Sumitomo Mitsui Banking eyes stake in Aozora Bank. (Upfront).... IN BRIEF: Sumitomo Mitsui Banking is thinking of buying all of the approximately 49 percent stake that Softbank holds in Aozora Bank Aozora Bank, Ltd. (株式会社あおぞら銀行 , formerly Nippon Credit Bank, the Japanese media reported. If the purchase were made, Sumitomo Mitsui would turn Aozora Bank into a de facto [Latin, In fact.] In fact, in deed, actually. This phrase is used to characterize an officer, a government, a past action, or a state of affairs that must be accepted for all practical purposes, but is illegal or illegitimate. subsidiary of Sumitomo Mitsui Financial Group Sumitomo Mitsui Financial Group (株式会社三井住友フィナンシャルグループ , a holding company it established on December 2. ... COMMENTARY: Masayoshi Son, president of Softbank, has publicly protested against the Financial Services Agency The Financial Services Agency is a Japanese government organization responsible for overseeing banking, securities and exchange, and insurance in order to ensure the stability of the financial system of Japan. The agency reports to the Minister of Financial Services. , which apparently is worried about the possibility that a foreign buyout fund would become a major shareholder of Aozora Bank. According to the Japanese media, the Cerberus Group, a major US buyout fund, and GE Capital have expressed interest in purchasing a capital stake. Financially troubled Softbank has been trying to sell its shares. |
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