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15 Feb, 2021 Author Yuzo YamaguchiRehan Ahmad
Mitsubishi UFJ Financial Group Inc. will likely continue to face higher credit risk than two other Japanese megabanks in the near term as the lender s larger international operations leave it more exposed to loan defaults in economies hit hard by the coronavirus pandemic.
MUFG, which extends more loans overseas than Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc., has reported the highest nonperforming loan ratios and loan loss provisions among the trio for at least five consecutive quarters, according to data from S&P Global Market Intelligence.
In the fiscal third quarter ended Dec. 31, 2020, MUFG s NPL rose to 1.17%, the highest in three years. The amount of nonperforming loans rose to ¥575 billion, the highest quarter on record, or about 46% of the bank s total nonperforming loans in that quarter. Sumitomo and Mizuho reported NPL ratios of
Summary
Mizuho Financial Group is roughly tied with megabank peer Sumitomo Mitsui Financial Group for the status as Japan’s second-largest bank after Mitsubishi UFJ Financial Group. As of March, Mizuho’s market share of domestic loans was 7.7%, compared with 7.1% for SMFG and 8.7% for MUFG. In Japan, Mizuho has more of a corporate focus than SMFG, which has a larger retail business. Its overseas weighting is slightly smaller than that of MUFG. Unlike its two Japanese megabank peers that own foreign banks outright or hold noncontrolling stakes in local banks overseas, Mizuho expanded in recent years beyond its traditional Japanese borrowers, mainly through its core banking and securities units, focusing on the financing needs of global multinational corporations.
Financial Giants SBI and SMFG Working on Digital Stock Exchange in Japan
Last Updated: 31 January 2021
Japan’s status as a leader in the global blockchain and crypto space has never been in doubt, with the country excelling due to its favorable regulatory landscape. Now, industry players are set to launch a new initiative to bring some of blockchain’s benefits to the traditional financial space.
All Systems Go
On Thursday, a report on the Nikkei Asia Review confirmed that two financial giants in Japan are working on launching a digital stock exchange in the country. The initiative is a collaboration between commercial bank Sumitomo Mitsui Financial Group (SMFG) and financial services giant SBI Holdings.
90 notable companies leading the way to gender parity in 2021 Details Published: 29 January 2021
Bloomberg recently revealed that 380 companies headquartered across 44 countries and regions made the list for the 2021 Bloomberg Gender-Equality Index (GEI).
According to a press release, this included firms domiciled in Indonesia and Bermuda that are reporting gender-related data for the first time.
Peter T. Grauer, Chairman of Bloomberg, noted: The companies included in this year’s Gender-Equality Index are committed to providing an inclusive work environment, supporting work-life balance and flexible work arrangements to retain a talented workforce and create a competitive advantage in this changing business environment.
Flexible work environments
Largest Single Investment Into Disability Business Inclusion As The Nippon Foundation Invests $5 Million Into The Valuable 500
USA - English
- 54 corporations announce membership of The Valuable 500, bringing total members to 415
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LONDON, Jan. 29, 2021 /PRNewswire/ Today, The Valuable 500 announces that Japan s biggest private foundation, The Nippon Foundation, is joining as Global Impact Partner and investing $5 million into the largest network of global CEOs committed to disability inclusion in business.
The largest ever single investment into disability business inclusion, it allows The Valuable 500 to launch Phase 2 of its global campaign designed to activate the community of 500 CEOs and brands for global change.