Tokyo brokerages see lower profitsThree of Japan's "Big...

BUSINESS DIGEST

September 22, 1993

Tokyo brokerages see lower profits

Three of Japan's "Big Four" brokerages announced large downward revisions yesterday in their earnings forecasts for the current fiscal year because of lower-than-expected turnover on the Tokyo Stock Exchange. Japan's sagging economy and a string of scandals involving brokerage houses have reduced demand for stocks.

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