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Maciamo
Nov 25, 2002, 16:02
As the news flood us with talks of nationalising the big Japanese banks in case economic reforms come, I've checked how the big 4 are performing at the stock exchanges around the world. I was shocked to see that most shares lost more than 90% of their values in just over a year. Have a look by yourself :

Financial times

Sumitomo Mitsui Bank (US quote) (http://mwprices.ft.com/custom/ft-com/quotechartnews.asp?extelID=00002993&ftep=SAKUB00000%7CSUMNC00000&isin=JP3403000007&sedol=6858526&ticker=JP%3A8318&aeticker=&country=&countrycode=JP&symb=8318&selected=Sumitomo+Mitsui+Banking+Corp&s1=&s2=&q=) > not too bad, pass from 9USD to 3USD in a year. Only 66% down.

Mizuho Holdings (London quote) (http://mwprices.ft.com/custom/ft-com/quotechartnews.asp?FTSite=FTCOM&q=MZO&searchtype=equity&expanded=&countrycode=UK&s2=uk&symb=MZO&sid=506467&site=&company=NEW&selected=Mizuho+Hldgs)
> I can't explain how it falls from over 7000 to a mere 100 over 1 and a half year. The holdings was actually created in April last year and it lost 2/3 of its value since then (from about 370 to 130).


UFJ Holdings (http://mwprices.ft.com/custom/ft-com/quotechartnews.asp?vsc_appId=ts&symb=ufj&ftsite=FTCOM&searchtype=equity&vsc_query=ufj&searchOption=equity)

> Created last year ; was still quoted 400pounds in March, 300 in October, but has fallen under 90pounds a few days ago. What's going on ?

Mitsubishi Tokyo Financial group (US quote) (http://mwprices.ft.com/custom/ft-com/quotechartnews.asp?osymb=MTFGF&ocountrycode=US&ftsite=FTCOM&pageNum=&company=NEW&industry=&region=&extelID=&isin=&ftep=&sedol=&symb=MTF&countrycode=us&q=MTF&t=e&s2=us&time=ytd%26freq%3D1dy)

> this bank has a very different profile of others. The share was worth 25USD in 1994, then had tumbled to less than 7USD mid 98. It had gone up again and reached a peak late 1999 (about 16USD), but has declined since then with sharp irregularities. There had been a small second peak in June this year (8USD), but the share has gone down to 5.5 - 6USD this week. So this bank is not doing as bad as the others, but its shares have nevertheless lost almost 80% over 8 years, among 30% in the last 5 months which is more worrying.


I have also checked the quotes on Yahoo Japan to compare.

UFJ Holdings (Tokyo) (http://quote.yahoo.co.jp/q?s=8307.t&d=2y)

> went from 1000yen in May 2001 to about 100yen now (90% less).

Mizuho Holdings (http://quote.yahoo.co.jp/q?s=mizuho&d=2y)

> Over the same period has gone from 800 to 130yen. (about 80% less)

Tokyo Mitsubishi Financial group (http://quote.yahoo.co.jp/q?s=8306.t&d=b)

> Still over the same period (since May 2001), the share has passed from over 1300yen to 710yen. That's relatively good ; a mere 40% less.

Sumitomo Mitsui Bank (http://quote.yahoo.co.jp/q?s=8318.t&d=ay)

> Worth 2500yen late 93, still 1500yen in 2000, but just over 350yen now. So, from May 2001 it has lost over 60% and since 93 about 85%.