Yuki Nakamura

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Articles

Japan's Sakana AI worth $1.5bn in latest megabank fund raise

Sep 17, 2024 | asia.nikkei.com | Yuki Nakamura

TOKYO -- Just over a year since it was co-founded by former Google researchers, Tokyo-based Sakana AI has been valued at $1.5 billion in the latest fundraising round involving three Japanese megabanks and other companies, according to a person familiar with the matter. Ten top-tier Japanese companies will invest around 10 billion yen ($71 million) in Sakana AI after its Series A funding, according to reliable sources.
Japan's Sakana AI to raise $70m from megabanks, manufacturers

Sep 17, 2024 | asia.nikkei.com | Yuki Nakamura

TOKYO -- Japan's three megabanks, other financial institutions, electronics manufacturers and a trading company will invest a total of around 10 billion yen ($71 million) in Sakana AI, a startup that was co-founded by former Google researchers and recently secured funding from U.S. chipmaker Nvidia, Nikkei has learned. The new investors from the financial sector include Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corp.
MUFG to pause talks on investing in Indian nonbank

Sep 12, 2024 | asia.nikkei.com | Yuki Nakamura

TOKYO -- Japan's Mitsubishi UFJ Financial Group will halt talks on acquiring shares in a nonbank financial company under India's HDFC Bank after an apparent failure to agree on the terms of a deal, Nikkei has learned. Japan's largest financial group had proposed investing 200 billion to 300 billion yen ($1.4 billion to $2.1 billion) to acquire around a 20% stake in HDB Financial Services.
Japan's MUFG Bank to enter electricity futures market in October

Aug 29, 2024 | asia.nikkei.com | Yuki Nakamura

TOKYO -- MUFG Bank in October will become Japan's first leading bank to start handling electricity futures transactions on the Tokyo Commodity Exchange, a move that could help breathe new life into a currently sluggish market. The bank has received the necessary approval from the Tokyo Commodity Exchange, which is part of the Japan Exchange Group. Companies approved as traders in electricity futures include brokerages such as Nissan Securities and Phillip Securities Japan.
Japan's MUFG Bank to invest additional $330m in India's DMI Finance

Aug 22, 2024 | asia.nikkei.com | Yuki Nakamura

TOKYO -- Japan's MUFG Bank announced on Thursday that it will invest an additional 27.9 billion rupees ($332 million) in Indian nonbank DMI Finance, aiming to spur the company's continued growth in online loans. MUFG Bank's ownership stake in the nonbank after the investment was not disclosed. DMI will apparently not become an equity method affiliate.
MUFG sheds $1bn in U.S. Bancorp shares

Aug 20, 2024 | asia.nikkei.com | Yuki Nakamura

TOKYO -- Mitsubishi UFJ Financial Group has sold 24 million shares of American regional bank U.S. Bancorp (USB) on the market, the Japanese company said Tuesday, for an amount expected to reach $1 billion based on the current stock price. MUFG believes the financial anxiety that followed the 2023 collapse of Silicon Valley Bank in the U.S. has subsided, and so the group aims to improve capital efficiency by releasing the additional funds it injected into USB that year.
Japan's SMFG lifts Jefferies stake to boost investment banking ops

Aug 13, 2024 | asia.nikkei.com | Yuki Nakamura

TOKYO -- Japan's Sumitomo Mitsui Financial Group has more than doubled its stake in U.S.-based Jefferies Financial Group, looking to catch up with domestic rivals in the investment banking business. SMFG now owns 10.9% of Jefferies, the American firm announced on Monday. This is up from the 4.5% stake the Japanese group initially purchased under a 2021 agreement.
MUFG to invest $393m in Philippine mobile payment leader Mynt

Aug 1, 2024 | asia.nikkei.com | Yuki Nakamura

TOKYO -- Mitsubishi UFJ Financial Group is set to invest $393 million in Globe Fintech Innovations, a leading Philippine mobile payments operator better known as Mynt, as it expands its foothold in Asia's booming digital financial market, Nikkei has learned. The financial group's MUFG Bank will acquire nearly 10% of GFI through third-party allotment and purchases from existing shareholders. A MUFG executive will sit on the GFI board and deepen cooperation in digital finance.
Japan's top credit card company to launch travel booking site with Hopper

Jul 10, 2024 | asia.nikkei.com | Yuki Nakamura

TOKYO -- Sumitomo Mitsui Card, Japan's leading credit card company, plans to start a travel booking platform as it expands the services offered to customers, Nikkei has learned. Sumitomo Mitsui Card recently made a deal with Canadian firm Hopper Technology Solutions to establish the booking website, slated to go live next year.
MUFG to invest $195m in Thai mobile payment service under CP Group

Jun 25, 2024 | asia.nikkei.com | Yuki Nakamura

TOKYO -- Mitsubishi UFJ Financial Group will invest $195 million in Thai mobile payments operator Ascend Money through local subsidiary Bank of Ayudhya, which operates under the brand name Krungsri, eyeing cooperation in personal finance. MUFG and Ayudhya will invest jointly in Ascend, which is affiliated with Thai retail and telecommunications conglomerate Charoen Pokphand (CP) Group, for around a 10% stake.