Merrill Lynch suffers loss of JA¢D22.4 bln in Japan

Merrill Lynch saw its business in Japan record a loss of JA¢D22.4 bln in 2000, down JA¢D3.5 bln against JA¢D25.9 bln in 1999. The fund house had expected to break even in 1999 when it entered the Japan market in 1998, but unfortunately it had undergone losses for the past 3 years.

Merrill Lynch has 33 offices in Japan. It announced to close down 6 last week.

Currently, Merrill Lynch has 110,000 clients in Japan with assets worth JA¢D1.84 trillion.

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