|Bid||2,465.00 x 0|
|Ask||2,466.00 x 0|
|Day's Range||2,445.00 - 2,478.00|
|52 Week Range||2,075.00 - 2,814.00|
|Beta (5Y Monthly)||1.43|
|PE Ratio (TTM)||12.25|
|Forward Dividend & Yield||95.00 (3.88%)|
|Ex-Dividend Date||Sep 27, 2019|
|1y Target Est||N/A|
(Bloomberg) -- Japanese financial conglomerate SBI Holdings Inc. anticipates a flood of money from yield-starved regional banks that need help reinvesting cash after redeeming government bonds.A year-old SBI unit that invests on behalf of local banks should see assets at least doubling to 300 billion yen ($2.7 billion) this year, said Tomoya Asakura, an executive at the Tokyo-based group. “We are seeing very strong demand,” he said in an interview.Japan’s 100-plus regional banks have been hit by diminishing returns from their domestic securities portfolios after unprecedented monetary easing caused long-term interest rates to tumble. Yields on Japanese government bonds, which used to make up the bulk of their assets, are now negative through 10-year tenors, forcing the lenders to look elsewhere for returns.And the headache for local banks is only getting worse. About 15 trillion yen, or 40%, of their JGBs and local government notes as of March 2019 are set to mature within three years, Financial Services Agency figures show.Because many regional lenders don’t have the in-house expertise to pick and manage assets such as overseas bonds, Asakura expects more to seek outside professionals to manage their securities portfolios. Nordic real estate-backed securities and U.S. municipal bonds are among the assets SBI is eyeing, he said.“They didn’t have to take risks in the past, but now they do,” said Asakura, who heads SBI’s asset management operations. “It’s a great business opportunity for us.”Asset management is just one way SBI is deepening ties with regional banks. The Tokyo-based firm has been taking stakes in some lenders to help them deal with issues such as pressure on business stemming from the shrinking population.Read how SBI is plowing money into struggling regional banksSBI Regional Revitalization Asset Management Co., the unit that handles local lenders’ investments, started operations in January 2019 and has 13 employees. It currently manages money for 37 regional lenders, which are also shareholders in the unit, including Aomori Bank Ltd. and Yamaguchi Financial Group Inc.Other firms including All Nippon Asset Management Co. have also started exclusively targeting local banks.“There is a sense of urgency especially among small banks that something has to be done,” Asakura said.To contact the reporters on this story: Taiga Uranaka in Tokyo at email@example.com;Yuki Hagiwara in Tokyo at firstname.lastname@example.orgTo contact the editors responsible for this story: Marcus Wright at email@example.com, Russell WardFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Japanese internet banking giant SBI Holdings Inc and Fukushima Bank Ltd will form a capital and strategic tie-up, with SBI taking a 17.91% stake in the regional lender, the companies said on Monday. Fukushima Bank will issue new shares to SBI for 222 yen each for a total investment of 1.11 billion yen ($10.17 million), making it the biggest shareholder in the lender. The two financial companies will jointly establish offices where SBI's products such as investment trust and insurance are provided to Fukushima Bank's customers, while the companies will also develop new fintech-focused services, they said.
Japanese firm SBI Holdings is set to begin paying out dividends to its shareholders in the form of Ripple's XRP in September. And XRP fans are excited.
SBI Ripple Asia, a subsidiary of Japanese financial giant SBI Holdings, is testing out in-store payments using its MoneyTap app. The money transfer app will be used for live payments at affiliated merchants, kicking off at a restaurant at SBI Group’s headquarters in Roppongi, Tokyo. A public launch is scheduled “within the year,” a press release notes. Available for both iOS and Android devices, MoneyTap allows funds to be sent using recipients’ telephone numbers or a QR code, and taps biometrics for security. It launched last year and bypasses domestic payment rails to allow settlement of payment flows over the RippleNet blockchain network using the latter’s xCurrent product. The post SBI Ripple Asia announces MoneyTap powered in-store payments trial appeared first on Coin Rivet.
March 6 (Reuters) - N2N Connect : * ENTERS MOU WITH SBI HOLDINGS TO SET OUT GENERAL UNDERSTANDING OF COMPANY & SBI’S INTENDED ENGAGEMENT IN A JV IN THE ASIA PACIFIC REGION * N2N & SBI TO JOINTLY ESTABLISH ...