Printer Friendly

Sumitomo Trust to pay corporate taxes for 1st time in 13 years.

TOKYO, Sept. 20 Kyodo

Sumitomo Trust & Banking Co. is expected to pay corporate taxes for the first time in 13 years in the business year to March 2007 as the bank has been performing well amid Japan's economic recovery, banking industry sources said Tuesday.

Sumitomo Trust is likely to pay some 20 billion yen in corporate taxes, becoming the first among Japan's six major financial groups to resume corporate tax payments.

Since the bursting of the bubble economy in the early 1990s, which left a mountain of bad loans, major banks have not been making corporate tax payments for losses carried forward.
COPYRIGHT 2006 Kyodo News International, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Japan Weekly Monitor
Date:Sep 25, 2006
Words:102
Previous Article:Sumo: Results of main bouts for 10th day of Autumn sumo.
Next Article:Dollar trades at mid-117 yen in early Tokyo.
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters