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Awards for Excellence 2009: Japan

Best Bank: Resona Holdings
Best Debt House:
Mizuho Financial Group
Best Equity House: Nomura
Best M&A House: Nomura

It was another miserable 12 months for Japan’s banks, with the three megabanks, the tier below them and the smaller regional banks all suffering as domestic bankruptcies from the plummeting economy caused NPL levels to rise and Lehman Brothers-related investments turned bad. Total losses from bad loans among the top banks amounted to ¥1.7 trillion ($17.6 billion) and the three largest financial groups – MUFG, Mizuho FG and SMFG – all reported heavy losses for the year.

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