Japan
Japan’s Norinchukin reports profit loss of $2.75b in Q1
Japan’s Norinchukin reports profit loss of $2.75b in Q1
It attributed the loss to low-yielding asset sales, part of its portfolio improvement efforts.
Higher profits propel Mizuho’s net income to 44% rise in Q1
Credit-related costs fell 28.7% during the first three months of FY2024.
Japan’s Concordia FG sees strong loan growth and improving profits
Its strong franchise base in Kanagawa Prefecture is an advantage.
MUFG, subsidiaries submits business improvement plans to authorities
MUFG also apologised to its customers and stakeholders.
Growing fees, higher rates lift Sumitomo Mitsui Trust Bank’s profits
SMTH’s low-risk asset portfolio meant that profitability is weak.
MUFG hires ex-UBS, SVB directors for healthcare finance arm
The hires strengthen MUFG’s middle market healthcare businesses.
Norinchukin’s planned foreign bond divestment will hurt profits
The bank has about $13.63b (JPY2.25) in unrealized losses.
Japan’s Norinchukin Bank has hit 60% of its sustainable finance target
The bank also participated in 7 sustainability committee meetings in FY2023.
Japan’s SMFG issues new shares worth $23.89m
The move is part of its stock compensation plans.
MUFG Bank invests in sustainable aviation fuel company
LanzaJet is reportedly planning to build SAF manufacturing plants in Japan.
Nomura Holdings amends securities and financial reports
The amendments correct classification errors in its cash flow statements.
Mizuho appoints Yuta Hayashi as new group executive officer
Hayashi is also now the managing executive officer of Mizuho Bank.
Basel III to improve Japanese major financial groups’ profits
However, risk-weighted assets for the four FIs are expected to rise.
Mizuho reports 60% emissions cut, allocates $195b for sustainable finance
The bank now employs 1,650 sustainability management experts.
Mizuho and Lombard Odier ink sustainability alliance agreement
Lombard Odier will act as a strategic advisor and consulting partner to Mizuho.
MUFG issues apology after authorities recommend administrative action
Its two companies were accused of inappropriately sharing data between them.
Japan’s SMBC and Asuene to offer decarbonisation management solutions
SMBC and Asuene floated plans to expand globally.
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