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JAPAN
Oct 2, 1998

IBJ, Dai-ichi Life plan tieup by 2000

The Industrial Bank of Japan and Dai-ichi Mutual Life Insurance Co. announced Friday a plan for a broad-based business tieup designed to strengthen each side to survive the Japanese "Big Bang" financial deregulation.The move is the latest business alliance to be announced among the major Japanese financial...
JAPAN
Oct 1, 1998

DKB, J.P. Morgan form investment trust venture

Dai-Ichi Kangyo Bank and J.P. Morgan and Co. of the United States has sealed a tieup agreement to sell investment trust products in Japan through DKB's sales channels, the two companies announced Thursday.The move is an attempt to gain a competitive edge over established alliances between rival financial...
JAPAN
Sep 9, 1998

BOJ slashes call rate in monetary rescue action

In a surprise move, the Bank of Japan's Policy Board agreed Wednesday to further ease monetary policy by guiding the weighted average of the overnight call money rate down to around 0.25 percent per year.
JAPAN
Jul 28, 1998

Sumitomo Bank, Daiwa to set up joint ventures

Sumitomo Bank and Daiwa Securities Co. have agreed to start three joint ventures next April in a move to secure an edge over competitors under the ongoing ""Big Bang" financial deregulations, the two companies announced Tuesday.
JAPAN
Jul 6, 1998

Hayami voices concern over economy's malaise

Bank of Japan Gov. Masaru Hayami reiterated Monday the need to overhaul the economy, with improvement of the now-stagnant business conditions and reform in the financial system as the two keys to revival.
JAPAN
Jun 23, 1998

White elephant tries to move decades of debt

BY SAYURI DAIMONStaff writer
JAPAN
May 22, 1998

Merging banks first to take advantage of DIC law revision

The planned merger between Fukutoku Bank and the Bank of Naniwa, two Osaka-based regional firms, will mark the first case in which merging banks, both ailing, receive financial help from the government-backed Deposit Insurance Corp., the Finance Ministry announced Friday.
JAPAN
Mar 19, 1998

GE Capital receives insurance license

The Finance Ministry on March 19 issued an operating license to GE Capital Edison Life Insurance Co., a new insurer to be set up jointly by Toho Mutual Life Insurance Co. and leading U.S. nonbank financial firm GE Capital Services Inc.
JAPAN
Feb 17, 1998

Lending still cautious but easing, BOJ reports

Banks now have weaker lending constraints because of rebounding stock prices, the yen's appreciation and the high expectations for the government's financial stabilization measures, the Bank of Japan said Tuesday.
JAPAN
Feb 12, 1998

Merrill Lynch to set up second brokerage house in Japan

U.S. financial management giant Merrill Lynch & Co. announced Thursday it plans to open a new brokerage house in Japan this summer and will hire about 2,000 former employees of the failed Yamaichi Securities Co. to work in about 30 outlets across the country.
JAPAN
Jan 7, 1998

Brokers' shady deals target of amendment

Steps to amend the Securities and Exchange Law will be submitted to the upcoming Diet session so that profits made by brokerages through shady means such as market manipulation can be confiscated, Finance Minister Hiroshi Mitsuzuka said Tuesday.The proposed revision is part of the ministry's package...
JAPAN
Dec 3, 1997

Top banker praises public funds plan

The leader of the nation's top banking association welcomed on Tuesday the government's intention to use public funds for future financial crises, describing the plan as a "safety valve" for contingencies that fall beyond the capacity of the existing system tasked with dealing with such problems.
JAPAN
Nov 24, 1997

Ministry searches for measures to protect depositors

Alarmed at the successive failures of large financial firms -- the latest being Yamaichi Securities Co. -- the Finance Ministry said Monday it has begun studying new measures to ensure market stability and protect depositors, investors and insurance policy holders, with Finance Minister Hiroshi Mitsuzuka...
JAPAN
Nov 10, 1997

Asian economic jitters fuel TSE selling spree

Pessimism reigned Monday over prospects for the Tokyo stock market and the yen's value against the dollar.
JAPAN
Oct 30, 1997

