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JAPAN FOCUS |
“The key for growth for us,” says Jun Ohta, president and chief executive of Sumitomo Mitsui Financial Group (SMBC), “is outside of Japan.”
He’s not alone. All five of the biggest financial services groups in Japan – the three megabanks plus Nomura and Daiwa – have long since realized that the dismal macro and demographic backdrop in Japan means that if they want to seek profits, they must go overseas.
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