IBJ’s Nishimura has a revolutionary idea
Fuji’s plan: first restructure, then expand
In June 1989, at the height of the Japanese asset price bubble, Euromoney celebrated its 20th birthday. It accompanied this landmark with a series of predictions about the state of the financial markets in 1999. One that has seemed laughable for many of the intervening years was that Japanese banks would dominate the global banking industry. Under the headline, “the $604 billion bank”, we listed the keiretsu groupings of Sumitomo, Mitsubishi, Fuji and Dai-Ichi Kangyo, and argued that these groups would consolidate their many banking, leasing, insurance and asset management activities to become global financial hypermarkets.
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