The Japan’s banking sector includes 5 city banks, 64 regional banks, 40 regional II banks, 263 Shinkin banks, 15 trust banks, 56 foreign banks and 22 bank holding companies. The Bank of Japan, founded in 1882, is the central bank of the country. The banks are usually open from 9:00 to 15:00, and close on weekends and national holidays. Here is a list of the largest and best banks in Japan ranked by total assets.
Mitsubishi UFJ Financial
Headquartered in Tokyo, Mitsubishi UFJ Financial Group (MUFG) is the largest bank and financial services company in Japan by assets and market capitalization. It is also one of the top 10 banks in the world. At March 31, 2020, the consolidated balance sheet totaled US$3.1 trillion and deposits were US$1.8 trillion. The company's shares are traded on the Tokyo Stock Exchange (TSE/TYO) and the New York Stock Exchange (NYSE), with a market capitalization of US$57 billion as of June 1, 2020.
Japan Post Bank
Established in 2006, Japan Post Bank Co., Ltd is the second largest bank in the country by total assets and the largest by number of customers. Unlike most commercial banks, it is mainly a savings financial institution. The Bank operates through a nationwide network of approximately 24,000 post offices and 30,000 ATMs. It offers deposit and credit card products, insurance, mortgage loan intermediary services, consumer and syndicated loans, internet banking (Yucho Biz Direct) and more.
Sumitomo Mitsui Financial
Sumitomo Mitsui Financial Group (SMFG) is the third largest financial services group in Japan. It operates through four business areas: Wholesale banking, Retail banking, International banking, and Global Markets. The company achieved US$2.0 trillion in total assets and US$1.27 trillion in deposits for the period ended March 31, 2020. Headquartered in Tokyo, it employs approximately 87,000 people.
Mizuho Financial Group (MHFG) is the fourth largest Japanese bank with presence in 38 countries and regions, and 60,000 employees. Its network includes 460 Mizuho Bank branches, 60 Mizuho Trust and Banking branches, 280 Mizuho Securities offices as well as 7,200 ATMs throughout Japan. As of March 2020, the company's total assets, deposits and loans amounted to US$1.99 trillion, US$1.34 trillion and US$776 billion, respectively.
The Norinchukin Bank
The Norinchukin Bank, founded in 1923, is the fifth largest bank in Japan by assets. It is a cooperative financial institution serving agricultural, fisheries, and forestry industries. The company was established by Japan Agricultural Cooperatives (JA), Japan Fishery Cooperatives, Japan Forestry Cooperatives and other members. The Bank has long-term debt ratings A and A1 from Standard & Poor's and Moody's, respectively. As at March 31, 2020, Norinchukin had total assets of JPY 105.5 trillion (US$978 billion) and total deposits of JPY 65.6 trillion (US$609 billion).
Resona Holdings Inc is the sixth largest banking group in Japan with a strong customer base in the Tokyo metropolitan area and Kansai region. The main operating units are Resona Bank, Saitama Bank, Kansai Mirai Bank, Minato Bank, Resona Card and Resona Asset Management, among others. With focus on retail banking business, the Group operates through about 830 domestic branches and serves 16.5 million retail and corporate customers. As of March 2020, it had ¥51 trillion (US$473 billion) in deposits and ¥36 trillion (US$334 billion) in loans.
Sumitomo Mitsui Trust
Sumitomo Mitsui Trust Holdings offers asset management and asset administration, pension and real estate services, inheritance and succession, global markets, installment-type and insurance products, fiduciary services, residential mortgage loans and more. As at March 31, 2020, the company had US$524 billion in total assets and US$339 billion in deposits.
Founded in 1925, Nomura Holdings Inc is one of the largest asset managers in Japan and the eighth largest financial institution by total assets. With over 28,000 employees and presence in 30 countries, it operates through the following business lines: Retail Banking, Asset Management, Global Markets and Investment Banking, and Merchant Banking. For the fiscal year ended March 31, 2020, Nomura reported total assets of US$408 billion, total equity of US$25 billion, assets under management (AUM) of US$457 billion, net income of US$2 billion and total revenue of US$18.1 billion.
Shinkin Central Bank
Shinkin Central Bank (SCB) is a central bank for Shinkin banks, the regional cooperative financial institutions which include over 260 banks and more than 7,300 branches. Their membership are local residents and small and medium-sized companies. Shinkin also has representative offices in New York, Hong Kong, Bangkok and Shanghai as well as overseas subsidiary in London, the UK.
Fukuoka Financial Group (FFG) is the tenth largest Japanese banking group operating through 330 domestic branches and 8 international offices primarily in Asia. With over 8,100 employees, the Group includes three regional banks (Bank of Fukuoka, Kumamoto Bank and Shinwa Bank) and other subsidiaries. The company is listed on the Tokyo and Fukuoka Stock Exchanges, with a market capitalization of US$3.1 billion as of May 29, 2020.
Top 30 Banks in Japan by assets
The table below shows the 30 largest banking groups in Japan ranked by total assets.
|Rank||Bank||Total Assets (US$b, March 31, 2020)|
|1||Mitsubishi UFJ Financial Group||3,121.21|
|2||Sumitomo Mitsui Financial Group||2,038.91|
|3||Mizuho Financial Group||1,990.65|
|4||Japan Post Bank||1,955.89|
|7||Sumitomo Mitsui Trust Holdings||523.960|
|9||Shinkin Central Bank||378.992|
|10||Fukuoka Financial Group||232.473|
|11||Concordia Financial Group||175.529|
|12||Mebuki Financial Group||165.114|
|14||Sony Financial Holdings Inc||140.269|
|15||Hokuhoku Financial Group||126.536|
|17||Shoko Chukin Bank||109.600|
|18||Kyushu Financial Group||102.749|
|19||Nishi-Nippon Financial Holdings||100.365|
|20||Yamaguchi Financial Group||98.350|
|23||Bank of Kyoto||93.463|
|24||North Pacific Bank||92.625|