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February 22, 2025
 

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BANKS

Norinchukin Bank Chief Executive Officer Kazuto Oku
BUSINESS / Companies
Feb 19, 2025
Norinchukin CEO plans to resign after massive bond losses
Norinchukin reported wider losses this month as it boosted investments in riskier leveraged loans and sought additional capital.
The Bank of Japan headquarters in Tokyo
BUSINESS / Economy
Feb 18, 2025
Ex-BOJ deputy Nakaso sees BOJ hiking to 1% and perhaps beyond
His remarks come as market participants debate the likely terminal rate of the central bank’s current tightening cycle.
The three megabank groups including Mitsubishi UFJ Financial Group posted record consolidated net profits in April-December 2024.
BUSINESS / Companies
Feb 9, 2025
Japan firms to log record profits — driven by finance and AI biz
Leading the growth is the financial sector, buoyed by the return of positive interest rates to Japan thanks to the Bank of Japan's rate hikes
Seven Bank has set up ATMs with facial-recognition technology for cash deposits and withdrawals.
BUSINESS / Companies
Feb 9, 2025
Japan's Seven Bank starts ATM service using face recognition
Named Face Cash, the new service enables depositors with Seven Bank or Shizuoka Bank to make deposits and withdrawals without cash cards or smartphones.
Singapore is positioning itself as a key player in the effort to diversify supply chains away from China, leveraging its proximity to Malaysia’s Johor state.
COMMENTARY
Feb 7, 2025
Singapore finds its seat at the China+1 table
Singapore is positioning itself as a key player in the effort to diversify supply chains away from China.
The Securities and Exchange Surveillance Commission has raided locations related to a former Sumitomo Mitsui Trust Bank division manager on suspicion of violating the financial instruments and exchange law.
JAPAN / Crime & Legal
Feb 6, 2025
Sumitomo Mitsui Trust Bank worker's insider trading likely lasted years
The Securities and Exchange Surveillance Commission has raided locations related to the former employee.
MUFG Bank President Junichi Hanzawa bows in apology in Tokyo on Jan. 17 following alleged massive thefts of customer assets by a former employee.
JAPAN / Crime & Legal
Feb 5, 2025
Ex-MUFG bank worker paid interest to pawnshops to keep gold available to her
The bank worker is suspected of depositing in several pawnshops gold ingots worth several hundred million yen that she had stolen.
MUFG virtually reached its full-year profit goal with a quarter to spare, earning a record ¥1.749 trillion in the first nine months.
BUSINESS / Companies
Feb 4, 2025
MUFG profit soars in bumper earnings season for Japan banks
Japanese banks are benefiting from rising interest rates following more than a decade of ultra-easy monetary policy.
Japanese banks are enjoying bumper earnings as they begin to benefit from rising interest rates following more than a decade of ultraeasy monetary policy.
BUSINESS
Jan 30, 2025
Sumitomo Mitsui profit beats estimates as rate hikes bolster earnings
Net income at Japan’s second-largest bank rose 54% from a year earlier to ¥410.8 billion for the three months ended Dec. 31, calculations show.
The Bank of Japan's phasing out of its fund-provisioning program underscores Gov. Kazuo Ueda’s determination to slowly but steadily proceed with the normalization of policy after more than a decade of radical monetary easing.
BUSINESS
Jan 30, 2025
BOJ to shrink balance sheet by around ¥77 trillion with end of loan program
All outstanding loans from the central bank's fund-provisioning program to stimulate bank lending are expected to be wiped off its books by March 2028.
A government panel said Norinchukin Bank's huge losses stemmed from excessive investments in foreign bonds.
BUSINESS
Jan 28, 2025
Norinchukin urged to tap outside expertise and diversify portfolio after losses
A government panel has advised the bank to increase members of its board with experience in financial markets, including from outside the organization.
Hong Kong's commercial real estate sector is going through one of its worst slumps in history.
BUSINESS / Markets
Jan 27, 2025
Hong Kong’s property distress is catching up with city’s banks
Banks with soured loans and mortgages have been reluctant to sell the underlying real estate assets at a loss — but that is changing.
Mizuho's CEO Masahiro Kihara said on Wednesday that domestic corporate banking, asset and wealth management, as well as global and corporate and investment banking, would all contribute to growth.
BUSINESS / Companies
Jan 23, 2025
Mizuho head sees profit reaching ¥1 trillion in three to four years
Mizuho previously projected record annual net income of ¥820 billion for the current fiscal year, meaning the increase would require an uplift of more than 20%.
The country's net assets, or the value of properties, cash, deposits, stocks and other assets in the country minus that of loans and other debts, totaled ¥4,158.4 trillion at the end of 2023, up 4.1% from a year before, a Cabinet Office estimate showed Monday.
