Citigroup Inc (C.N) on Friday told bidders for its Japanese retail banking operations that it was looking to sell its profitable Diners Club card business in Japan with the retail unit, sources with knowledge of the matter said.
Mizuho Financial Group
Citigroup Inc (C.N) is preparing to sell its Japanese retail banking operations, a source with direct knowledge of the matter said on Wednesday, as it waves the white flag on a venture plagued by regulatory troubles and anemic lending.
Mizuho Financial Group Inc will be seeing its chairman, Takashi Tsukamoto, leaving its post after its lending unit received penalties the second time within a three-month period due to loans it extended to crime groups.
Orient Corp, a Japanese consumer credit company, had been probed by authorities for lending to crime groups with Mizuho Financial Group Inc.
Sources told Reuters that Mizuho Financial Group offered to acquire a stake for Bank Panin from ANZ.
Sharp Corp announced that they are looking into ways to raise funding needed for capital investments.
Mizuho Global Alternative Investments expect assets to rise as Japanese pensions continue to demand funds.
Bids, mergers, acquisitions and disposals involving European, U.S., Canadian and Asian companies.
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