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TYO:8316

24 stories mentioning TYO:8316Updated 9d ago

Every FINWIRES story that references TYO:8316, newest first.

Asia

Market Chatter: Japan to Hold Urgent Meeting with Megabanks, BOJ, TSE Chief Over Anthropic's Mythos AI Risks

Finance Minister Satsuki Katayama will meet on Friday with Japan's three largest lenders - Mitsubishi UFJ (8306), Sumitomo Mitsui (8316), and Mizuho (8411)- to discuss risks related to Anthropic's AI model Mythos, Bloomberg News reported on Wednesday.Bank of Japan Governor Kazuo Ueda and Japan Exchange Group (TYO:8697) CEO Hiromi Yamaji are also expected to attend, the news wire said, citing people familiar with the matter.Katayama told reporters on Wednesday that the discussion will begin with sharing assessments of the situation and exchanging views on issues raised in the US and concerns across the international financial community, the publication said.The meeting follows global regulators' response to cybersecurity flaws exposed by Mythos, which has had only a limited release, with Katayama warning that malicious actors could exploit its power, the report said.Mythos, Anthropic's newest model under its Claude AI system, is reportedly capable of outperforming humans at certain hacking and cybersecurity tasks, according to various reports.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:8306TYO:8316TYO:8411TYO:8697
Asia

Market Chatter: Japanese Banks Expand Overseas Payment Services to Support Global Operations of Domestic Firms

Japan's major banks are strengthening cross-border payment services to support the global operations of domestic firms, Nikkei Asia reported on Thursday.Mitsubishi UFJ Financial's (TYO:8306) MUFG Bank launched MUFG Unity for instant remittances in four Southeast Asian countries, allowing corporate clients to settle directly with local partners without opening foreign accounts, the publication said.Sumitomo Mitsui Financial's (TYO:8316) Sumitomo Mitsui Banking aims to accumulate $60 billion in foreign currency deposits within three years and plans to launch its SMBC Connect payment brand soon, the news agency said.Mizuho Financial's (TYO:8411) Mizuho Bank is expanding its Asian transaction banking team to 180 specialists and acquiring Avendus Capital to tap into non-Japanese client demand, the report said.With foreign-currency loans surging 160% since 2010 to $926 billion, Japanese banks are prioritizing dollar procurement amid geopolitical uncertainty and past low domestic interest rates, it added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:8306TYO:8316TYO:8411
Asia

Market Chatter: Sumitomo Mitsui Partners with Neuberger Berman to Launch 500 Billion Yen Fund for Japanese M&As

Sumitomo Mitsui Financial's (TYO:8316) Sumitomo Mitsui Banking is partnering with U.S. asset manager Neuberger Berman to launch an investment vehicle that will extend financing to Japanese firms pursuing acquisitions, Nikkei reported on Monday.The fund is slated for launch as soon as June, with plans to expand its capital to 100 billion yen or $627 million within one year and ultimately reach 500 billion yen over five years, the news daily said.Neuberger Berman will secure capital from institutional investors both at home and abroad, while also identifying potential merger and acquisition targets among Sumitomo Mitsui Banking's client base, the publication said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:8316
Asia

Market Chatter: SoftBank Introduces AI Company with NEC, Honda, Sony as Investors

SoftBank Group (TYO:9984) has launched a new company focused on developing artificial intelligence in Japan, with investments from NEC (TYO:6701), Honda Motor (TYO:7267), and six other firms, Nikkei Asia reported on Monday.The Japanese government is evaluating potential support for the initiative. The venture aims to create a foundational model for "physical AI" to enable autonomous control of robots and machinery through a collaborative public-private effort, the news daily said.Additional investors include Sony Group (TYO:6758), Mitsubishi UFJ Financial's (TYO:8306) MUFG Bank, Sumitomo Mitsui Banking Corp. (TYO:8316), Mizuho Bank (TYO:8411), Nippon Steel (TYO:5401), Kobe Steel (TYO:5406), and AI developer Preferred Networks will also assist in building the model.Softbank Group did not reply to MTNewswire queries at press time.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:5401TYO:5406TYO:6701TYO:6758TYO:7267TYO:8306TYO:8316TYO:8411TYO:9984

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