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Japan’s leading bank concludes agt on coop with Sberbank

September 16, 2011, 10:37 UTC+3
“The agreement,” the document says, “is first of all aimed at cooperation in financial support of Japan’s firms in Russia”
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TOKYO, September 15 (Itar-Tass) —— One of the leading banks in Japan Mizuho Corporate announced on Friday that it had concluded an agreement with Sberbank, which is first of all aimed at financing of Japanese investment projects in Russia. This undertaking, as a report of the corporation issued in Tokyo says, will most widely service Japanese clients beginning their activity in Russia.

“The agreement,” the document says, “is first of all aimed at cooperation in financial support of Japan’s firms in Russia.” The question is, in particular, of organizing for them a system of money transfers in roubles, financing trade and investment operations.

As the Toyo press reported, Mizuho would also like to get an access to the clients’ network of Sberbank - - the Russian biggest bank. The corporation plans to acquaint Japanese companies, which are interested in purchasing assets in Russia or creating joint ventures there, with these data. At present, about 300 firms from Japan are working in Russia already.

Mizuho Corporate is working in Russia since January 2008 when it bought a unit of the regional bank Minooka - - the pioneer of Japan’s financial business in the Russian market - - set up there back in 1999. Two other bank giants of Japan - - Tokyo-Mitsubishi UFJ and Sumitomo-Mitsui also have their daughter companies in Russia.

 

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