Toyota requests $9 billion credit line from Japanese mega-banks SMBC and MUFG
Toyota Motor Corp. has asked two mega-banks to set up a credit line of ¥1 trillion ($9.2 billion), company sources said Friday, a move that signals the leading automaker is struggling with rising fundraising costs caused by the coronavirus outbreak. Toyota's financial base remains solid, ...
Bank of Japan asks major lenders about contingency plans following infection at MUFG
The rapid spread of the new coronavirus has prompted the Bank of Japan to ask major banks how prepared they are for a worsening of the outbreak, people with knowledge of the matter said. Initial findings from the talks indicate that large financial institutions are ...
Rethinking the need for personal stamps and seals in modern society
Last month, MUFG Bank Ltd. started offering ¥1,000 to each of its first 100,000 customers willing to give up their paper passbooks. MUFG wants people to switch to online banking, which is cheaper for banks — and not just because they can save on ...
MUFG Bank launches system development and operations unit in India
MUFG Bank has set up a system development and operations wing in India, with plans to develop it into a unit that supports the bank's business across the Asian and Oceanian regions and elsewhere. MUFG Bank, a unit of Mitsubishi UFJ Financial Group Inc., established ...
The labor union at MUFG Bank plans to scrap its current system of seeking pay scale hikes at a uniform rate for all workers in this year's shuntō labor management talks, it has been learned. Based on a proposal from the management side, the union ...
Mitsubishi UFJ Financial Group Inc. has posted its first quarterly loss in a decade and cut its annual profit forecast after booking a hefty charge on its stake in an Indonesian bank. Core lending business slumped in the fiscal third-quarter, covering October to December, underscoring ...
Japanese firms take Brexit in stride but worry over British prospects for trade talks with EU
Japanese companies in Britain are taking the British exit from the European Union in stride, but some are wary that if Britain-EU trade talks falter, prospects for business in Europe will become uncertain. Many firms had already completed preparations for Britain's exit from the bloc, ...
Japan's largest bank offers users ¥1,000 to give up paper passbooks and go digital
To encourage more customers to go digital, Japan's largest bank is offering depositors who give up their paper bankbooks a ¥1,000 reward. In a campaign that kicked off Friday, MUFG Bank will pay 100,000 customers ¥1,000 if they go fully digital. The ¥100 million reward ...
Japan firms pull staff out of Iran and limit Iraq travel amid high tensions
As of Oct. 1, 2018, Japanese companies have 30 operational bases in Iran, according to the Ministry of Foreign Affairs.
WeWork bailout stalls as Japan banks balk at lending Softbank $3 billion
SoftBank Group Corp.'s talks to secure $3 billion (about ¥328 billion) from the nation's three biggest banks have stalled as the lenders have hit internal lending limits to the firm, two people said, complicating a $9.5 billion rescue package for WeWork. The technology conglomerate is ...
Masayoshi Son's bankers worried about their favorite client
Masayoshi Son's bankers are taking a hard look at their most important client. After the costly rescue of office-sharing startup WeWork and a series of other high-profile setbacks for Son, senior executives at two of Japan's biggest banking groups have said privately they've grown less ...
Some banks are levying more fees as a way to cover plunges in revenue, with industry leader MUFG Bank considering a maintenance charge for inactive accounts. The moves reflect a tougher business environment amid prolonged low interest rates as well as higher costs for labor ...
