MUFG to cut brokerage staff in Hong Kong, Singapore and Sydney
Mitsubishi UFJ Financial Group Inc. is planning to cut about half of its 150-strong workforce at its securities business in Hong Kong, Singapore and Sydney, people with knowledge of the matter said. Japan's biggest bank will focus the reductions on sales and trading, the people ...
Japan credit card firms may apply discounts to monthly payments to ease impact of tax hike
Major credit card companies are considering deducting points earned during purchases from the balance requiring payment, under a government rebate program intended to cushion the impact of the consumption tax hike planned for October, it was learned Tuesday. Observers have suggested such a move would ...
Japanese firms in Hong Kong concerned protests may escalate as ministry issues warning
The Foreign Ministry’s Level 1 travel warning is its weakest, but Japanese financial institutions operating in the international financial hub are growing wary of conducting business there.
MUFG Bank to open 'workation' offices in Karuizawa and Singapore in bid to boost productivity
MUFG Bank said Thursday that it will open "workation" offices, designed to allow employees to balance work demands while enjoying a vacation, in the resort town of Karuizawa, Nagano Prefecture, and Singapore, on Monday. The core unit of Mitsubishi UFJ Financial Group Inc., one of ...
Japan banking giants MUFG and SMBC to start sharing ATMs in September
MUFG Bank and Sumitomo Mitsui Banking Corp. have announced they will make ATMs outside their branches available to each other's customers from Sept. 22. Customers of each bank will be able to withdraw cash from either kind of ATM for free during the daytime on ...
MUFG on track to be Japan's first yuan clearing bank after expected Abe-Xi deal at Osaka G20
MUFG Bank is expected to become the first Japanese bank to be designated as a yuan clearing bank, sources said Wednesday. Japanese Prime Minister Shinzo Abe and Chinese President Xi Jinping are likely to reach an agreement on MUFG's designation when they meet in the ...
MUFG, Japan's biggest bank, offers redundancy to hundreds of managers in London
Mitsubishi UFJ Financial Group Inc. is preparing major job cuts in London, another sign of the deepening troubles Japanese banks face at their overseas operations. MUFG, Japan's largest lender, is offering voluntary redundancy packages to about 500 directors and managing directors in London, according to ...
New accounts at MUFG to go digital by default as bank seeks to wean customers off passbooks
Major lender MUFG Bank will no longer issue paper passbooks from June to most customers who open new deposit accounts over the counter, sources said Thursday. The move is aimed at promoting the use of online banking services. MUFG Bank also aims to reduce costs, ...
Sumitomo Mitsui Financial increases planned cuts, to the equivalent of 5,000 employees' workload
Sumitomo Mitsui Financial Group Inc. will increase planned cuts to its head count that will now reduce work done by the equivalent of nearly 5,000 employees over the three years to March 2020, it was learned Wednesday. Cuts reducing head count by the equivalent of ...
Mizuho to tighten rules on lending to coal-fired power plants in line with other Japan banks
Mizuho Financial Group Inc. said Wednesday that it will tighten lending standards for coal-fired power plants with high emissions of carbon dioxide, as part of its efforts to combat climate change. Mizuho will also provide discussion and consulting services for clients who want to "decarbonize," ...
MUFG president tells investors of bank's plans to shutter 80 more outlets in Japan
Mitsubishi UFJ Financial Group Inc. President Kanetsugu Mike said core unit MUFG Bank will scrap about 80 more branches in Japan in a bid to further cut costs and improve earnings. He announced the plan at a meeting Monday with investors. Previously, the bank planned ...
Nomura's retreat again highlights how Japan's banking behemoths struggle to succeed abroad
Time and again since Japan emerged as a global economic force, its financial leaders have hatched plans to translate their influence into investment-banking clout. Time and again, they've failed. The retreat sounded last month by Nomura Holdings Inc. marks just the latest overseas flop, prompting ...
