Mitsui-Sumitomo Bank planning to enter Okinawa

Mitsui-Sumitomo Bank, one of the three largest banks in the nation, is reportedly making plans to open a branch office in Okinawa.

According to persons familiar with the matter, the bank has summarized the results of its investigation to the structure and profitability of entering the market, and plans to make an official decision based on the pros and cons within this fiscal year.

As for the background to the plan, a spokesman for the bank explained on condition of anonymity that the tourist business in Okinawa is doing well, and the demand, especially from overseas tourists, is expected to see a steady increase.

The bank’s analysts expect the tourism market of Okinawa to show a robust growth at least the next five to 10 years.

18:43 23 Oct , 2016