H ere are the latest economic data from a sobering Land of the Rising Sun. Following the problems in the sub-prime lending market in America and the run on Northern Rock in the United Kingdom, economic uncertainty has now hit Japan.

In the last seven days the Origami Bank has folded, the Sumo Bank has gone belly up and the Bonsai Bank announced plans to cut some of its branches. Yesterday, it was announced that the Karaoke Bank is up for sale and will likely go for a song, while today trading of the shares in the Kamikaze Bank was suspended after they nose-dived.

While the Samurai Bank is soldiering on following sharp cutbacks, the Ninja Bank is reported to have taken a hit but it remains in the black.

Furthermore, 500 staff members at the Karate Bank got the chop.  Financial analysts report also that there is something fishy going on at the Sushi Bank, where it is feared that staff may get a raw deal, if not a smelly new labor contract.

Meanwhile, Japanese bankers expressed a yen, if not a longing, for a more-stable American dollar.

There were major developments also among the Japanese car companies that are operating factories in the United States. Honda, the Japanese automaker, has denied reports that it has hired Los Angeles-based news anchor, Tritia Toyota, as its spokesperson. Toyota, the number-two automaker in the world, has refuted reports that it has offered the presidency of its U.S. operations to California Congressman Mike Honda if he chooses not to run for reelection in 2010.

Editor’s Note: Tom Seyer, the MabuhayRadio.com Asian bureau chief, contributed the reports about the Japanese car industry. # # #