Banking group Sumitomo Mitsui to buy Citigroup’s Japan brokerage unit for $5.6 billion

TOKYO — 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.

Sumitomo Mitsui to buy Citigroup’s Japan brokerage unit

TOKYO — 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.