UPDATED-- Mitsubishi UFJ Financial Group Inc. (NYSE: MTU) and Sumitomo Mitsui Financial Group Inc. (NYSE: SMFG) are reportedly among the expected bidders for General Electric (NYSE: GE)’s $5 billion GE Capital Asia, according to the Wall Street Journal.
The Japanese unit makes loans for equipment purchases. The fleet-management business, which helps Japanese trucking and logistics companies finance purchases of trucks, is considered particularly attractive. Japan’s financial services companies have been active acquirers of assets that have come up for sale on the global market in the wake of post-recession regulations. For example, in February, Mizuho Financial Group Inc. agreed to buy Royal Bank of Scotland Group.