Foreign news: Japanese mega-banks looking for acquisitions

Japan's three mega-banks, Mitsubishi Financial Group, Sumitomo Financial Group and Mizuho are looking for foreign acquisitions to deliver bigger profits and better shareholder returns, the Financial Times reports. The newspaper says both Mitsubishi Group and Sumitomo Mitsui Group are keen to strike deals within this financial year, with the likely targets expected to be those with large wholesale commercial banking or debt capital markets businesses. Mizuho is thought to be targeting asset management companies.