Japanese financial conglomerate SBI Holdings Inc. anticipates a flood of money from yield-starved regional banks that need help reinvesting cash after redeeming government bonds.
A year-old SBI unit that invests on behalf of local banks should see assets at least doubling to 300 billion yen ($2.7 billion) this year, said Tomoya Asakura, an executive at the Tokyo-based group. “We are seeing very strong demand,” he said in an interview.
