"Changing things means criticizing what you've done so far, " says Iwao Nakatani, a professor of commerce at Hitotsubashi University.

CNN: ASIANOW - TIME Asia

On November 15th last year Iwao Takamuki, vice-president of a small Hokkaido lender called Hokuyo Bank, was asked by the finance ministry if he would like to acquire the prestigious Takugin.

ECONOMIST: Japanese banks