Japan’s Aozora Loses 33% of Value in Two-Day Stock Meltdown

Bank forecasts first loss in 15 years because of US property
Aozora is the second-most shorted stock on the Nikkei 225

WATCH: Japan’s Aozora Bank expects to post a net loss of $191 million because of losses tied to US commercial property. Russell Ward reports.Source: Bloomberg

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By Winnie Hsu and Taiga Uranaka

February 2, 2024 at 12:02 AM UTC

Updated on

February 2, 2024 at 5:43 AM UTC

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Japanese lender Aozora Bank Ltd. plunged for a second straight day after saying it would have its first loss in 15 years because of bad loans tied to US property.

The company’s two-day tumble wiped out 33% of its value, equivalent to 128 billion yen ($870 million) in market capitalization.