TOKYO, Dec 9 (Reuters) – Japanese financial
authorities are set to take punitive action against a Citigroup
unit, accusing its employees of trying to influence a
short-term interest rate benchmark, three sources familiar with
the matter said on Friday.
The move would be a new headache for the U.S. financial
giant, with sources also saying last week that it is under
scrutiny for a separate matter.
TOKYO, Nov 29 (Reuters) – More and more financial
industry executives are finding themselves out of jobs as the
global economy lurches into a slowdown, but for bankers in
charge of overseas loans at Japan’s SMBC things couldn’t be
better at work.
Flush with liquidity, Sumitomo Mitsui Banking Corp (SMBC)
and Japan’s other top banks are seeing a surge in loan requests
and billions of dollars worth of asset-sale offers as European
rivals scramble to trim balance sheets and reduce lending to
weather the region’s deepening debt crisis.
TOKYO (Reuters) – The ex-CEO of Japan’s disgraced Olympus Corp arrived on Friday for a boardroom showdown with the directors who had sacked him, as the firm’s share price leapt on hopes he could play a role in putting a huge accounting scandal behind it.
Michael Woodford, still an Olympus director despite being fired as CEO a month ago and blowing the whistle over the scandal, made a rock-star entrance at Olympus headquarters, pushing past reporters and TV crews to enter the building.
TOKYO, Nov 21 (Reuters) – The head of Japan’s Aozora
Bank (8304.T: Quote, Profile, Research) said he would consider the acquisition of a rival
or even the sale of Aozora as among “strategic options to
enhance corporate value” as it explores ways to pay back $2.3
billion in public money.
“I have to consider everything, whatever enhances our
corporate value to allow me to come closer to paying back the
government,” said Aozora CEO Brian Prince said in an interview
with Reuters on Monday.
TOKYO, Nov 17 (Reuters) – The former CEO of Olympus
Corp, whose suspicions over dubious accounting
triggered a scandal at the camera and medical equipment maker,
will return to Japan next week to meet with police and
authorities investigating the case.
“I’ll arrive on Wednesday afternoon,” Michael Woodford told
Reuters by telephone, adding he expected the Japanese
authorities to ensure his safety while in the country. Woodford
fled Japan after being fired on Oct. 14.
TOKYO, Nov 17 (Reuters) – Olympus Corp’s
biggest shareholder, Nippon Life Insurance, has reduced its
stake in the 92-year-old Japanese firm which is now battling to
keep the support of its lenders and survive a massive accounting
Nippon Life has cut its holding to 5.11 percent from 8.18
percent, a document filed with regulators on Thursday showed.
TOKYO (Reuters) – Olympus Corp’s creditors are not expected to demand changes in loan terms or take other abrupt steps and risk hurting their own interests when they meet company executives on Wednesday to grill them about the firm’s huge accounting scandal, sources and analysts said.
Japan’s securities watchdog, police and prosecutors are probing the 92-year-old camera and endoscope maker in a joint effort after Olympus admitted last week that it had hid investment losses for decades using funds from M&A deals.
TOKYO (Reuters) – Mizuho will cut 3,000 jobs as Japanese banks battle weak demand for credit at home and a tough global growth environment, which saw half-year profits at the lender and smaller rival Sumitomo Mitsui fall by a quarter.
Mizuho Financial Group said it plans to axe the jobs, about 5 percent of its workforce, by March 2016 through merging its corporate and retail banking units. First-half profits at Japan’s No. 2 lender by assets slid, as the previous year’s bond trading gains slowed.
TOKYO, Nov 14 (Reuters) – Mizuho will cut 3,000 jobs as
Japanese banks battle weak demand for credit at home and a tough
global growth environment, which saw half-year profits at the
lender and smaller rival Sumitomo Mitsui fall by a quarter.
Mizuho Financial Group said it plans to axe the
jobs, about 5 percent of its workforce, by March 2016 through
merging its corporate and retail banking units. First-half
profits at Japan’s No. 2 lender by assets slid, as the previous
year’s bond trading gains slowed.
TOKYO (Reuters) – Shares in Olympus Corp rose by the maximum allowed on Monday on signs the scandal-hit maker of cameras and endoscopes may escape having its shares de-listed.
A source familiar with the case said on Sunday that Japan’s securities watchdog may only recommend a fine against the company, while proposing criminal charges be sought against the individuals behind dubious M&A deals used to cover up its massive investment losses.