Japan banking: Five approaches to taking on the world
Japanese banks must go overseas to build sustainable profits, each in their own way. Nomura is streamlining global operations and applying itself in China; Daiwa wants to be a global mid-market M&A house; MUFG has bought Asean banks; Mizuho prefers organic growth; and SMBC is somewhere in between. Who’s ahead?
"The key for growth for us,” says Jun Ohta, president and chief executive of Sumitomo Mitsui Financial Group (SMBC), “is outside of Japan.”