Banks Lead the Way in Hiring Japanese New Grads (MTU)

| About: Mitsubishi UFJ (MTU) has an interesting article today on the hiring situation for new grads in Japan. I think it's safe to say the banking crisis is over and the Japanese economy is back. One question however is how about the number of graduates going on to become engineers and scientists.

"The fastest economic growth in 15 years and record profits of $27 billion in fiscal 2005 helped financial companies overtake electronics makers as the biggest recruiters at Japan's most selective universities, including the top two schools, University of Tokyo and Keio University."

Regarding Japan's three mega banks, the article noted:

"Mizuho Financial Group Inc., Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. hired about 6,200 college students to start work in April, up 48 percent from this year, spokesmen for the companies said. Lenders are adding staff after eliminating 26,000 jobs or 23 percent of the workforce between 2001 and 2005 when bad loans left the industry with losses."