Nochu Expects Bigger First Brands-Related Loss, Keeps Target

The bank, also known as Nochu, is trying to sustain a return to profit following massive losses on foreign bonds last fiscal year.Photographer: Kiyoshi Ota/Bloomberg

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February 4, 2026 at 9:47 AM UTC

Norinchukin Bank said it expects to book additional losses from a joint venture over First Brands Group-related transactions, but it’s keeping its original target of ¥30-70 billion yen ($192-447 million) in annual net income.

JA Mitsui Leasing Ltd. will book a ¥150.5 billion allowance on the collapsed US auto-parts supplier, more than three times what it had set aside in November, the company said in a statement on Tuesday.