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Sumitomo Mitsui CEO to Weigh More Acquisition Targets

  • Japan bank is buying up stakes in finance firms across Asia
  • CEO is also interested in greater U.S. banking presence
Jun Ohta at the company’s headquarters on Dec. 13.
Jun Ohta at the company’s headquarters on Dec. 13.Photographer: Kentaro Takahashi/Bloomberg
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After spending more than $3.3 billion on deals in Asia this year, Sumitomo Mitsui Financial Group Inc. Chief Executive Officer Jun Ohta said he’s far from completing his ambitions in the region and will weigh more transactions in the future. 

“We will consider if there are good targets,” he said in an interview. “Our ultimate goal is to create a second and third SMBC Group. We just lack everything,” he added, using its preferred name for the banking conglomerate.