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April 18, 2024
 

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SUMITOMO

Signage for MUFG Bank, Mizuho Bank and Sumitomo Mitsui Banking in Tokyo. A coalition of climate groups filed shareholder proposals with the three banks calling for stricter board oversight of climate-related risks.
BUSINESS / Companies
Apr 15, 2024
Climate investors target board oversight of top Japan banks: sources
The proposal marks the first time climate groups have targeted bank boards as a way to pressure the lenders on climate change.
Execs at four major Japanese insurers, including Tokio Marine & Nichido Fire Insurance, will take pay cuts over price fixing.
BUSINESS / Companies
Mar 1, 2024
Four general insurance firms punish 132 people over price-fixing
The four general insurers, including Tokio Marine & Nichido Fire Insurance, also submitted business improvement plans to the Financial Services Agency.
Toru Nakashima, CEO of Sumitomo Mitsui Financial Group, says he is considering an expansion of the bank’s alliance with Jefferies Financial Group into Asia.
BUSINESS / Companies
Feb 27, 2024
Sumitomo Mitsui may expand Jefferies pact into Asia amid focus overseas
The partners won more than 30 deals since expanding their tie-up last year, in which Sumitomo Mitsui agreed to triple its stake in the U.S. bank.
Warren Buffett
BUSINESS
Feb 25, 2024
Buffett ups his holdings of Japanese trading houses to about 9%
Berkshire first announced its stakes in the trading houses in 2020 with the intention of holding them long-term and increasing them to as much as 9.9%.
Warren Buffett's Berkshire Hathaway is one of the largest shareholders in all five of Japan's biggest trading companies.
BUSINESS / Companies
Jan 30, 2024
Buffett reversal risk pushes Japan firms to diversify investors
Berkshire is one of the largest shareholders in all five of Japan’s biggest trading companies.
A shinkansen platform at JR Tokyo Station on Dec. 29
JAPAN
Jan 11, 2024
Japan firms opt out of Malaysia-Singapore high-speed rail project
The development could allow rival Chinese businesses to further solidify their footprint in infrastructure building in East Asia.
The Tokio Marine & Nichido Building in the Marunouchi district of Tokyo
BUSINESS / Companies
Dec 26, 2023
Japan penalizes biggest property insurers for price fixing
The Financial Services Agency has issued business improvement orders on the core units of Tokio Marine, MS&AD Insurance and Sompo.
Mitsubishi UFJ Financial Group CEO Hironori Kamezawa
BUSINESS / Companies
Dec 22, 2023
Japan banks scramble to beef up asset management businesses
Asset management has emerged as an area of focus for the banks this year amid signs decades of deflation is ending.
An office of Tokio Marine & Nichido Fire Insurance in Tokyo in 2016.
BUSINESS / Companies
Dec 19, 2023
FTC inspects nonlife insurers over alleged joint contract cartel
The on-site probes follow reports the firms prearranged premiums for joint insurance contracts with corporate and public entities.
Toru Nakashima
BUSINESS / Companies
Nov 30, 2023
SMFG names deputy president as group CEO after predecessor's death
Toru Nakashima's appointment will take effect Dec. 1, Japan's second-biggest lender said.
Sumitomo Mitsui Financial Group’s CEO Jun Ohta died Saturday. He was 65.
BUSINESS / Companies
Nov 27, 2023
Sumitomo Mitsui CEO Jun Ohta, who pushed Asia expansion, dies at 65
Ohta’s well-being attracted attention when he missed an earnings briefing earlier this month, with the bank citing health reasons.
Mitsubishi UFJ Financial Group announced a $2.6 billion share buyback program after fiscal second-quarter profit tripled.
BUSINESS
Nov 14, 2023
Japan’s largest banks to buy back shares after profits soar
Japan’s biggest banks have unveiled plans to boost shareholder returns after posting record first-half profits, thanks in part to a cheaper yen.
Major banks are set to raise interest rates on time deposits amid a rise in long-term government bond yields.
BUSINESS / Companies
Nov 3, 2023
Major Japanese banks begin to raise time deposit rates
Deposit rates have been at extremely low levels for many years under the BOJ's massive monetary easing.
Four major Japanese banks have announced they will raise their 10-year fixed housing loan rates for the third consecutive month in October.
