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Japan banks now among world's biggest energy lenders

Souring loans becoming a drag on earnings, even though energy is only a fraction of their business

New York

JAPANESE banks, known for the risk aversion that spared them the worst of the credit crisis, have quietly grown into some of the world's largest energy lenders.

Mitsubishi UFJ Financial Group Inc (MUFG), Japan's largest bank, disclosed last month that it had become one of