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Finance

Japan's SMFG to pour $1.5bn into helping companies turn around

Megabank eyes capital gains by selling company stakes after revitalization

Sumitomo Mitsui Financial Group subsidiary SMBC Capital Partners will invest in companies that need help with corporate revitalization or business succession.   © Reuters

TOKYO -- Sumitomo Mitsui Financial Group will pour roughly 200 billion yen ($1.5 billion) within a couple of years into helping struggling companies turn around, Nikkei has learned.

SMFG subsidiary SMBC Capital Partners will invest in companies that need help with corporate revitalization or business succession. SMFG and SMBC Capital Partners have helped struggling companies so far by taking a minority stake in them. SMFG will be the first megabank in Japan to take a majority stake in companies to help them turn around.

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