Japan’s Aozora Set for Second-Day Plunge After US Property Loss

Japanese lender Aozora Bank Ltd. extended its losses on Friday, plummeting as much as 19% to the lowest since Feb. 2021. The stock tumbled by its daily limit Thursday on losses tied to US commercial property.

Shares of the Tokyo-based bank tumbled Thursday for its biggest decline in 15 years, after the bank said it expects to post a net loss of 28 billion yen ($191 million) for the fiscal year, compared with its previous forecast for profit. Aozora made an additional reserve of 32.4 billion yen against bad loans related to US office real estate.

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