Japan Post to resume marketing of savings products after suspension due to irregularities
Japan Post Co. said Wednesday that it will resume marketing activities for savings products offered by Japan Post Bank Co. on Monday, following a suspension due to sales irregularities involving Japan Post Insurance Co. Japan Post suspended sales of insurance products from mid-July and marketing ...
SoftBank in talks with Japanese banks as it seeks loans to bail out WeWork
SoftBank Group Corp. is in talks with partner financial institutions including Mizuho Bank to secure loans totaling ¥200 billion to ¥300 billion to support The We Co., operator of the WeWork office-sharing business, sources with knowledge of the matter said Thursday. SoftBank plans to provide ...
The choice for governments and central banks is whether to stand in front of a train that is gaining steam, or get on board and reap the benefits.
Japanese banks face headwinds even with current profit goals in sight
Even as the nation's biggest banks remain on course to achieve their full-year earnings goals, they are losing profit drivers. Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc. all posted declines in fiscal second-quarter net income, as they ...
Japan to make it easier for troubled banks to get capital boost
The Financial Services Agency has decided to make it easier for regional banks with solid financial standing to put money into their struggling peers, introducing a special measure under which their capital-to-asset ratios will not be reduced, according to officials. The measure is likely to ...
BOJ says banks vulnerable to falling prices of corporate loans if global economy worsens
Japanese banks, which have been rapidly accumulating bundled corporate loans abroad, are vulnerable to a steep drop in their prices if the global economy deteriorates, the nation's central bank has warned. The ratings and market prices of even top-rated collateralized loan obligations, or CLOs, held ...
Four banks in the Resona Holdings Inc. group have set up a project to expand business relations with small companies and revitalize the local economy in the Kansai region, Resona Bank Vice President Hajime Kosaka said in a recent interview. The project will be run ...
SoftBank Group Corp. is assembling a rescue financing plan for WeWork that may value the office-sharing company below $8 billion, according to people familiar with the discussions. The new figure is a fraction of the $47 billion valuation the startup commanded as recently as January. ...
Mizuho Financial Group Inc. is extending riskier types of corporate credit to fend off competition in a country that's awash with easy money. Japan's third-largest bank by market value will offer companies more subordinated loans and other types of mezzanine finance, said Koji Fujiwara, CEO ...
Japan's FSA chief urges regional banks to promote internal reform rather than wait for help
Regional banks in Japan should promote reform to overcome difficulties instead of relying on outside help, Financial Services Agency Commissioner Toshihide Endo said in a recent interview. "It is important (for regional banks) to come up themselves with corporate philosophies that will make their local ...
Japanese investor has $1 billion to plow into shaky regional banks
Yoshitaka Kitao wants to build a financial empire in an area shunned by investors: the downtrodden ranks of Japan's regional banks. The chief executive officer of SBI Holdings Inc. says he has close to $1 billion to plow into any of the 104 local lenders ...
Kenya finds $71 million in suspect cash as it retires old notes
A Kenyan anti-corruption drive uncovered the equivalent of tens of millions of dollars in unexplained wealth when it retired old banknotes, the central bank said on Wednesday, adding much of the cash appeared to have been gained in "the criminal area." The East African nation ...
