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November 22, 2024
 

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SUMITOMO

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.
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.
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.
Japan Times
BUSINESS / Women at Work
Jun 13, 2023
From Japan to the U.S. and back: Thriving as a woman in international finance
Chikako Matsumoto achieved her dream of joining the World Bank, and later returned to her home country and executive roles there.
Japan Times
BUSINESS / Companies
May 15, 2023
Japan's top banks expect solid profits, MUFG sees record year
Sumitomo Mitsui Financial Group and Mizuho Financial Group, Japan's second- and third-largest lenders by assets, also expect their highest net profits since the mid 2010s.
Japan Times
BUSINESS / Companies
May 2, 2023
The inside story of Buffett’s big Japan bet, over glasses of Coke at Four Seasons
The billionaire investor's visit is seen as an important vote of confidence in Japan’s big five traders as they pivot away from fossil fuels.
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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