Mitsubishi Tokyo Financial (the old Bank of Tokyo) is one of the largest and, by conventional wisdom, financially strongest of the Japanese banks.
Last week, the Nikkei 225 index hit a 20 year low. However, over the last 18 months, the Japanese banks have managed to significantly under perform that average. Mitsubishi Tokyo Financial is down over 60% in 18 months. If Japan's economy ever becomes healthy, this stock could benefit significantly. It has a somewhat questionable book value of $3.18/share and is one of the cheapest international stocks currently on a price to sales basis.
Is there any hope for this one or is another 20 years of declines ahead? |