MMC chairman, president exit over scandal

Takemune Kimura, president of Mitsubishi Motors Corp., said Thursday that he and Chairman Hirokazu Nakamura will quit their posts to take the blame for the recent arrest of four MMC executives suspected of illegally paying off "sokaiya" corporate extortionists.
JAPAN
Sep 30, 1997

NCB and Bankers Trust reach cross-shareholding agreement

Nippon Credit Bank and Bankers Trust Co. of the United States will hold between 1 billion yen and 2 billion yen in each other's shares, and Bankers Trust will also acquire an option to buy additional NCB shares worth 15 billion yen in three years, NCB announced Sept. 30.
JAPAN
Sep 12, 1997

BOJ outlines new structural reorganization plan

The Bank of Japan partially outlined an organizational reform plan Sept. 12 that would streamline its operations starting in April 1998.
JAPAN
Jul 30, 1997

Nomura, DKB hit with harsh penalties

The Finance Ministry slapped administrative penalties July 30 on Nomura Securities Co. and Dai-Ichi Kangyo Bank lasting from five months to a year for their roles in one of the biggest financial scandals to hit the nation this decade.
JAPAN
Jul 11, 1997

Baht turmoil will subside, Mitsuzuka says

Turmoil on the foreign currency markets following Thailand's decision last week to float the baht will soon subside, Finance Minister Hiroshi Mitsuzuka predicted July 11.
JAPAN
Jun 16, 1997

Barclays, Hokkaido Takushoku eye business tieup

Hokkaido Takushoku Bank and Barclays Bank PLC announced June 16 they will begin discussions toward mutual business cooperation in such areas as asset securitization and development of products for the Japanese market.
JAPAN
Apr 25, 1997

NCB, Bankers Trust formally announce tieup

Nippon Credit Bank and Bankers Trust Company formally announced April 25 their agreement to collaborate on securitization of transactions and overseas financial business operations and to hold shares in each other.
JAPAN
Mar 28, 1997

Support for NCB crucial, Mitsuzuka says

Support for ailing Nippon Credit Bank, which is expected to unveil a sweeping restructuring program soon, is imperative for maintaining financial stability both at home and abroad, Finance Minister Hiroshi Mitsuzuka said Mar. 28.
JAPAN
Feb 18, 1997

Banker raps holding-company rules

Less stringent limitations than those currently proposed should be placed on financial holding companies to be allowed under a revised Antimonopoly Law, the head of the nation's banking industry said Feb. 18.
Japan Times
JAPAN / Politics
May 21, 2023

At Hiroshima G7, Zelenskyy rallies support for defense of Ukraine

The Group of Seven summit wrapped up with the Ukrainian leader making his case for further support in repelling Russia's invasion.
Japan Times
BUSINESS
May 11, 2023

As G7 finance summit kicks off, warnings of ‘catastrophe’ in the U.S.

Talks were to be about the global economy, but the spotlight was on negotiations over the U.S. debt ceiling in Washington.
Japan Times
BUSINESS
May 9, 2023

Yellen is calling CEOs personally to warn on U.S. debt ceiling, sources say

Yellen told lawmakers last week that Treasury will likely be unable to pay all the government's bills as early as June 1 without an increase in the federal debt limit.
Japan Times
COMMENTARY / World
May 1, 2023

The sources of East Asia’s industrial prowess

The United States cannot ignore its own dependence on small Asian economies like South Korea and Taiwan for advanced technologies.
Japan Times
BUSINESS
Apr 19, 2023

Daiwa to start using AI chatbot spurned by Wall Street banks

Japan’s second-biggest brokerage plans to adopt the ChatGPT technology from this month for all of its 9,000 domestic employees, adding that it has 'limitless potential.”
Japan Times
BUSINESS / Economy
Apr 12, 2023

IMF issues growth warning as it lowers 2023 forecast

Concerns over high inflation, rising geopolitical tensions and financial stability hang over the updated forecasts, with the impact of war in Ukraine continuing to dampen growth.
Japan Times
BUSINESS / Markets
Mar 20, 2023

Asian markets downcast despite UBS takeover of Credit Suisse

The 225-issue Nikkei average, Hong Kong’s Hang Seng and Australia’s S&P/ASX were all down, as turbulence in the banking sector continued to cast a shadow.

Longform

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