Clouds lifting for Japan's banks as negative rates stay put

Business / Corporate Aug 2, 2016

Clouds lifting for Japan's banks as negative rates stay put

The Bank of Japan's decision not to drag interest rates further below zero provides relief for the nation's banks after shrinking lending profits crimped first-quarter earnings. Combined net income at Mitsubishi UFJ Financial Group Inc. and its two mega-bank peers fell 28 percent from a ...

SMBC ups pay for first time in 19 years

Business / Corporate Mar 27, 2014

SMBC ups pay for first time in 19 years

Sumitomo Mitsui Financial Group Inc.'s lending unit has agreed to raise salaries for the first time in 19 years as an economic recovery spurs profit at Japan's second-largest bank by market value. The company will increase base pay by 0.5 percent in the coming financial ...

Business / Corporate Dec 13, 2013

Sumitomo Mitsui to buy U.S. rail car lease firm

Sumitomo Mitsui Financial Group Inc. has agreed to buy railroad car-leasing company Flagship Rail Services LLC from a unit of Perella Weinberg Partners. The transaction, valued at $1.1 billion, will probably be completed by the end of the month, pending regulatory approvals, according to a ...