Awards for excellence – Japan

Best bank:

not awarded

Best equity house:

Nikko Salomon Smith Barney

Best debt house:

Mizuho

Best M&A house:

Goldman Sachs

With a banking sector in as dire a state as Japan’s, no bank deserves the best bank award. Banks that are strong in one area are fundamentally flawed in others. And big doesn’t equate to best.

Mitsubishi Tokyo Financial Group appears to be dealing with its bad assets but it posted an impressive loss of over ¥120 billion ($968 million). Sumitomo Mitsui has profit streams but many remain unsure about its non-performing loans.