Softbank Corp. may sell part of its stake in Aozora Bank, raising the possibility of a tussle should a leading stake fall into foreign hands, Aozora Bank President Hiroshi Maruyama said Wednesday.
"It is exceedingly sad," Maruyama said. "(Talks of the sale) have created uncertainty among customers, and are not a plus to the bank.
"There was an unspoken understanding (between the government and the industry) that domestic forces would dominate in Aozora, since Shinsei Bank was going to foreign hands," he said at a news conference held to report the bank's earnings results for fiscal 2001, indicating his disapproval of foreign investors buying out Softbank's stake.