TOKYO -- Japan's three biggest banks, which together hold $13 billion of SoftBank Group debt on their balance sheets, are sticking with the Japanese technology company despite its massive investment losses as rock-bottom interest rates push them toward corporate deals and overseas lending.
"Lending decisions are made based not just on one profit-and-loss statement," Mizuho Financial Group president Tatsufumi Sakai said in an earnings announcement on Thursday. He was apparently referring to SoftBank's second-quarter loss of $6.4 billion, following a blowout profit in the first quarter.
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