TOKYO Oct 30 JPMorgan Chase & Co (JPM.N) is
eyeing joint ventures and acquisitions in Japan to help it expand
in the world's second-largest economy, the Financial Times quoted
JPMorgan chief executive Jamie Dimon as saying.
Shares in Aozora Bank Ltd (8304.T) jumped nearly 13 percent
and Shinsei Bank (8303.T) leapt more than 10 percent after the
newspaper said analysts had named the two banks as potential
"I have asked the management teams here that they come up
with joint ventures and acquisitions that, if they did make
sense, we will pursue. We think Japan will be a great market over
time," Dimon was quoted as saying at a management forum.
Dimon's comments come as Citigroup Inc (C.N) prepares to list
its shares in Tokyo next month and make brokerage unit Nikko
Cordial Corp 8603.T a wholly-owned subsidiary to help it tap
Japan's estimated $13 trillion in household assets.
"We clearly would be as aggressive as Citi," the Financial
Times quoted Dimon as saying.
By 0057 GMT, shares of Aozora Bank had risen 12.9 percent to
404 yen while Shinsei's stock rose 10.4 percent to 361 yen. The
benchmark Nikkei average .N225 was down 0.3 percent.