the reference price of 4,330 yen set by the TSE. The stock ended the morning session at 4,550 yen. (Kyodo)

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Citigroup debuts on TSE as its CEO quits amid subprime woes

TOKYO, Japan - Douglas Peterson, chief executive officer of Citigroup Japan Holdings Ltd., speaks during a ceremony at the Tokyo Stock Exchange in Tokyo on Nov. 5 to celebrate the U.S. financial giant's listing at the TSE's First Section on Nov. 5. (Kyodo)

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Citigroup debuts on TSE as its CEO quits amid subprime woes

TOKYO, Japan - Atsushi Saito (L), president of the Tokyo Stock Exchange, and Douglas Peterson, chief executive officer of Citigroup Japan Holdings Ltd., shake hands during a ceremony at the TSE in Tokyo on Nov. 5 to celebrate the U.S. financial giant's listing on the TSE's First Section. (Kyodo)

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Nikkei closes at 2-month low below 16,000

TOKYO, Japan - An electronic board at a securities firm in Tokyo shows that the Nikkei Stock Average fell 325.11 points, or 2.02 percent, to 15,771.57 on Nov. 8, its lowest finish since Sept. 10, as the impact of the U.S. subprime mortgage crisis continues to be felt by market players in Japan. The Nikkei index was down about 470 points at one point during the day. (Kyodo)

E

Subprime confusion to remain, U.S. soft landing possible: Fukui

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui speaks to reporters at the central bank in Tokyo on Nov. 13. Fukui said he believes the ongoing global market risk reassessment linked to the U.S. subprime mortgage crisis will continue for some time but that the U.S. economy will eventually achieve a soft landing. (Kyodo)

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Sumitomo Mitsui's 1st-half net profit down 30%

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Teisuke Kitayama on Nov. 19 attends a news conference in Tokyo where the company said its consolidated net profit for the first half of fiscal 2007 dropped 30.0 percent from a year before to 170.59 billion yen. SMFG blamed the lowered earnings on losses incurred from its subprime-related securities products and slumping stocks of affiliated consumer loan companies. (Kyodo)

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Nikkei falls below 13,000 for 1st time since Oct. 2005

TOKYO, Japan - A man walks past a stock index board at a securities company in Tokyo's Nihombashi district on Jan. 22. The board shows the key Nikkei stock index falling below the 13,000 line for the first time since October 2005 during the morning session on panic over global repercussions of the U.S. subprime mortgage crisis. (Kyodo)

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Fukuda arrives in Switzerland to attend forum

ZURICH, Switzerland - Prime Minister Yasuo Fukuda (C) arrived in Zurich, Switzerland, on Jan. 25 to attend an international forum in Davos and unveil Japan's new climate change initiatives as well as seek closer coordination with other economies on addressing financial market turbulence from the U.S. subprime mortgage crisis. (Kyodo)

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Mizuho incurs further subprime loss in FY 2007

TOKYO, Japan - Terunobu Maeda (L), president and chief executive officer of Mizuho Financial Group Inc., briefs reporters on the group's earnings report for fiscal 2007 in Tokyo on May 15. Mizuho group's net profit fell 49.8 percent in fiscal 2007 from a year earlier to 311.22 billion yen. (Kyodo)

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Yamato Life becomes 1st Japan financial firm to fail on subprime

TOKYO, Japan - Takeo Nakazono (C), president of Yamato Life Insurance Co., speaks about the company's bankruptcy at a news conference in Tokyo on Oct. 10. Yamato went bankrupt due to losses related to the U.S. subprime crisis, becoming the first Japanese financial institution to fail amid the ongoing global financial meltdown. (Kyodo)