TOKYO -- Norinchukin Bank, the Japanese farm lender behemoth, likely will report group net profit of around 270 billion yen ($2.46 billion) for the year ended in March, a decline of over 30%.
Still, the profit would be the third highest for the central bank for agricultural cooperatives, eclipsing a target in Norinchukin's medium-term business plan. Total assets surpassed 100 trillion yen for the first time amid a massive influx of funds local co-ops could not handle.
