mergers & acquisitions
Sumitomo Mitsui Banking Corporation (SMBC) has further solidified its foothold in the Southeast Asian market, announcing on Monday the acquisition of an additional 4.46% equity stake in the Philippines' Rizal Commercial Banking Corporation (RCBC). The transaction, valued at PHP 6.4 billion (approx. JPY 17 billion), raises SMBC’
payments
Filippino conglomerate Ayala and Mitsubishi have executed an investment agreement for the Japanese multinational’s acquisition of a 6.5% stake in e-wallet giant GCash, according to a stock exchange filing. Mitsubishi will subscribe to 18.03 million common and redeemable preferred shares of AC Ventures Holding (ACV), which holds
economics
The SOMPO Institute Plus, the think tank of SOMPO Group, has published its quarterly outlook for the Japanese economy today. The report anticipates a continuation of moderate economic growth, driven by gradually improving real wages and solid corporate performance supporting business investment. However, external demand is expected to remain weak
remittance
BDO Unibank and Seven Bank recently reaffirmed their commitment to providing convenient and reliable remittance services to Overseas Filipinos in Japan. This partnership, initially established in 2017, leverages the strengths of two leading financial institutions from prominent Asian economies to meet the evolving needs of this significant demographic. Recognizing the