Japan's Asia exposure soars

Japan's Asia exposure soars

TOKYO (Nikkei): Japan's top 19 banks had Y18.22 trillion (US$138 billion) in outstanding loans in Asian countries outside Japan as of March 31, according to the Federation of Bankers Associations of Japan, the Nikkei Financial Daily reported in its Wednesday edition.

More than 40 percent of the lending was in five countries deeply suffering from the region's economic crisis - Indonesia, South Korea, Thailand, Malaysia and the Philippines.

Loans in Indonesia totaled Y2.12 trillion, while loans in South Korea totaled Y1.75 trillion and those in Thailand totaled Y3.16 trillion.

Bank of Tokyo-Mitsubishi Ltd. reported Y4.35 trillion in loans in Asian countries besides Japan, the highest of any of the banks. Seven banks reported more than Y1 trillion of Asian lending, and these banks accounted for 77 percent of the total.

The federation also reported that the 19 banks had Y77.8 billion in loans outstanding in Russia.