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November 22, 2024
 

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BANKS

People walk near the entrance of the venue of the United Nations climate change conference COP29, in Baku, Azerbaijan, on Monday.
BUSINESS / Economy
Nov 20, 2024
Development banks seek private money for climate change fight
Development banks committed to increasing their lending to poorer countries to $120 billion a year by 2030.
Kazuto Oku in Tokyo on Tuesday
BUSINESS / Economy
Nov 19, 2024
Norinchukin loss to exceed $9.7 billion as bank dumps foreign bonds
Traders and investors are closely watching how Norinchukin plans to reallocate its $304 billion investment portfolio.
Japan’s megabanks have resumed trading activities with Nomura Holdings, people with knowledge of the matter said.
BUSINESS / Companies
Nov 18, 2024
Nomura's trading clients return after market manipulation probe
Many of the firms returned to Nomura after the brokerage explained measures it is taking to prevent a recurrence of the breach, sources said.
Mizuho Financial CEO Masahiro Kihara during a news conference in Tokyo on Nov. 14
BUSINESS / Companies
Nov 14, 2024
Japan’s biggest banks raise profit goals, unveil buybacks
Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group now project a combined ¥3.7 trillion ($24 billion) in profit this fiscal year.
Rakuten's sale of 15% stake in its credit card arm to Mizuho Financial Group would give the e-commerce pioneer a one-time gain of ¥159.4 billion in the current quarter.
BUSINESS / Companies
Nov 14, 2024
Rakuten sells Mizuho 15% of credit card arm for ¥165 billion
The sale would give the e-commerce pioneer a one-time gain of ¥159.4 billion in the current quarter, Rakuten said in a statement Wednesday.
John Tierney is replacing Jonathan Lewis as CEO of Nomura Europe Holdings and Nomura International, the bank’s key European subsidiaries, according to a statement Tuesday.
BUSINESS / Companies
Nov 13, 2024
Nomura changes course on top European banker after eight months
Nomura has come under pressure to improve its operations since Japanese regulators found that one of its traders had manipulated the market for government bonds.
Asian banks are shifting focus from trade financing to wealth management and capital markets to offset potential losses from U.S. tariffs and capitalize on growing regional and global wealth.
COMMENTARY / World
Nov 13, 2024
The wealthy will shield Asian banks from Trump tariffs
Asian banks are shifting focus from trade financing to wealth management and capital markets to offset potential losses from U.S. tariff.
For Seven Bank, greater independence from its parent Seven & I Holdings could lead to new growth opportunities.
BUSINESS / Companies
Nov 11, 2024
Seven Bank seeks to expand cash-machine network beyond 7-Elevens
Deconsolidation from Seven & I resulting from a reduction of its stake in Seven Bank would make such a scenario more possible.
A sign outside JP Morgan Chase & Co. offices in New York in 2021
BUSINESS
Nov 11, 2024
JPMorgan braces for ‘impactful’ first two years of Trump
Optimism has been high that Donald Trump’s pro-growth promises, built around tax cuts and deregulation, will unlock another round of gains in the economy.
Yasushi Itagaki, head of MUFG’s global commercial banking business, says the banking group aims to push up its buyouts and investment in India, and increase annual returns from them to 20% in 10 years.
BUSINESS / Companies
Nov 11, 2024
MUFG seeks acquisitions in India to drive growth, targeting 20% returns
Japan's largest lender is competing with a slew of global peers to expand in the world’s fastest-growing major economy.
A trader shows off a shirt featuring U.S. President-elect Donald Trump on the floor of the New York Stock Exchange in New York City on Wednesday.
BUSINESS / Markets
Nov 9, 2024
Wall Street drafts Trump wish lists over bank capital and SEC regulation
Numerous financial trade groups are working on detailed lists to hand to Trump's transition team, according to four industry sources.
Tomoki Arai, head of markets at Bank of Yokohama
BUSINESS / Companies
Nov 8, 2024
Bank of Yokohama weighs Japan bond comeback with more rate hikes to come
More financial institutions are weighing a return to local debt after years of investing abroad.
Seven & I Holdings' 46% stake in Seven Bank could raise around ¥30 billion by the end of the current fiscal year in February.
BUSINESS / Companies
Nov 6, 2024
Seven & I is said to plan reducing stake in banking unit to 38%
The retailer’s 46% stake in Seven Bank could raise around ¥30 billion by the end of the current fiscal year in February.
The vote of confidence in Masaso Kanda, former Japanese vice finance minister for international affairs, will be taken over a period of a month from Monday.
