Struggling U.S. financial giant Citigroup Inc. is testing local interest in Nikko Asset Management Co., a key Japanese unit it wants to sell for roughly ¥100 billion, sources familiar with the matter said Saturday.
While Japan’s megabanks and some life insurers have shown an interest in the unit, Mitsubishi UFJ Financial Group Inc., the largest of the megabanks, is seen as the front-runner, the sources said.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see this support page.
We humbly apologize for the inconvenience.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.
SUBSCRIBE NOW
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.