Cathay United Bank to make its debut in Japan with Tokyo branch

It plans to assist Taiwanese companies expanding in the market.

Cathay United Bank has received approval from Japan’s Financial Supervisory Commission (FSC) to establish a branch in Tokyo and a sub-branch in Fukuoka City.

In a statement, the bank said that it will provide Taiwanese companies with cross-border financial services, and will support businesses expanding in the Northeastern Asian market.

This marks Cathay United Bank’s debut in the Japanese market. Once established, the Bank will have 70 overseas business locations across 13 regions worldwide.

Cathay United Bank expects the expansion to boost its capacity to provide cross-border services, aligning with its vision to forge strategic partnerships between Taiwanese and Japanese businesses.

The bank noted Japan as an economic powerhouses in Asia, possessing strong sovereign ratings, cutting-edge industry technologies, and stable corporate performance, and enabling it to become a major driving force behind the region's economic development. Its capital city, Tokyo, is a political and financial hub where government agencies and international companies are heavily concentrated.

“Coupled with extensive infrastructure and a highly efficient operating environment, the prefecture is the primary choice for many Taiwanese businesses establishing regional headquarters,” it said in a press release.

Taiwanese businesses' demand for Japanese products and services have reportedly grown. Recognizing the rise in Taiwanese investment in Japan, Cathay United Bank plans to base its Japanese operations in Tokyo and further expand its market presence by establishing sub-branches.