Japan's top banks set to report record profits but face tariff stress test

TOKYO -- Japan's top three banks are set to report combined net profit of roughly 3.9 trillion yen ($26.3 billion) for the year ended March, a 25% gain propelled by sales of cross-held shares and the Bank of Japan's interest rate hikes, Nikkei has learned.

This will mark the second straight year of record earnings for the banks, which have broken out of a long slump of near-zero interest rates.