1.   Japanese companies are considered at risk of bankruptcy and banks at risk of valuation losses on their equity holdings once the index falls below that level.

2.   The Japanese stock market decline also means banks have huge valuation losses on their investment portfolios, it said.

3.   Yesterday was the last day of the fiscal half year and banks will post valuation losses on their equity holdings, the Nihon Keizai newspaper reported.

4.   At home, all three brokerages suffered from the weak stock market, rules allowing more competitive commissions, and securities valuation losses.