Sony gets into a new game with launch of online bank

Article Abstract:

Sony Corp. begins virtual banking services in Japan on June 11, 2001, called Sony Bank Inc., in an alliance with Sumitomo Mitsui Banking Corp. and U.S.-based J.P. Morgan Chase & Co. Customers will be able to access their accounts through computers, cellular phones, and the automated tellers of the Sumitomo Mitsui Banking Corp. This will be Japan's second Internet-based bank, offering "Moneykit" software that caters to young, individual investors instead of corporations.

On-Line Information Services, Videotex & Teletext, Telegraph & other communications, Services introduction, All Other Information Services, Home Banking Service, Services, Internet services, Sony Corp., SNE, Home banking, Home banking services, Sony Bank Inc.

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Japan's bank write-offs are step toward a solution

Article Abstract:

The major banks of Japan are expected to announce more write-offs and restructuring plans with their earnings. The country's banks have been under pressure from domestic and international sources to implement some reforms. One analyst predicts that Japan's major lenders will have combined write-offs nearing 6.8 trillion yen in the year ending March 31.

Market information - general

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Yen gets a needed boost

Article Abstract:

Japanese officials have announced that Tokyo does not wish to weaken the yen and that action will be taken if necessary to keep it from depreciating too fast. Traders had previously caused the yen to fall rapidly, but April 5 the dollar traded at 124.37 yen in New York.

Financial analysis, Foreign Exchange Dealers, Commodity Contracts Dealing, Statistical Data Included, Prices and rates, Foreign exchange, Foreign exchange rates, Yen (Japan)

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