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Japanese capital pours into South-east Asia, seeking growth

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Benjamin Cher

Benjamin Cher

Published Mon, Feb 5, 2024 · 05:00 AM
    • The acquisition of Singlife by Sumitomo Life is just one of many deals by Japanese corporates in South-east Asia. The favourable demographics in the region with a growing appetite for financing makes it very attractive to Japanese investors.
    • The acquisition of Singlife by Sumitomo Life is just one of many deals by Japanese corporates in South-east Asia. The favourable demographics in the region with a growing appetite for financing makes it very attractive to Japanese investors. PHOTO: BT FILE

    THE planned acquisition of insurance provider Singlife, valued at S$4.6 billion, by Sumitomo Life in December 2023 sent a strong signal that Japanese investors are still on the lookout for opportunities in South-east Asia, as they capitalise on their low cost of funds.

    Major banks have poured money into Indonesia, with Mitsubishi UFJ Financial Group (MUFG) investing US$100 million in lending platform Home Credit in December 2023, and a new 20 billion yen (S$181.2 million) fund with commercial Bank Danamon to focus on investing in the Indonesian market.

    In January this year, Tokyo Century Leasing’s Singapore subsidiary made a strategic investment in car services platform Motorist, valuing the business at US$60 million.

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