Banks in Japan

Banks in Japan

There are more than 400 banks in Japan. Meanwhile to control the nation’s money supply and serve as a lender Japan established a central bank in 1882. Also, today the central bank is known as the Bank of Japan. 
The country has licenses for Municipal, Regional, and Trust Banks to operate.
Banks in Japan consist of:

Check the List of Top 10 Banks in Japan

  1. Mitsubishi UFJ Financial Group
  2. Japan Post Bank Co., Ltd.
  3. Mizuho Financial Group
  4. Sumitomo Mitsui Financial Group
  5. Norinchukin Bank
  6. Resona Holdings
  7. Fukuoka Financial Group
  8. Chiba Bank
  9. Bank of Yokohama/Concordia Financial Group
  10. Hokuhoku Financial Group, Inc.

Banks in Japan

Mitsubishi UFJ Financial Group

The Mitsubishi Group was established in 1880 and is based in Chiyoda, Tokyo. The bank employs over 150,000 employees and has 12 million clients. Also, the company is divided into four business divisions:
  • Global business group,
  • Corporate banking,
  • Trust assets, and retail banking.

It operates more than 1,200 locations across more than 50 nations.

Headquarters: Chiyoda City, Tokyo, Japan

Founded: 2005

Mizuho Financial Group

The 2003-founded Mizuho Financial Group offers banking and financial services across Japan. The Americas, Europe, and Asia/Oceania. Tokyo, Japan is home to the company’s headquarters.
  • Retail and business banking,
  • Corporate and institutional,
  • Global corporate,
  • and International markets,
  • Asset management.
Moreover, the bank employs about 60,000 people and is headquartered in Chiyoda, Tokyo.

Headquarters: Chiyoda City, Tokyo, Japan

Founded: 2001

Concordia Financial Group

Founded in 2016, the Concordia Financial Group is based in Japan. Also, the bank has 6,000 employees and its head office is in Tokyo. Higashi-Nippon Bank and the Bank of Yokohama merged to become it. In addition to other financial services, the organization offers banking and insurance services.

Headquarters: Tokyo, Japan

Founded: 2016

Chiba Bank

The Chiba Bank was established in 1943 and is based in Chiba. It is a Japanese company that provides various financial products and services. Also, there are about 4,300 individuals working there.

Also, the bank had about 181 offices when it shut its doors on March 31st, 2020:

  • 159 physical branches,
  • 21 sub-branch locations,
  • 3 virtual branches,
  • 47,346 ATMs outside the banks’ physical sites,
  • 3 money exchange counters, 3 New York, 3 London, 3 Shanghai, 3 Singapore, and 3 Bangkok offices.

Headquarters: Chiba, Chiba, Japan

Founded: 1943

Japan Post Bank Co., Ltd.

Founded in 2006, with a Tokyo headquarters. It is a savings institution and was included in the restructuring of Japan Post into Japan Post Holdings. Also, it allows wire transfers of money between the banking division and the post office.

The lending facilities include:

  • The time-bound deposits
  • and overdraft services backed by Japanese government bonds.

Japan’s largest deposit bank and provides nationwide services for fund withdrawal. Because it allows the usage of both international debit and credit cards. As of 2019, the bank’s total assets stood at 205 trillion, with a total income of 266 billion.

Headquarters: Tokyo, Japan

Founded: 2016

Sumitomo Mitsui Financial Group:

Japanese bank holding/financial services firm founded in Chiyoda, Tokyo, in 2002. Also, it has $2.036 trillion in assets worldwide and provides services such as: –

  • Personal Banking
  • Corporate Banking
  • Investment Banking/Management
  • Wealth Management
  • Credit Cards

Overall, it reported total assets of $2.036 trillion and total revenues of $6.47 billion in 2019. It also has other companies that provide professional services for various financial products.

Headquarters: Tokyo, Japan

Founded: 2002

Hokuhoku Financial Group

It was founded in 2003, with headquarters in Toyama. This group operates the following segments: –

  • Hokuriku Bank
  • Hokkaido Bank
  • Other segments

Banking operations provide financial services to the banking segments. The other component is in charge of leasing, credit cards, and non-banking subsidiaries. In 2004, the Hokuriku Bank and the Hokkaido Bank merged their management. Finally, to form the Hokuhoku Financial Group. Also, it operates as a super-regional financial network encompassing the entire Hokuriko region.

Fukuoka Financial Group:

Fukuoka Financial Group is a Nikkei-listed Japanese corporation. Founded as a financial holding with the Shinwa Bank as a wholly-owned subsidiary. Its headquarters is in Fukuoka (the largest city of Kyushu, located in the south of Japan).

The services provided by the group are:

  • Banking, which includes deposits, loans, and domestic and foreign currency services.

Guarantees, revitalization assistance, debt management, and collection business are also available. The bank’s overall revenue in 2016 was $2 billion.

Bank of Yokohama/Concordia Financial Group:

It is Japan’s largest regional bank, with operations in southwestern Tokyo. It was created in the aftermath of the failure of many existing banks in the region. To improve financial services in the area. Concordia Financial Group, Ltd. was formed in 2015 after the Bank of Yokohama merged with Higashi-Nippon Bank. As a result, it was included in the Nikkei 225 stock index.

The island country is home to various multinational banks, in addition to national Japanese banks:
  • Bank of America.
  • Barclay’s.
  • Citibank.
  • JPMorgan Chase Bank.
  • HSBC.

Japan now has 53 foreign banks in operation. Japan’s banking system is comparable to that of other developed nations. It is stable and well-regulated. Also, it provides a wide range of alternatives for corporate and personal accounts. Some banks, although not all, offer English-language services.