BUSINESS / Economy
Jan 21, 2025
Japan's national wealth hit record ¥4 quadrillion at end of 2023
Of the total, households accounted for a record ¥2.97 quadrillion, up 3.7%, marking the fifth consecutive year of growth.
Staff from Aomori Bank and Michinoku Bank, along with family members, participate in the Aomori Nebuta Festival in August 2023, with a large float sponsored by Procrea Holdings behind them.
BUSINESS / Companies / Regional Voices: Tohoku
Jan 20, 2025
Rival regional Aomori banks merge to survive amid population decline
Aomori Bank and Michinoku Bank, which had long been rivals, merged this month to form Aomori Michinoku Bank.
Mizuho Bank is the first to have stopped accepting new safe deposit box customers among the country's three megabanks.
BUSINESS / Companies
Jan 19, 2025
Mizuho stops accepting new safe deposit box applications
The major Japanese bank took the step at all outlets around the country.
MUFG Bank's Nerima branch in Tokyo, where a former employee allegedly stole customer assets from safe deposit boxes
JAPAN
Jan 16, 2025
MUFG Bank punishes execs over customer asset thefts
President Junichi Hanzawa will take a 30% cut in monthly pay for three months.
Former MUFG Bank employee Yukari Imamura, a suspect in the theft of gold ingots worth ¥260 million, leaves the Nerima Police Station in Tokyo on Wednesday.
JAPAN / Crime & Legal
Jan 15, 2025
Ex-MUFG Bank employee arrested over theft of 20 kg gold deposits
At least 60 clients have been victims of the safe deposit box thefts, with the total damage expected to exceed ¥1 billion.
The record high reflected strong corporate demand for working capital amid rising raw materials prices and the yen's weakening, as well as brisk capital investment mainly by large companies.
BUSINESS / Economy
Jan 11, 2025
Japan bank lending hits record high at end of 2024
Outstanding bank lending in Japan stood at a record high of ¥605.8 trillion at the end of 2024, up 4.4% from a year before, according to industry data.
According to Resona Bank, a glitch occurred Saturday night, making it difficult for retail customers to connect to its online banking service.
BUSINESS / Companies
Dec 31, 2024
Mizuho Bank and Resona Bank may have been hit by cyberattack
Both banks may have been hit by a distributed denial of service, in which perpetrators overload traffic by sending enormous amounts of data.
Yen advances past ¥150 per dollar as BOJ rate-hike bets ramp up
The Japanese currency climbed as much as 1% to ¥149.95 against the dollar on Thursday, a level it hasn’t touched since Dec. 9.
Japan release of Shiori Ito's documentary in limbo
Shiori Ito, who won a civil suit over a rape case against a TV reporter, in 2018. Her former lawyers claim her documentary includes footage used without the consent of sources.
Record percentage of Japanese firms plan wage hikes, survey shows
Some 61.9% of over 11,000 surveyed companies intend to pledge pay increases as part of annual wage negotiations culminating in March, according to a survey by Teikoku Databank.
Japan’s inflation speeds up, keeping BOJ on rate hike path
A customer visits a store along the Togoshi Ginza shopping street in Tokyo on Jan. 23. Rising fresh food prices contributed to the acceleration in overall inflation in January, as vegetable prices, including cabbage, soared.
Victor Wembanyama expected to miss remainder of regular season with blood clot
Spurs center Victor Wembanyama (right) is expected to miss the rest of the NBA season, the team announced on Thursday.
Japan release of Shiori Ito's documentary in limbo
Shiori Ito, who won a civil suit over a rape case against a TV reporter, in 2018. Her former lawyers claim her documentary includes footage used without the consent of sources.
Abdul Hakim Sani Brown ready to sprint past Paris disappointment
Abdul Hakim Sani Brown (center) runs during a 100-meter heat at the Paris Olympics on Aug. 3, 2024.
What is the ceiling for sumo’s newest yokozuna?
Newly promoted grand champion Hoshoryu (center) performs a dedication ceremony at Meiji Shrine in Tokyo on Jan. 31.
‘Yasuko, Songs of Days Past’ puts overlooked star in the spotlight
“Yasuko, Songs of Days Past” centers on a real-life love triangle between poet Chuya Nakahara (Taisei Kido, left), actor Yasuko Hasegawa (Suzu Hirose, center) and literary critic Hideo Kobayashi (Masaki Okada).
Japan’s English-language education doesn’t pass the test
One-third of elementary school students in Japan do not like learning English, according to a 2021 poll, an 8% rise since 2013. The pressure of taking proficiency tests is eroding children's engagement with studying English and its benefits.

Podcast

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

Longform

Tokyo Koon stands at the forefront of tackling the so-called 2025 issue, also known as the “Magnetic Tape Alert.”
The race to save 20th-century history
By Alex K.T. Martin

SUSTAINABLE JAPAN

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mission sustainability vol.14 : Unicharm Corp.Unicharm recycles diapers back into diapers

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