Latest news with #Japan-related
Yomiuri Shimbun
13 hours ago
- Yomiuri Shimbun
Japan's Princess Kako Meets 1st-Generation Japanese Brazilians in Southern Brazil
The Yomiuri Shimbun Princess Kako shakes hands and speaks with Shime Nakamura in Foz do Iguacu, Brazil, on Saturday FOZ DO IGUACU, Brazil — Princess Kako, the second daughter of Crown Prince Akishino and Crown Princess Kiko, met local Japanese Brazilian residents and senior officials from Japan-related organizations in Foz do Iguacu, southern Brazil, on Saturday afternoon. The princess, who is currently visiting Brazil, met with people including Shime Nakamura, 98, a first-generation Brazilian Japanese from Kumamoto Prefecture. She emigrated in 1953 with her husband and two children to a town located by the Amazon River in northern Brazil where she worked as a farmer. She later moved to Iguacu where she grew vegetables and worked as a tour guide until she was 88. When she spoke to the princess, Nakamura, who still cooks her own meals, told her: 'Japanese food is the most delicious.' The princess held her hand and said, 'please stay in good health.' A wakaiko drum performance was also given by fourth-generation Japanese Brazilians and others. 'It was a very dynamic and powerful performance,' the princess said, thanking the performers. Visit to Iguaz Falls Kentaro Tominaga / The Yomiuri Shimbun Princess Kako, right, watches Iguazu Falls on Sunday in Brazil. On Sunday, Princess Kako visited Iguazu Falls, where she learned from an official at Iguazu National Park about its nature conservation and surveillance work against illegal logging. The schedule for her visit to Brazil was completed that day. She left from Sao Paulo on a civil aircraft and was due to arrive at Narita Airport on Tuesday afternoon.
Japan Times
29-03-2025
- Business
- Japan Times
Citigroup hiring dealmakers in Japan with fee pool seen reviving
Citigroup is expanding its investment banking team in Japan as the Wall Street firm bets that the country's deal fee pool will finally rebound after a two-decade slump. Japan was one of the few countries selected by the New York headquarters as key for dealmaking, where the firm wants to make strategic investments including hiring bankers involved with merger advisory and securities underwriting, Masuo Fukuda, head of Citigroup's investment banking business in Tokyo, said in an interview. The plan is to grow the team by 15%, he said though declined to give actual numbers. "Our global head was convinced,' Fukuda said, referring to Citigroup's head of banking and executive vice chair Vis Raghavan. "I gave them all the reasons, logics and data set, and they felt this is a change.' The optimism reflects gradual change in a country reviving after decades of struggling with deflation and a weak stock market since its asset bubble burst in the early 1990s. Companies are paying more attention to shareholder returns due to pressure from authorities and investors, spurring opportunities for investment banks to advise on mergers and acquisitions, capital raisings and buyouts that create value. That has also sparked a scramble among firms to hire bankers. Citigroup's expansion in Japan comes as the U.S. bank undergoes a broad yearslong restructuring that it initially anticipated would cull 20,000 jobs globally. CEO Jane Fraser is trying to streamline the sprawling lender's operations and lift profitability. Still, while Japan's share in the global fee pool for the investment banking business could expand from last year's estimated levels of around 4%, a big surge isn't expected, Fukuda said. "Five percent plus is possible' this year or next, though it will be hard for Japan's share to rebound to levels of 10% to 15% from two decades ago, said Fukuda, who joined Citigroup in 2022 after more than a decade of stints at Evercore, Mizuho Financial Group and SMBC Nikko Securities. Fukuda, who is also the vice chairperson of Citigroup Global Markets Japan, said the hiring in Tokyo started in December targeting various levels of bankers. "Hopefully we can finish it by the middle of this year,' he said. The local securities unit had 900 employees at the end of 2023, based on filings, outnumbering most other non-Japanese rivals. Dealmakers in the country are anticipating a busier 2025 after more than $230 billion in mergers and acquisitions last year. The wave of transactions has pushed Citigroup to sixth position for Japan-related merger advisory so far in 2025, after it ended below the top ten slot last year, according to data compiled by Bloomberg. The bank is involved with some of Japan's largest deals, including Bain Capital's purchase of a stake in a Japanese supermarket company from Seven & I Holdings.
