OREANDA-NEWS. Company Citigroup Inc declared on Monday that it will close the majority of Japanese representations because of introduction of new laws, which block reception of profit by the creditors, gazeta.ru informed.

The loss of the company in the fourth quarter will make $370 million. The largest American bank will incur costs at the rate of $40 million for closing 270 out of 320 branches in Japan and 100 ATMs.