Citigroup completes sale of Japanese brokerage in $8.7 billion dealOctober 1st, 2009 Citigroup closes $8.7B sale of Japanese brokerageTOKYO — Citigroup Inc. has completed the sale of its Japanese brokerage to Sumitomo Mitsui Banking Corp.
Chola Insurance to target Japanese, Korean firms for businessAugust 4th, 2009 CHENNAI - Non-life insurer Cholamandalam MS General Insurance (Chola MS), a joint venture between city-based Murugappa Group and Japan's Mitsui Sumitomo Insurance Group, Tuesday said it will continue targeting Korean and Japanese firms operating in India for selling its products. "Our strategy in India will be to expand the retail business, bring the technical knowhow in risk management from Japan to the country and train Chola MS employees in Japan and Singapore," Toshiaki Egashira, president and chief executive of Mistsui Sumitomo Insurance, told reporters here.
MOL, Sical sign MoU for auto yard management JV at EnnoreAugust 4th, 2009 CHENNAI - Sical Logistics Ltd, India's leading provider of multi-modal integrated solutions for the logistics of bulk and containerized cargo, today announced that it has signed a Memorandum of Understanding with Japan's Mitsui O.S.K. Lines Ltd. (MOL) to operate the automotives management yard at Ennore Port, near Chennai.
Citigroup sells entire stake in Nikko Asset Management for $795M to Sumitomo TrustJuly 30th, 2009 Citigroup sells stake in Japanese asset managerNEW YORK — Citigroup Inc. said Thursday it is selling its entire majority stake in a Japanese asset management company to The Sumitomo Trust and Banking Co Ltd.
Japan megabank Sumitomo Mitsui's net profit up 25 percent in April-June as stock markets climbJuly 30th, 2009 Sumitomo Mitsui profit jumps 25 percentTOKYO — Major Japanese bank Sumitomo Mitsui Financial Group Inc. booked a 25 percent jump in quarterly profit as climbing stock prices and a slowly improving economy bolstered its bottom line.
Citigroup sells NikkoCitu Trust to Nomura Trust in scale back of Japan businessJuly 1st, 2009 Citigroup sells NikkoCiti Trust to Nomura TrustTOKYO — Nomura Trust and Banking Co. is acquiring NikkoCiti Trust and Banking Corp.
Citibank Japan cited for inadequate anti-money laundering measures, hit with sales suspensionJune 26th, 2009 Agency slaps Citibank Japan with sales suspensionTOKYO — Authorities ordered Citibank's Japan unit to suspend all sales operations at its retail banking arm for one month after it failed to improve anti-money laundering measures that target crime syndicates and other shadowy groups. The order Friday is the second time in five years that the Financial Services Agency has reprimanded Citibank Japan Ltd.
Mitsubishi UFJ to boost acquisition of Morgan Stanley's common stockMay 13th, 2009 Mitsubishi UFJ boosts swap of Morgan Stanley stockTOKYO — Japan's biggest bank, Mitsubishi UFJ Financial Group Inc., said Wednesday it will swap a larger amount of its preferred shares in Morgan Stanley for common stock to keep its voting rights stake of the U.S. bank above 20 percent.
Leahy to return $1,000 Citigroup campaign donationMay 9th, 2009 Leahy to return Citigroup donationBURLINGTON, Vt. — Sen. Patrick Leahy, D-Vt., will return a $1,000 campaign donation from Citigroup, the banking giant that has received $45 billion in federal bailout money.
Report: Citigroup may need to raise $10 billion in extra capital to meet new gov't standardsMay 2nd, 2009 Report: Citigroup may need $10B in extra capitalNEW YORK — Citigroup Inc. may need to raise as much as $10 billion to meet the government's increased capital standards for banks outlined in its stress tests, according to a report.
Sumitomo Mitsui to buy Citigroup's Japan brokerage unitMay 1st, 2009 Sumitomo Mitsui, Citigroup reach deal on brokerageTOKYO — Sumitomo Mitsui is taking over Citigroup's Japan brokerage businesses, both sides said Friday, as part of a bigger plan to restructure the struggling U.S. bank. Sumitomo Mitsui Financial Group Inc.
Banking group Sumitomo Mitsui to buy Citigroup's Japan brokerage unit for $5.6 billionMay 1st, 2009 Sumitomo Mitsui to buy brokerage from CitigroupTOKYO — Sumitomo Mitsui is taking over Citigroup's Japan brokerage businesses, both sides said Friday, as part of a bigger plan to restructure the struggling U.S. bank. The deal is Japan's first acquisition of a leading brokerage by a bank.
Report: Sumitomo Mitsui at basic agreement to buy Citigroup brokerage unitsApril 28th, 2009 Report: Sumitomo Mitsui, Citigroup near dealTOKYO — Major Japanese bank Sumitomo Mitsui Financial Group Inc. has reached a basic agreement to buy a Japan-based brokerage unit from Citigroup Inc.
Japan's No. 2 bank Mizuho Financial expects first annual net loss in 6 yearsApril 23rd, 2009 Japan's Mizuho Financial forecasts annual net lossTOKYO — Mizuho Financial Group Inc., Japan's second-biggest bank, warned Thursday that it sank into the red last fiscal year amid mounting bad loans and steep stock market declines. The Tokyo-based lender slashed its earnings guidance for the 12 months through March 31, saying it expects a group net loss of 580 billion yen ($5.9 billion) — its first annual loss in six years.
Citigroup posts losses, lower than expected, in Q1April 17th, 2009 NEW YORK - US banking giant Citigroup reported Friday it lost $966 million in the first quarter of 2009, better than analysts' projections. Citigroup had lost $5.1 billion in the first quarter of 2008.
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