BUSINESS
Sep 30, 2023
Four major Japanese banks to raise housing loan rates in October
The hikes come as Japanese government bond yields rise after the Bank of Japan effectively raised its 10-year JGB yield cap to 1% from 0.5% in July.
LNG Japan, a joint venture owned by Sumitomo and Sojitz, have inked a deal for a stake in a giant natural gas project off Australia.
BUSINESS
Aug 9, 2023
LNG Japan inks ¥126 billion deal to join Australian gas project
The move will secure supply of a fossil fuel Japan expects will retain a key role in its energy mix.
The Financial Services Agency's headquarters in Tokyo. The agency is expected to order four major insurers to submit records of contracts for which they allegedly arranged premium levels to avoid competition.
BUSINESS
Aug 3, 2023
Japan insurers suspected of price-fixing for corporate contracts
Dozens of suspected price-fixing cases surfaced after employees were asked to report suspected antitrust business activities.
Signage for Sumitomo Mitsui Banking (right) and Mizuho Bank (center) in Tokyo. Two of Japan's mega-banks reported solid quarterly profit on Monday.
BUSINESS
Jul 31, 2023
Japan’s biggest banks beat estimates, adding to BOJ tailwind
Sumitomo Mitsui Financial Group said net income for the quarter ending June 30 was ¥248 billion, while Mizuho Financial Group’s was ¥245.2 billion.
Japan Times
BUSINESS
Jul 16, 2023
Sumitomo Mitsui executive sees AI as chance for Japan's regrowth
Surveyed employees said that AI is helpful for searching information, translating and creating documents, but also said there were limits to its use in work requiring creativity.
Japan Times
BUSINESS
Jul 5, 2023
JAL to rent clothes to passengers for vacations and business trips
Rental of each set of clothing will cost ¥4,000 to ¥7,000 and garments will be made available in three sizes: small, medium and large.
Japan Times
BUSINESS
Jun 19, 2023
Japan's financial regulator sounds out top banks about China risks
The Financial Services Agency has asked whether they have plans in place if Sino-Western tensions escalate.
No link to Nankai Trough quake seen after temblor in Shikoku
Satoshi Harada from the Meteorological Agency explains about the magnitude 6.6 earthquake during a news conference early Thursday.
Why hasn't Japan moved to prop up the weak yen?
Finance Minister Shunichi Suzuki speaks to reporters in Tokyo on Tuesday.
U.S. deploys midrange missile system in Indo-Pacific for first time
A U.S. Army Mid-Range Capability (MRC) Launcher arrives as part of the capability’s first deployment into theater on Northern Luzon, Philippines, April 8.
Snake on a train: Discovery of serpent delays Tokyo-Nagoya shinkansen
A Tokaido shinkansen. It is unclear whether the snake was venomous or how it ended up on the train, and there was no injury or panic among passengers.
Unpacking the chaotic by-election in a scandal-hit Tokyo district
People listen to a campaign speech in Tokyo's Koto Ward on Tuesday.
'House of the Owl' brings Hollywood values to Japanese TV
In the new Disney series “House of the Owl,” Min Tanaka (left) plays a powerful political fixer, or “kuromaku,” who has a troubled relationship with his adult children, particularly his idealistic son, played by Mackenyu.
Benefits and risks: AUKUS looks to take gamble on Japan
U.S. President Joe Biden, Australian Prime Minister Anthony Albanese and British leader Rishi Sunak deliver remarks on the AUKUS partnership, after a trilateral meeting, at Naval Base Point Loma in San Diego in March last year.
Kyoto’s demon night parade lives to haunt another day
In a Kyoto long past, the "hyakki yagyō" (100 demon night parade) haunted a sleepy corner of Kyoto. Now, one enterprising monster enthusiast has won a small batttle to keep the march alive.
U.S. deploys midrange missile system in Indo-Pacific for first time
A U.S. Army Mid-Range Capability (MRC) Launcher arrives as part of the capability’s first deployment into theater on Northern Luzon, Philippines, April 8.
Unpacking the chaotic by-election in a scandal-hit Tokyo district
People listen to a campaign speech in Tokyo's Koto Ward on Tuesday.

Podcast

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[Rebroadcast] Japan is doing better on accessibility than you may think

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