mitsui

Sumitomo Mitsui Financial Group, which suffered a steep loss last year, had said in April it would seek about $8 billion in the market.

The sale of its Japanese brokerage and investment units for $5.56 billion ends Citigroup’s ambitious yet short-lived push into the world’s second-biggest economy.

Sumitomo Mitsui is taking over Citigroup's Japan brokerage businesses, both sides said Friday, as part of a bigger plan to restructure the struggling U.S. bank.

Sumitomo Mitsui is taking over Citigroup's Japan brokerage businesses, both sides said Friday, as part of a bigger plan to restructure the struggling U.S. bank.

The deal is Japan's first acquisition of a leading brokerage by a bank.