Resona Seeks to Fill Japan’s Startup Gap With $680 Million Bet

Resona Bank Ltd. is aiming to expand lending to startups to ¥100 billion ($680 million) by the fiscal year ending March 2029 as it seeks profits in a still underdeveloped corner of Japan’s finance market.

The expansion would mark a jump of more than 17 times its current startup loan book of around ¥5.8 billion as of the end of July, according to data disclosed by the commercial bank.

Shoichi Iwanaga

Source: Resona Holdings Inc.

“Growth in startups is something that’s missing in Japan,” said Shoichi Iwanaga, president of the unit of Resona Holdings Inc. Banks “need to take risks” to support Japan’s economic ...