Japan's financial groups are not indulging in the sort of foreign trophy acquisitions of the 1980s and early 1990s, which included the Pebble Beach golf course in the US.
Japanese companies have been on a gigantic spending spree this year in Southeast Asia.
Total Japanese investment into the region has already reached $8.94 billion this year, surpassing the full-year record. Banks and insurers such as Mitsubishi UFJ Financial Group and Meiji Yasuda Life Insurance are leading the way.
Their motivation is clear capture faster growth than in their own sluggish economy using the still relatively strong yen and their...