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A five-point catch-up on Japan’s big banks as some of them struggle to keep up with the times:

Around 3,000 Mizuho Bank ATMs shut down after card-eating glitch | NIPPON TV NEWS 24 JAPAN
Around 3,000 Mizuho Bank ATMs shut down after card-eating glitch | NIPPON TV NEWS 24 JAPAN
  • Japan’s big banks have a ¥4.6 trillion problem: how to sell stakes in their most important clients without losing their business, Jiji reports. The practice of cross-shareholdings is largely unique to Japan, where it emerged after the war to cement ties with friendly firms and keep aggressive shareholders at bay. And while most stakes have since been offloaded, stubborn holdouts remain.
  • Sixteen Japanese banks say they refrain from investing in and extending loans to companies involved in the manufacturing of nuclear weapons and delivery systems, according to a survey last year by Kyodo. Japan’s three megabanks are among the 16, but although investing and loans are ruled out, not all financial dealings with such firms are specifically prohibited, Kyodo reports.
  • The Financial Services Agency plans to allow banks to target ad sales using their customer data as part of moves to ease curbs on the banking industry, Jiji has reported. The FSA will allow banks to use info on their users’ account activities and credit card histories so they can sell firms space on their websites for ads targeting specific demographics and purchasing habits, sources say.

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