Japan’s banks, insurers speed up sales of strategic shareholdings

Finance

Measure to lift capital efficiency gets boost from soaring stock prices

Japan’s three megabanks — Sumitomo Mitsui Financial Group, Mitsubishi UFJ Financial Group and Mizuho Financial Group — are reducing their strategic shareholdings. (Photo by Nanami Sato)

TOKYO — Japanese financial institutions are accelerating the sale of their strategic shareholdings and reaping huge profits thanks to the country’s soaring stock prices, with market players looking to how these banks and insurance companies will use the funds.