Latest Sumitomo Mitsui Stories

Sumitomo Mitsui Financial Group, Japan's second-largest bank, agreed to buy two Citigroup Japanese units for $5.56 billion, the U.S. institution said Friday. Citigroup said it will sell its brokerage and investment divisions to help raise capital ahead of the U.S. government's release of its so-called stress test of Citigroup's financial health, The New York Times reported. The total transaction, in which Sumitomo Mitsui will buy holdings held by Citigroup and loans held by Nikko Corp., is...

Tokyo, Sept. 24 (Jiji Press)--Japan's Sumitomo Mitsui Financial Group Inc. is considering investing in U.S. investment bank Goldman Sachs Group Inc., informed sources said Wednesday. Goldman has unofficially approached the Japanese banking group, the sources said. Sumitomo's investment is expected to surpass 100 billion yen. Sumitomo and Goldman have already been in an alliance. Sumitomo Bank, which is now part of Sumitomo Mitsui Banking Corp., once invested some 500 million dollars in...