Business Jan 9, 2020
Japan firms pull staff out of Iran and limit Iraq travel amid high tensions
by Masumi Koizumi
As of Oct. 1, 2018, Japanese companies have 30 operational bases in Iran, according to the Ministry of Foreign Affairs.
Business / Corporate Dec 24, 2019
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 ...
Business Dec 16, 2019
Masayoshi Son's bankers worried about their favorite client
by Taiga Uranaka and Takahiko Hyuga
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 ...
Business / Corporate Dec 10, 2019
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 ...
National Dec 7, 2019
Report names Japan's top three mega-banks as the world's biggest lenders to coal plant developers
by Ryusei Takahashi
Japan's three biggest commercial banks are the world's top financiers of new coal plants, according to research released Thursday in Spain at the United Nations Climate Change Conference. Mizuho Financial Group, Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group together accounted for 32 percent ...
Business / Financial Markets Dec 4, 2019
MUFG Bank will set up a joint company with human resources services provider Recruit Holdings Co. to launch a smartphone-based cashless payment service, it was learned Wednesday. The core banking arm of Mitsubishi UFJ Financial Group Inc. will seek to utilize Recruit's client base of ...
Business / Corporate Nov 15, 2019
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 ...
National Oct 26, 2019
Investment is increasing as nuclear weapons states such as the United States and Russia are advancing arms expansion and developing weapons, the report’s author said.
Business / Corporate Sep 25, 2019
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 ...
Business Aug 28, 2019
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 ...
Business Aug 16, 2019
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.
Business Jul 26, 2019
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 ...