May 16, 2017

2016 profits off for four big Japan banks amid low rates, Toshiba woes

Four of Japan's five major banking groups posted lower profits for the year through March 31, due largely to the worsening business performance of major borrower Toshiba Corp. and extremely low interest rates, according to earnings reports. The five banks, including the three mega-bank groups ...

'Tokyo' may be dropped from name of Japan's top bank

/ May 15, 2017

'Tokyo' may be dropped from name of Japan's top bank

Bank of Tokyo-Mitsubishi UFJ is considering dropping "Tokyo" from its name amid complaints from customers that it is too long, sources said Sunday. The core unit of Japanese industry leader Mitsubishi UFJ Financial Group Inc. is likely to be renamed MUFG Bank as early as ...

/ May 13, 2017

Abe's team sends mixed signals on joining China-led AIIB

The idea of Japan joining the China-led Asian Infrastructure Investment Bank is finding renewed enthusiasm within the administration of Prime Minister Shinzo Abe, sources have said. The idea has advocates within the Prime Minister's Office and the trade ministry, and is backed by Toshihiro Nikai, ...

Apr 15, 2017

Hackers release files indicating NSA monitored global bank transfers

Hackers on Friday released documents and files that indicate the U.S. National Security Agency accessed the SWIFT interbank messaging system, allowing it to monitor money flows among some Middle Eastern and Latin American banks. The release included computer code that could be adapted by criminals ...

/ Apr 12, 2017

Bank deposits top ¥700 trillion for first time

Bank deposits in Japan have exceeded ¥700 trillion for the first time, due to an influx of funds amid low interest rates that are the result of the Bank of Japan's monetary easing policy, industry data showed Tuesday. The low interest rates have reduced investment ...

/ Apr 5, 2017

Mega-bank groups to trim new grad hiring in 2018

The nation's three mega-bank groups, including Bank of Tokyo-Mitsubishi UFJ, plan to hire fewer new graduates in spring 2018, bucking an upward trend seen in other business sectors. The core unit of Mitsubishi UFJ Financial Group Inc. expects to employ some 1,100 new graduates next ...

/ Apr 5, 2017

Top two Niigata banks strike up integration plan

Daishi Bank and Hokuetsu Bank, both regional institutions in Niigata Prefecture, said Wednesday that they have reached a basic agreement to integrate their operations by setting up a joint holding company in April 2018. The banks will operate under the holding company while they consider ...

Apr 4, 2017

More bankers unhappy with bonuses at foreign firms in Japan

An increasing number of bankers working at foreign firms in Japan are unhappy with their bonuses, and falling expectations for raises are giving them more cause to gripe, according to a Morgan McKinley survey. Forty percent of respondents were dissatisfied with their bonuses, up from ...