Asia Investor Visits: Interest Spreading from Banks to Broader Financial Industry

研报英文原文证据摘录

Asia Investor Visits: Interest Spreading from Banks to Broader Financial Industry

Update

June 26, 2026 10:02 AM GMT

Morgan Stanley MUFG Securities Co., Ltd.+MFinancials | Japan Mia Nagasaka

Equity Analyst

Asia Investor Visits: Interest Mia.Nagasaka@morganstanleymufg.com +81 3 6836-8406

Spreading from Banks to

Broader Financial Industry Banks

Japan

Over Jun 22-26, we met 34 investors in Hong Kong & Singapore. Industry View Attractive

Interest centered on banks has spread to online brokers &

payments. Beyond prospects of profit gains with normalized

rates at banks & shareholder returns, there was a clear focus on

longer term growth & improved capital efficiency.

Key Takeaways

Hong Kong & Singapore investor visits showed strong interest in Japan financials,

with discussions expanding from banks to capital policy & growth strategies.

Asia investor visits: We met & held discussions with 34 investors in HK & Singapore

over Jun 22-26. Interest in the Japan financial industry remains strong. Discussions

focused on interest rate normalization, capital policy & capital market growth.

Subindustry interest: Interest was strongest in banks, followed by P&C insurance,

brokers, life insurance & other financials. 1) Banks: Most questions related to profit

growth potential in a rising rate environment, backed by terminal rate forecast hikes,

and the prospect of more sophisticated capital allocation strategies. There were

also lively discussions on profit growth factors for lifting ROE, trends in the battle

for deposits (see report), and funding demand tied to an expanding capex cycle, plus

strong interest in longer-term structural changes, incl. regional bank earnings trends

(report)/consolidation & overseas business strategies. 2) P&C insurance: Questions