Fri, Sep. 12, 6:43 AM
- As banks weigh in their bids for Citigroup's (NYSE:C) Japanese retail banking operations, the U.S. bank announced that it was looking to sell its Japanese Diners Club card business along with the unit.
- Citigroup's Japanese retail business has some 3.6T yen ($33.6B) in deposits, of which almost 2T yen is dollar-denominated, attracting Japanese banks seeking foreign currencies.
- Ten banks, including Mitsubishi UFJ Financial (NYSE:MTU), Mizuho Financial (NYSE:MFG), Sumitomo Mitsui Financial (NYSE:SMFG), Resona (OTCPK:RSNHF), Sumitomo Mitsui Trust (OTCPK:SUTNY) and Shinsei Bank (OTCPK:SKLKY) have all submitted preliminary bids.
Fri, Jan. 31, 3:45 AM
Oct. 28, 2013, 8:24 AM
- President Yasuhiro Sato will go six months without pay and parent company chairman Takashi Tsukamoto will step down as chairman of the bank unit - Mizuho Bank (while also losing a half year's salary).
- The company also outlined measures such as database sharing and the addition of an outside director to prevent further dealings with yakuza crime groups.
- MFG +2.5% in Tokyo overnight.
Jun. 4, 2013, 9:11 AM
Mar. 27, 2013, 8:28 PMJapanese stocks trade lower as global markets await the scheduled reopening of banks in Cyprus. The Nikkei Average lost 0.3% to 12,457 with banks and autos among the weak spots: Mizuho Financial Group (MFG -1%), Sumitomo Mitsui Financial Group (SMFG -1.2%), and Shinsei Bank (SKLKY.PK -0.9%), Honda (HMC -0.8%), Mazda (MZDAY.PK -1.8%), and Toyota (TM -0.65%) and Nissan (NSANY.PK -0.5%). | 1 Comment
Jan. 8, 2013, 7:58 PMJapanese stocks extend their losses again today, as further gains for the yen hit exporters and overnight losses in the U.S. weighed on the overall market. The Nikkei Average is currently down 0.6% at 10,445: Sharp (SHCAY.PK -2.4%), Suzuki Motor (SZKMY.PK -2.3%), Honda (HMC -2.7%), and Mazda (MZDAY.PK -3.5%), Sony (SNE -1.8%). Mitsubishi UFJ Financial Group (MTU -1.7%), Mizuho Financial Group (MFG -1.9%), and Nomura Holdings (NMR -2.1%). | 1 Comment
Oct. 12, 2012, 3:29 AMSoftbank (SFTBF.PK) is in negotiations with three major Japanese banks - Mizuho (MFG), Sumitomo Mitsui (SMFG) and Mitsubishi UFJ (MTU) - about borrowing $23B to fund its bid for Sprint (S), Reuters reports. While Sprint is worth $17.3B, it also carries almost $15B of debt. Japanese investors have reacted with dismay to news of the talks, with Softbank's shares closing -17%. | 9 Comments
Feb. 28, 2012, 7:15 PM
Feb. 22, 2012, 7:26 PM
Feb. 1, 2012, 7:47 PMJapanese shares are higher today on the back of strength in the U.S. markets overnight, but due to technical problems on the exchange, many shares have been left temporarily untraded. The Nikkei Average is currently up +0.8% to 8,884, with banks and auto makers among the leading gainers: Toyota (TM +2.7%), Honda (HMC +2.9%), Nomura (NMR +6.8%), Daiwa (DWA +3.7%), Mitsubishi UFJ (MTU +2%) and Mizuho (MFG +2%). | 1 Comment
Jan. 17, 2012, 8:59 AMWell-capitalized banks, the near-record strength of the yen, and few avenues of growth at home mean Sumitomo's (SMFG) purchase of RBS's aircraft-leasing business might be the first of several European asset acquisitions by Japanese banks. Also, taking a close look at the stream of potential deals flowing through boardrooms is Mizuho Financial (MFG). | Comment!
Jan. 10, 2012, 7:29 PM
Jan. 6, 2012, 6:29 AM
Jan. 5, 2012, 11:00 AMThe IMF is conducting stress tests on Japanese banks to measure how they might fare with a drop in value of their massive JGB holdings. Of late, the IMF has joined the "widowmaker" trade, warning of the nosebleed levels of Japanese bond prices and the vulnerability of government finances should yields rise. Current 10-year yield: 0.985%. | 1 Comment
Dec. 27, 2011, 11:02 AMMizuho Financial (MFG) says it's open to buying Asian assets put up for sale by European banks as part of their desperate efforts to raise capital, but isn't interested in acquiring their Euro assets. The Japanese bank isn't merely worried about Europe's macro problems, but also about the potential for the yen/dollar swap market to freeze up during a crisis, the way it did following Lehman Brothers' collapse. | Comment!
Dec. 21, 2011, 7:52 PM
MFG vs. ETF Alternatives
Mizuho Financial Group Inc engages in banking, trust banking, securities and other businesses related to financial services. It provides financial products and services in relation to deposits, lending and exchange settlement.
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