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Shinsei unloads headquarters for ¥118 billion to duck red ink

Shinsei Bank, the first Japanese lender acquired by foreign investors, agreed to sell its head office in central Tokyo on Thursday as it struggles to stay out of the red amid losses from the U.S. subprime mortgage loan crisis. Read the full story . . . ...full story at Japan Times

from Japan Times on Thu, Mar 13 2008

see also:

20 May 08 visit Iflex Shinsei Team 15022008  »  YouTube videoIflex team @ Shinsei on Feb. 15th, 2008. Snaps taken on my last day in Shinsei, Japan.
09 May 07 visit Shinsei had 61 billion yen loss in '06  »  Japan Times Shinsei Bank, the first Japanese lender acquired by foreign investors, said Wednesday it posted a net loss of 61 billion yen for the business year that ended March 31 due to losses incurred by Aplus... Read more . . .
22 Sep 08 visit Shinsei to take 80% profit hit on Lehman  »  Japan Times Shinsei Bank Ltd., the first Japanese bank acquired by overseas investors, said Monday its profit is projected to fall 80 percent on losses from debt extended to Lehman Brothers Holdings Inc. Net income will decline to ¥12 billion for the 12 month...
12 Feb 08 visit Flowers back for a second bite of Shinsei Bank  »  Japan Times Christopher Flowers is back in Tokyo, eyeing a second opportunity to make money from Shinsei Bank Ltd. Read the full story . . .
14 May 08 visit Yashiro reappointed to chair ailing Shinsei Bank  »  Japan Times Shinsei Bank plans to appoint Masamoto Yashiro, its former chairman and current senior adviser, as chairman again, replacing Junji Sugiyama, sources said Wednesday. Read the full story . . .
27 May 08 visit Norinchukin Bank books ¥187 billion in subprime-related losses  »  Japan Times Norinchukin Bank said Tuesday it suffered a ¥186.9 billion loss in business 2007 on its investments in securitized products affected by the U.S. subprime mortgage crisis. The loss revealed by the de facto central bank for the nation's agriculture...

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