Nanzan University hit by ¥3.4 billion in derivatives losses
Nanzan University, a school known for its large Center of Japanese Studies program, has announced 3.4 billion yen in derivatives losses:
But since the corporation made around ¥2.6 billion since concluding a contract for the derivatives deals in fiscal 2006, the real loss will actually be around ¥800 million, it said.
Rapid fluctuations in currency exchange markets caused by the global financial crisis caused the losses.
“While the losses will not cause any troubles for our education and research activities, we will refrain from investing in high-risk financial products,” said Nanzan School Secretary General Tadao Kato.
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