Shinsei Bank canceled a shareholder vote on a poison pill defense against a takeover bid from Yoshitaka Kitao’s SBI Holdings that was scheduled for Thursday.
A takeover fight erupted for Shinsei in September when Japan’s biggest online brokerage launched a rare unsolicited tender offer to increase its stake in Shinsei.
Shinsei has moved to defend itself from an SBI takeover bid, saying it would introduce a strategy designed to dilute the suitor’s stake.
Regulatory officials in Japan are treading a fine line between supporting an environment where financial firms seek out higher returns, while guarding against excessive risk taking.
CEO Yoshitaka Kitao sees the acquisition of the bank as key to expanding his sprawling businesses.
All 460 Mizuho Bank branches nationwide were not able to process transactions for about an hour on Friday morning due to an IT hardware failure the previous night.
While the FSA chief is open-minded about the potential benefits that crypto-assets possess as a quick way to send cash, in Japan they are mainly being used for speculation and investment.
Mitsubishi UFJ Financial Group Inc. expects to begin buying credit, equities and alternative assets in the second half of this year that will likely focus on U.S. securities.
Deposits at the nation’s top three banks alone grew by ¥41 trillion in the year ending in March.
The mortgage lender is enjoying a surge in demand for credit from homebuyers seeking larger properties in the suburbs, where the bank has a strong presence.