insurtech
Mitsui Sumitomo Insurance, a subsidiary of MS&AD Insurance Group Holdings, has invested an undisclosed amount in Coalition, a U.S.-based cyber InsurTech company and a leading provider of cyber insurance with advanced cyber risk assessment technologies. MSI and Coalition have collaborated since 2022 and developed a service,
banking
The Postal Service Privatization Act requires that Japan Post Holdings dispose of its shares in Japan Post Bank and Japan Post Holdings within the earliest possible timeframe, with the aim of disposing of its shares in its entirety, in light of business conditions of the two financial companies and any
mergers & acquisitions
State Street and Mizuho Financial Group have entered into an agreement for State Street to acquire Mizuho’s global custody and related businesses outside of Japan. These businesses support the overseas investments of Mizuho’s Japanese clients. Mizuho currently operates its global custody and related business outside of Japan through
lending
CARSOME Group, Southeast Asia’s largest integrated car e-commerce platform, and JACCS (Japan Consumer Credit Service), a global consumer finance company and a member of the Mitsubishi UFJ Financial Group, announced a strategic partnership via CARSOME Capital, the financing arm of CARSOME. As part of this strategic partnership, JACCS will
wealth management
WealthNavi has revised upwards its earnings forecasts for the fiscal year ending December 31, 2024, (FY2024) which was previously announced on August 9, 2024. Note that in the interim, MUFG Bank has made a tender offer for all outstanding shares and stock acquisition rights of WealthNavi, a publicly traded robo-advisor