Market forces: In takeover battle, Japan sees fruits of banking reform

Article Abstract:

Struggling Japanese bank UFJ Holdings Inc. has turned down an acquisition offer from Sumitomo Mitsui Financial Group Inc. in favor of a counteroffer from Mitsubishi Tokyo Financial Group. In addition, UFJ has refused even to consider a re-negotiated offer from Sumitomo Mitsui. In response, Sumitomo Mitsui is considering the launch of hostile takeover. Such competitive activity is new in an industry that used to be heavily monitored by government bureacrats.

Commercial Banks, Legal issues & crime, Strategy & planning, Acquisitions & mergers, Government regulation (cont), Government regulation, Executive changes & profiles, Legal/Government Regulation, Industry Overview, Analysis, Planning, Officials and employees, Company legal issue, Cases, Laws, regulations and rules, Mergers, acquisitions and divestments, Company acquisition/merger, Acquisitions and mergers, Investigations, Bank mergers, Political aspects, Corporate culture, Investor relations, Company business planning, Business-government relations, Hostile takeovers, Sumitomo Mitsui Financial Group Inc., UFJ Holdings Inc., Mitsubishi Tokyo Financial Group Inc., 8307, Takenaka, Heizo, Nishikawa, Yoshifumi

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Japan's Takenaka sets strict goals

Article Abstract:

Japan's new banking and economic policy minister, Heizo Takenaka, must work to solve the country's large-scale bad loan problem among its banks. Takenaka has promised to solve the problem within a year and a half.

Personal credit institutions, Nondepository Credit Intermediation, Lending Services, Loans

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Japan moves to bail out bank

Article Abstract:

Resona Holdings will obtain $17 billion in government funding because its ratio of capital to assets has decreased to less than the 4% requirement.

Company Profile, Resona Holdings Inc.

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