Japanese banks spending more on IT, study reveals

A study conducted by information technology consulting company Celent found overall IT spending among Japanese banks rose to $10.8 billion over the period, from $10.3 billion the previous comparative year. The country's three largest banking groups – Mizuho Bank, Sumitomo Mitsubishi Financial Group and Bank of Tokyo Mitsubishi UFG – accounted for a third of the industry total, collectively $3.9 billion.

Neil Katkov, group manager of Asia research at Celent in Tokyo and author of the report, said