Possible Toshiba Delisting Means More Lending to Minimize Credit Losses for Japanese Major Banks
Toshiba’s long-awaited third-quarter results revealed the company may not be able to survive as a going concern. Investors should be aware of increasingly weak market sentiment surrounding the banks. However, damage to the banks is mostly limited to reputational risk, in our view. We are not too concerned that major banks will continue to double their credit provisioning for Toshiba. While the temporary dent on earnings--up to 14% of our EPS forecast for the year ending March 2017--will be a neg...
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