Taiga's Feed
Apr 2, 2014

Another Japan nuclear operator turns to government for aid

TOKYO (Reuters) – Japan’s Kyushu Electric Power Co has become the second nuclear generator to seek state support this week as reactors across the country remain idled and industry losses mount three years after the Fukushima nuclear disaster.

Kyushu Electric, a regional monopoly that supplies power in southern Japan, said on Wednesday it was in talks with state-owned Development Bank of Japan for financial backing. On Tuesday, a source said Hokkaido Electric Power Co, which supplies Japan’s northernmost island, had asked the same bank for financial assistance.

Apr 1, 2014

Second Japan nuclear operator seeks government bailout

TOKYO, April 1 (Reuters) – Japan’s Hokkaido Electric Power
Co, facing a third year of financial losses, is seeking
a capital infusion from a state-owned lender, a source with
knowledge of the matter said on Tuesday.

If successful, Hokkaido Electric would be the second nuclear
operator to receive a government bailout since the Fukushima
crisis in 2011. Japanese media earlier reported that the utility
will get the bailout.

Mar 31, 2014

Japan mega banks must help regional peers lend abroad -new banking head

TOKYO, April 1 (Reuters) – Japan’s biggest banks must do
more to involve smaller peers when seeking partners to finance
overseas projects, to support a regional banking sector facing
an uncertain future without a wider pool of borrowers, Japan’s
new banking head said.

Many of Japan’s more than 100 local banks have long been
stuffed with deposits but starved of loan customers caused by
two decades of economic stagnation – a state the government, in
office since December 2012, has promised to end.

Mar 25, 2014

RBS in contact with SMFG over Citizens sale; MUFG mulls bid: sources

LONDON/TOKYO (Reuters) – Royal Bank of Scotland (RBS.L: Quote, Profile, Research, Stock Buzz) has had contact regarding the possible sale of its U.S. retail business Citizens with Sumitomo Mitsui Financial Group (8316.T: Quote, Profile, Research, Stock Buzz) while Mitsubishi UFJ Financial Group (8306.T: Quote, Profile, Research, Stock Buzz) has also considered a bid, people with knowledge of the matter said.

RBS, which is 81 percent owned by the British government, said in November it would speed up a planned stock market flotation of Citizens in New York, aiming to start the process in the second half of 2014 and to fully sell the business by the end of 2016.

Mar 24, 2014

Japanese banks to invest in $3 billion CVC Asia private equity fund

HONG KONG (Reuters) – Japan Bank for International Cooperation (JBIC) and Sumitomo Mitsui Trust Bank said they have agreed to invest in CVC Capital Partners Ltd’s CVC.UL fourth Asian fund, which is seeking to raise around $3 billion.

The agreement is the first investment in a traditional private equity buyout fund for JBIC, and comes as Japanese banks and insurers increasingly look overseas for opportunities as they battle slow growth in their home markets.

Mar 13, 2014

Japan regional bank chief urges takeovers to secure future

TOKYO (Reuters) – Japan has too many regional banks, and they must consider consolidating in order to prosper as the nation’s population shrinks and deposits dwindle, a top regional banker said.

“Thinking long term, population decline is the biggest challenge,” said Masaaki Tani, chairman of the Regional Banks Association of Japan, which represents 64 of the 100 regional institutions.

Mar 4, 2014

Japan’s regional banks are urged to merge

TOKYO (Reuters) – Japanese regulators are increasing the pressure on regional banks to consolidate, worried that shrinking populations outside the nation’s major cities will leave lenders too weak to stand on their own.

After direct prodding from the head of the Financial Services Agency (FSA) for the more than 100 regional banks to slim down through mergers or takeovers, the regulator has set up meetings with regional bank presidents to grill them on their long-term business plans.

Mar 3, 2014

With too few borrowers, Japan’s regional banks are urged to merge

TOKYO (Reuters) – Japanese regulators are increasing the pressure on regional banks to consolidate, worried that shrinking populations outside the nation’s major cities will leave lenders too weak to stand on their own.

After direct prodding from the head of the Financial Services Agency (FSA) for the more than 100 regional banks to slim down through mergers or takeovers, the regulator has set up meetings with regional bank presidents to grill them on their long-term business plans.

Feb 3, 2014

Japan’s top three banks poised to benefit from spurt in domestic loan growth

TOKYO (Reuters) – Japan’s biggest banks, flush with cash from a year-long stock market rally, are poised to benefit this year from a spurt in loan growth at home fuelled by the economic stimulus measures of Prime Minister Shinzo Abe.

Mitsubishi UFJ Financial Group Inc (8306.T: Quote, Profile, Research, Stock Buzz), Mizuho Financial Group Inc (8411.T: Quote, Profile, Research, Stock Buzz) and Mitsui Sumitomo Financial Group Inc (8316.T: Quote, Profile, Research, Stock Buzz) all booked increased lending in the latest quarter, in a business that contracted before “Abenomics” kicked in at the beginning of 2013.

Feb 2, 2014

Japan’s Mizuho ups dividend, but Basel may dim megabank shareholder hopes

TOKYO, Feb 3 (Reuters) – Mizuho Financial Group is
raising its dividend payout as profits surge and other big
Japanese banks may follow suit, but the benefits to shareholders
may be short-lived.

Likely stricter capital rules in coming years may curb the
ability of Japan’s biggest banks to return more of the bounty to
investors.