On October 5, Japan’s NEC Corp. announced that it will purchase Swiss financial solutions provider Avaloq Group AG for CHF 2.05 billion (USD 2.25 billion), making it the biggest acquisition ever for NEC.
Fintech
Japan plans to take most government paperwork online, streamlining cumbersome processes blamed for delayed payments of pandemic assistance, in an ambitious digital revolution it aims to complete in a year.
Japanese broker Nomura launched a wealth management smartphone app on Monday with Japanese fintech company Money Forward in its latest effort to go digital amid rising competition and the coronavirus pandemic.
Sony will make listed subsidiary Sony Financial Holdings a wholly owned unit for 400 billion yen ($3.73 billion) as it follows global tech giants Alibaba Group Holding and Apple in turning to finance as a stable profit generator that performs even during crises like the current pandemic, Sony announced Tuesday.