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July 16, 2024
 

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SUMITOMO

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.
The Financial Services Agency's headquarters in Tokyo. The agency is expected to order four major insurers to submit records of contracts for which they allegedly arranged premium levels to avoid competition.
BUSINESS
Aug 3, 2023
Japan insurers suspected of price-fixing for corporate contracts
Dozens of suspected price-fixing cases surfaced after employees were asked to report suspected antitrust business activities.
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.
Japan Times
BUSINESS / Economy
Apr 25, 2023
Bankers chase startups in Japan as funding dries up elsewhere
Lenders including Sumitomo Mitsui Banking and Mizuho Bank are planning to increase the staff they allocate to startup businesses.
Japan Times
BUSINESS / Companies
Apr 10, 2023
Japan's three mega-banks to face votes on climate change
Climate groups are targeting mega-banks Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group over financing linked to fossil fuels.
Japan Times
BUSINESS / Companies
Apr 3, 2023
Sumitomo Mitsui wants Wall Street bankers for U.S. expansion
The newly appointed head of the firm’s core banking unit says the downturn in the global economy will help it attract talent as it seeks to boost areas like sales and trading.
Japan Times
BUSINESS
Feb 22, 2023
Sole U.S. rare earth producer will ship to Japan in new deal that skips China
Output from the Mountain Pass mine in California has typically gone to China for processing, with Japanese companies purchasing from there.
Japan Times
BUSINESS / Companies
Feb 13, 2023
SMBC Nikko fined ¥700 million over market manipulation
The firm received an additional penalty of some ¥4.4 billion, while a former executive officer was given a suspended prison sentence.
Japan Times
BUSINESS / Companies
Feb 10, 2023
SMBC to end corporate finance for coal mining by 2040, but trade finance remains
Critics have previously pointed to the ambiguity on corporate financing, potentially providing a loophole for banks lending to pure-play coal miners.
Japan Times
BUSINESS / Companies
Feb 2, 2023
Major Japan trading house eases rules on side jobs to retain new generation
Trading houses hold an outsized influence in Japan due to their diversified business interests, and are favorites among university graduates due to their high salaries and job security.
Bloodied Trump survives assassination attempt at political rally
Former U.S. President Donald Trump is surrounded and evacuated by Secret Service agents at a campaign rally in Butler, Pennsylvania, on Saturday. Trump was rushed off stage at the rally after shots rang out.
How to beat Japan’s summer heat in ways better for the planet
Tenugui towels hang up to dry at a dyeing company in Sakai, Osaka Prefecture, on May 8. The durable and versatile tenugui, which many people have in their homes, can be used in many ways to cool one’s body.
The neurological disorder that 'kills culture'
Akiko Trush says her experience with the neurological disorder dystonia left her feeling like she wanted to chop her own hand off.
Amid same-sex marriage ban, LGBTQ couples opt for 'photo weddings'
A lesbian couple, consisting of a 35-year-old woman (left) and 40-year-old woman, cover their faces with bouquets as they pose for wedding photos in Yokohama on Nov. 1.
China and Russia conduct joint Pacific military patrol
The Russian corvette Gromkiy enters the Chinese port of Zhanjiang as part of a joint China-Russia naval exercise on Saturday.
How to beat Japan’s summer heat in ways better for the planet
Tenugui towels hang up to dry at a dyeing company in Sakai, Osaka Prefecture, on May 8. The durable and versatile tenugui, which many people have in their homes, can be used in many ways to cool one’s body.
After Trump shooting, U.S. presidential race might take a violent turn
United States Secret Service Counter Snipers stand guard on a rooftop during a campaign rally for U.S. President Donald Trump in Avoca, Pennsylvania, in 2020.
No AC this summer? No problem (for me).
Think air conditioning is a requirement for a Tokyo summer? Think again.
She’s paying ¥1 million to help behind the scenes at the Paris Olympics
Mai Tarumi, who previously volunteered at the postponed Tokyo Olympics in 2021, has a travel budget of ¥1 million for her trip to volunteer at the Paris Games.
How to tweak your diet when temperatures spike
Most people think of hydration as a strictly liquid-based concept, but eating foods with high water content is an essential part of making it through a Japanese summer unscathed.

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Longform

Akiko Trush says her experience with the neurological disorder dystonia left her feeling like she wanted to chop her own hand off.
The neurological disorder that 'kills culture'
By Tomoko Otake

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