Articles

  • 20 hours ago | news.bloombergtax.com | Taiga Uranaka |Hideki Suzuki

    XYour Choices Regarding Cookies and IdentifiersWe and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.

  • 21 hours ago | bloomberg.com | Taiga Uranaka |Hideki Suzuki

    Signage for Sumitomo Mitsui Banking Corp. (Bloomberg) -- Sumitomo Mitsui Financial Group Inc. is shoring its buffers to prepare for Donald Trump’s trade war, even as it forecast another year of record profit. Japan’s second-largest lender expects net income to climb about 10% to ¥1.3 trillion ($8.8 billion) in the year started April, it said on Wednesday.

  • 22 hours ago | news.bloomberglaw.com | Taiga Uranaka |Hideki Suzuki

    Sumitomo Mitsui Financial Group Inc. forecast another year of record profit, signaling the Japanese bank is confident it will withstand the fallout from Donald Trump’s trade war. Japan’s second-largest lender expects net income of ¥1.3 trillion ($8.8 billion) for the year started in April, up about 10% from last year’s record ¥1.18 trillion, it said on Wednesday. The projection compares with the ¥1.37 trillion average of 13 analyst estimates compiled by Bloomberg.

  • 1 month ago | japantimes.co.jp | Taiga Uranaka |Hideki Suzuki

    The veteran head of markets at one of Japan’s largest banks sees the potential for the central bank to raise benchmark interest rates to a three-decade high of 2% if economic trends persist. The Bank of Japan is likely to increase the policy rate to 1% this year from the current 0.5% as long as the U.S. economy doesn’t falter, said Masamichi Koike, head of Sumitomo Mitsui Financial Group's global markets business.

  • 1 month ago | japantimes.co.jp | Alastair Marsh |Hideki Suzuki

    Mitsubishi UFJ Financial Group quit the banking industry’s largest climate alliance, joining domestic peers in walking away from a group abandoned by U.S. and Canadian heavyweights. Japan’s biggest lender has withdrawn from the Net-Zero Banking Alliance (NZBA), a spokesperson said Wednesday, confirming an earlier Bloomberg News report. MUFG will continue to work diligently on addressing climate change, the bank said.

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