INTERVIEW: Kansai Mirai to Double Corporate Commission Revenues

July 10, 2018

Osaka- Kansai Mirai Financial Group Inc. intends to double commission revenues from corporate services in four years, its president, Tetsuya Kan, said in a recent interview.

The Japanese banking group's commission revenues from corporate clients currently total 9.4 billion yen. The company aims to increase the sum to 18 billion yen in fiscal 2022, which ends in March 2023, Kan said.

There is a strong need for business successions in the Kansai western Japan region where the group mainly operates, Kan said.

"It is sensible to create a structure not vulnerable to the interest rate environment," Kan said.

"The point is whether we can provide consulting services to owners of small businesses," he added.

Kansai Mirai was launched in April as the largest regional banking group in Kansai, brining Kansai Urban Banking Corp., Kinki Osaka Bank and Minato Bank under its control.

The group will allow other regional banks to join "if their ideas and vision are in step with ours," Kan said.

Kansai Mirai will increase the number of its sales staff by some 550 by fiscal 2022 through a realignment of divisions.

Of them, more than 200 employees will be engaged in corporate services to increase commission revenues from mergers and acquisitions to 2 billion yen from the current 300 million yen and real estate-related operations to one billion yen from 300 million yen.

More than 300 employees will be deployed to retail services to boost investment trust and housing loan operations.

Kan said that the group will cut branch costs through measures such as the closure of overlapping stores. "We want to maintain its (branch) network to contribute to communities but we also hope to cut costs," he said. Jiji Press