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Dec 13, 2012

Japan’s MUFG to buy 20 percent of VietinBank for $720 million

TOKYO (Reuters) – Japan’s Bank of Tokyo-Mitsubishi UFJ plans to buy 20 percent of VietinBank CTG.HM from the Vietnamese government for about 60 billion yen ($720 million), a source close to the deal said, as Japan’s cash-rich big banks expand into fast-growing Southeast Asian markets.

The deal by the core retail and commercial bank of Mitsubishi UFJ Financial Group Inc (MUFG) (8306.T: Quote, Profile, Research, Stock Buzz) for a stake in Vietnam’s second-largest partly private lender will mean all three of Japan’s megabanks have a stake in Vietnam’s wobbly banking sector.

Dec 13, 2012

Japan’s MUFG to buy 20 pct of VietinBank for $720 mln

TOKYO, Dec 13 (Reuters) – Japan’s Bank of Tokyo-Mitsubishi
UFJ plans to buy 20 percent of VietinBank from the
Vietnamese government for about 60 billion yen ($720 million), a
source close to the deal said, as Japan’s cash-rich big banks
expand into fast-growing Southeast Asian markets.

The deal by the core retail and commercial bank of
Mitsubishi UFJ Financial Group Inc (MUFG) for a stake
in Vietnam’s second-largest partly private lender will mean all
three of Japan’s megabanks have a stake in Vietnam’s wobbly
banking sector.

Dec 6, 2012

Japan insurers shortlisted for Indonesia Panin Life stake-sources

TOKYO/JAKARTA, Dec 6 (Reuters) – Japan’s Dai-ichi Life
Insurance Co Ltd and Fukoku Mutual Life Insurance Co
are among the companies shortlisted to buy a minority stake in
Indonesia’s Panin Life for about $200 million, sources said.

Controlled by Indonesia’s powerful Gunawan family, PT Panin
Financial is planning to sell an up to 40 percent
stake in its life insurance unit. The shortlisted firms have
been asked to submit binding bids by the end of this month, said
the sources, who had direct knowledge of the deal.

Nov 29, 2012

MUFG, CIMB submit offers for GE’s $1.5 billion Thai bank stake: sources

By Taiga Uranaka and Saeed Azhar

(Reuters) – Japan’s biggest bank, Mitsubishi UFJ Financial Group (8306.T: Quote, Profile, Research, Stock Buzz), is among the first round bidders for General Electric’s (GE.N: Quote, Profile, Research, Stock Buzz) $1.5 billion stake in Thailand’s fifth-largest lender, Bank of Ayudhya BAY.BK, sources told Reuters on Thursday.

Suitors of GE’s Thai bank stake are seeking a foothold in one of Asia’s fastest growing economies. They are expected to seek full control of the bank, which is also Thailand’s No. 1 retail bank with a $5.9 billion market value.

Nov 29, 2012

MUFG, CIMB submit offers for GE’s $1.5 bln Thai bank stake-sources

Nov 29 (Reuters) – Japan’s biggest bank, Mitsubishi UFJ
Financial Group, is among the first round bidders for
General Electric’s $1.5 billion stake in Thailand’s
fifth-largest lender, Bank of Ayudhya, sources told
Reuters on Thursday.

Suitors of GE’s Thai bank stake are seeking a foothold in
one of Asia’s fastest growing economies. They are expected to
seek full control of the bank, which is also Thailand’s No. 1
retail bank with a $5.9 billion market value.

Nov 14, 2012

Japanese bank balance sheets saddled with heavy equity losses

TOKYO, Nov 14 (Reuters) – Japan’s three mega banks posted
earnings that were dragged down by heavy losses on their equity
portfolios, renewing investor concerns about the practice of
lenders holding stakes in clients including the country’s
money-losing electronics makers.

Combined stock-related losses at Mitsubishi UFJ Financial
Group (MUFG), Mizuho Financial Group and
Sumitomo Mitsui Financial Group (SMFG) more than
tripled in April-September from a year earlier as the benchmark
Nikkei average declined 12 percent over the six-month period.

Nov 9, 2012

Japan’s big banks expand into global aircraft financing, leasing

TOKYO (Reuters) – Cash-rich Japanese banks are rushing into aircraft finance in the hope of getting fatter profit margins than straight corporate loans.

Banks including Sumitomo Mitsui Financial Group Inc (SMFG) (8316.T: Quote, Profile, Research, Stock Buzz) and Mitsubishi UFJ Financial Group Inc (8306.T: Quote, Profile, Research, Stock Buzz) are also venturing into aircraft leasing as more airlines opt out of owning fleets in favor of leaner balance sheets.

Sep 7, 2012

Banks hammer out Sharp refinancing before Hon Hai deal – sources

TOKYO (Reuters) – Banks are hammering out a refinancing plan for embattled Sharp Corp (6753.T: Quote, Profile, Research) without waiting for Hon Hai Precision Industry Co Ltd (2317.TW: Quote, Profile, Research) to lend a helping hand through a stalled equity investment, sources at the lenders said.

A floor under its finances would ease the pressure on Sharp to accept an agreement that would make Hon Hai its largest shareholder and give it a say in its management. The pressure will now come from banks eager to see the century-old Japanese firm return to profit through deep cost cuts and improved productivity.

Sep 7, 2012

Banks hammer out Sharp refinancing without Hon Hai deal-sources

TOKYO, Sept 7 (Reuters) – Banks are hammering out a
refinancing plan for Sharp Corp without waiting for Hon
Hai Precision Industry Co Ltd to agree to buy a stake
in its struggling Japanese partner, sources at the lenders said,
as talks between the Apple Inc suppliers pause.

Mizuho Financial Group Inc and Mitsubishi UFJ
Financial Group Inc are aiming to arrange financing of
as much as 300 billion yen ($3.8 billion) for Sharp by as early
Sept. 20 in return for cost-cutting pledges and asset sales, two
sources told Reuters on condition they were not identified.

Jul 31, 2012

MUFG profit plunges, while Mizuho surges in Q1

TOKYO, July 31 (Reuters) – Mitsubishi UFJ Financial Group
on Tuesday reported a 64 percent decline in its
financial first quarter, hurt by impairment losses on its stock
portfolio and the effect of a hefty one-time gain from its stake
in Morgan Stanley booked a year earlier.

Japan’s largest bank by assets and its rivals suffered sharp
falls in the value of their equity holding in a market slump
during the April-June period. The big banks, following
traditional Japanese business practice, hold massive portfolios
of their clients’ stock.