Yahoo
28-03-2025
- Business
- Yahoo
Citigroup Hiring Dealmakers in Japan With Fee Pool Seen Reviving
(Bloomberg) -- Citigroup Inc. is expanding its investment banking team in Japan as the Wall Street firm bets that the country's deal fee pool will finally rebound after a two-decade slump. They Built a Secret Apartment in a Mall. Now the Mall Is Dying. Why Did the Government Declare War on My Adorable Tiny Truck? How SUVs Are Making Traffic Worse Trump Slashed International Aid. Geneva Is Feeling the Impact. These US Bridges Face High Risk of Catastrophic Ship Strikes Japan was one of the few countries selected by the New York headquarters as key for dealmaking, where the firm wants to make strategic investments including hiring bankers involved with merger advisory and securities underwriting, Masuo Fukuda, head of Citigroup's investment banking business in Tokyo, said in an interview. The plan is to grow the team by 15%, he said though declined to give actual numbers. 'Our global head was convinced,' Fukuda said, referring to Citigroup's head of banking and executive vice chair Vis Raghavan. 'I gave them all the reasons, logics and data set, and they felt this is a change.' The optimism reflects gradual change in a country reviving after decades of struggling with deflation and a weak stock market since its asset bubble burst in the early 1990s. Companies are paying more attention to shareholder returns due to pressure from authorities and investors, spurring opportunities for investment banks to advise on mergers and acquisitions, capital raisings and buyouts that create value. That has also sparked a scramble among firms to hire bankers. Citigroup's expansion in Japan comes as the US bank undergoes a broad years-long restructuring that it initially anticipated would cull 20,000 jobs globally. Chief Executive Officer Jane Fraser is trying to streamline the sprawling lender's operations and lift profitability. Still, while Japan's share in the global fee pool for the investment banking business could expand from last year's estimated levels of around 4%, a big surge isn't expected, Fukuda said. 'Five percent plus is possible' this year or next, though it will be hard for Japan's share to rebound to levels of 10% to 15% from two decades ago, said Fukuda, who joined Citigroup in 2022 after more than a decade of stints at Evercore Inc., Mizuho Financial Group Inc. and SMBC Nikko Securities Inc. Fukuda, who is also the vice-chairman of Citigroup Global Markets Japan Inc., said the hiring in Tokyo started in December targeting various levels of bankers. 'Hopefully we can finish it by the middle of this year,' he said. The local securities unit had 900 employees at the end of 2023, based on filings, outnumbering most other non-Japanese rivals. Dealmakers in the country are anticipating a busier 2025 after more than $230 billion in mergers and acquisitions last year. The wave of transactions has pushed Citigroup to sixth position for Japan-related merger advisory so far in 2025, after it ended below the top ten slot last year, according to data compiled by Bloomberg. The bank is involved with some of Japan's largest deals, including Bain Capital's purchase of a stake in a Japanese supermarket company from Seven & i Holdings Co. Business Schools Are Back Google Is Searching for an Answer to ChatGPT A New 'China Shock' Is Destroying Jobs Around the World The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending? How TD Became America's Most Convenient Bank for Money Launderers ©2025 Bloomberg L.P. Sign in to access your portfolio
Reuters
17-02-2025
- Business
- Reuters
Indonesia's INA, Japan's DBJ launch hybrid fund for mid-sized businesses
Feb 17 (Reuters) - Indonesia Investment Authority (INA), the country's first sovereign wealth fund, and the Development Bank of Japan (DBJ) have launched a hybrid fund to provide financing for medium-sized businesses in Indonesia. The fund will focus on senior secured investments, offering tailored financing solutions to mid and upper-market corporates while providing resources for businesses to scale in a sustainable manner, the two companies said in a joint statement on Monday. Hybrid capital solutions, which use debt and equity to address the capital requirements of businesses, have been gaining momentum across the Asia-Pacific region as an alternative to traditional financing. Indonesian President Prabowo Subianto has pledged to increase the country's economic growth from its current rate of 5% to 8% annually by 2029. INA will leverage its local market understanding and structured financing capability, while DBJ will bring its finance and investment experience and Japan-related business networks to generate private sector investment in the largest economy in Southeast Asia. The companies did not disclose the financial terms of the deal. Nikkei previously reported that the fund is valued at $60 million. Indonesia plans to launch a second sovereign wealth fund named Danantara Indonesia on February 24, which aims to manage assets exceeding $900 billion. The country has emerged as a crucial market for several Japanese financial institutions in Southeast Asia, including DBJ, to expand their businesses in the country. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here.
