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Aichi Bank expects ¥1.65B in stocks write-down for fiscal Q1

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Aichi Bank expects ¥1.65B in stocks write-down for fiscal Q1

Aichi BankLtd. expects to post ¥1.65 billion in stocks write-down for thefiscal first quarter ended June 30.

The impact of the write-down on the bank's earnings is notyet clear, but the lender said July 11 that it will issue a change in guidanceif it deems necessary. The bank is scheduled to release its earnings result Aug.5, a spokesman said.

The write-down is more than a quarter of the bank's full-yearnet income for the fiscal year ended March 31.

Japanese institutional investors, including Aichi Bank, havediverted money from Japanese government bonds to relatively riskier stocks andforeign bonds in search of higher yields in the past few years.

As of July 11, US$1was equivalent to ¥102.61.