Staff writer
Analysts viewed the merger plans announced Thursday by Sakura Bank and Sumitomo Bank in a positive light as part of a drastic industry realignment sweeping the nation's banking sector.
Ryoji Sekido, associate partner at Andersen Consulting's strategic services division, said the Sakura-Sumitomo merger makes more sense than the three-way consolidation between Industrial Bank of Japan, Dai-Ichi Kangyo Bank and Fuji Bank announced in August.