Rather than closing their positions as the market moved against them, the traders chose to conceal their true positions - allowing those positions to deteriorate unchecked over a period of three months before they were finally discovered. The traders were able to paint a rosy picture of P&L and masked losses by amending trades and using fictitious trades.
For that reason, an increase in profitability is an imminent challenge. In doing so, while it applies to every industry, it is essential to choose the optimal business model that utilizes an institution’s respective realms of expertise. As I have mentioned earlier, competition in commercial banking business, in which Japanese financial institutions are mainly engaged, is expected to intensify at home and abroad.