BUSINESS / Economy
Oct 24, 2024
Masato Kanda, former top currency diplomat, sole candidate to head ADB
A vote of confidence in 59-year-old Kanda, who was recommended by the Japanese government, will be taken over the course of a month from Monday.
The headquarters of HSBC in the Canary Wharf financial district in London
BUSINESS / Companies
Oct 23, 2024
HSBC revamp by new CEO Elhedery stumps staffers and investors alike
The firm's new CEO just unveiled the biggest overhaul of the company in at least a decade, but it was missing some key details for employees and investors.
At least 10 firms have temporarily suspended some business activities with Nomura because of its market manipulation scandal.
BUSINESS / Companies
Oct 18, 2024
Big clients halt trades with Nomura over market manipulation scandal
At least 10 firms have temporarily suspended some business activities with Japan's biggest brokerage because of the breach.
The average fee to send $200 from Japan is the highest among G7 countries at 6.94%, according to World Bank data for the first quarter of 2024.
BUSINESS
Oct 17, 2024
Wise becomes first foreign firm to gain direct access to Japan's payment clearing network
The move could put pressure on banks including megabanks and smaller players in the competitive market for remittances.
People walk along a street during morning rush hour near the Financial Street in Beijing on Oct. 8.
BUSINESS
Oct 16, 2024
Chinese finance professionals switch careers amid industry crackdown
The tightening scrutiny of trading, financing and dealmaking in China has brought pay and job cuts.
As banking's behemoths gather at the COP16 summit, there is much talk about monetizing nature and biodiversity.
BUSINESS / Companies
Oct 15, 2024
Global banks want to monetize biodiversity
Opportunities to invest in funds that target biodiversity are currently limited
Toshinori Yashiki, a senior official at the Financial Services Agency, says the regulator will examine Japanese megabanks’ lending to private equity and other funds in the U.S. for risk management.
BUSINESS / Companies
Oct 15, 2024
Japan regulator to scrutinize megabanks’ lending to U.S. funds
The nation's largest banks are increasing what is known as subscription finance and lending to funds that provide equity or credit to private companies.
Two of America’s biggest debt holders are dumping Treasurys
The U.S. Treasury building in Washington. Investors in Japan and China sold a pile of U.S. debt in the last quarter, just before the U.S. presidential election.
Ishiba aggravates his own political failures with diplomatic faux pas
Prime Minster Shigeru Ishiba is greeted at the APEC summit in Lima by Canadian Prime Minister Justin Trudeau on Friday. The Japanese leader was criticized for remaining seated while meeting several world leaders at the event.
Japan's 3.31 million visitors in October set monthly record
Kiyomizu Temple in Kyoto in December 2023. Famous autumn leaf colors contributed to increased tourism demand last month from many markets across Asia, Europe and North America, the Japan National Tourism Organization has said.
Japan ranks last in romance satisfaction for second straight year
In a survey of 31 countries, Japan ranked last in terms of those who felt loved, with just 51% of respondents saying so.
Ruling coalition and DPP strike last-minute deal over economic policy
DPP policy chief Makoto Mahaguchi speaks at the party's policy gathering in Tokyo on Wednesday.
Japan, U.K. and Italy discuss inviting more countries to joint fighter project
A new concept model of a next-generation fighter jet to be jointly developed by Japan, Britain and Italy is on display in Farnborough, Hampshire, in July.
Haruki Murakami's 'The City and Its Uncertain Walls' gives deep deja vu
For “The City and Its Uncertain Walls,” translated into English by Philip Gabriel, Haruki Murakami confronts the ghosts who won't leave him alone.
Japanese expats in Asia find community through rugby
The Taiwan Fivewoods celebrate their victory at the 2023 Asian Japanese Rugby Cup in December of last year.
In Fukushima, a weekend of prose, poetry and translation
Aomori-based writer JJ Carter presented on tabletop gaming as creative inspiration for building characters and narratives.
For Dr. Nakamats, aging is just experience in action
Though he didn't win the recent gubernatorial election in Tokyo, the 96-year-old Dr. Nakamats' run was seen as inspirational in Japan's aging society.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo’s Shinjuku Ward.
Kabukicho: Tokyo’s ‘stadium of desire’

Longform

Construction takes place on the Takanawa Gateway Convention Center in Tokyo, slated to open in 2025.
A boom for business tourism in Japan?
By Kathryn Wortley

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