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Last week Mitsui Mutual, the weakest of the seven, joined in an alliance with Sumitomo Mitsui Bank, Sumitomo Life and Mitsui Sumitomo Insurance, a non-life insurer.
ECONOMIST: From bad to worse
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It is not clear how effective the move will be, though: Sumitomo Mitsui Bank has massive bad debts of its own and has yet to commit fresh funds to Mitsui.
ECONOMIST: From bad to worse
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The FSA's new requirement, likely to be phased in from 2016, is expected to cover major trust banks, such as Sumitomo Mitsui Trust Bank and Norinchukin Bank.
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If the government chooses to convert, it will hold more than 50% of the shares of Daiwa Bank, Mitsui Trust and Chuo Trust.
ECONOMIST: Money for nothing
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China Construction Bank and Sumitomo Mitsui are among those considering buying Rabobank's Indonesian subsidiary.
WSJ: What's News
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Consumer and small-business loans would account for roughly 60% of the merged bank's domestic total, about the same as at Mizuho and Sumitomo Mitsui Financial Group, the other big-four bank.
ECONOMIST: Will a mega-merger mark the end of Japan's banking crisis?
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Sumitomo Mitsui is not the only big bank making odd moves.
ECONOMIST: A curious proposal by one of Japan's biggest banks
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It is reported that the transaction is being funded entirely by loans from four banks: Mizuho Financial, Sumitomo Mitsui Financial, Mitsubishi UFJ and Deutsche Bank.
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