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Japan's top banks draw closer to art world with eye on surging market

Finance Wealthy Japanese buyers show renewed interest as hedge against inflation Sumitomo Mitsui Financial Group held an art exhibition at one of its office buildings near Tokyo Station from the end of May to mid-June. (Sumitomo Mitsui Financial Group) KENICHI ONOZAWA TOKYO -- The top three Japanese banking groups are getting more involved in art, hosting exhibitions to deepen ties with the sector and exploring ways to use art in financial services. Sumitomo Mitsui Financial Group was one of the first big Japanese banks to focus on art, launching a dedicated team in November 2021. In addition to sponsoring fairs and providing opportunities to promote art, it is supporting the management of works owned by customers.