The Japanese practice of cross-shareholdings, convenient to entrenched management, but damaging...

|By:, SA News Editor

The Japanese practice of cross-shareholdings, convenient to entrenched management, but damaging to other investors, continues to haunt. The collapse in TEPCO (TKECY.PK) shares is causing write-downs at many of Japan's major financials. We haven't even gotten around to bondholdings yet. SMFG -2.5%, MTU -1.8%, MFG -1.4%.