Japan megabanks to skip third batch of U.S. investments

What happened: Japan's three megabanks, MUFG Bank, Mizuho Bank and Sumitomo Mitsui Banking, are making final arrangements to skip syndicated lending for a semiconductor plant project in the third batch of Japanese U.S. investments. Key numbers: Third batch involves up to $21 billion for GlobalFoundries plants. Total Japanese U.S. investments expected to reach $550 billion. Why it matters: Japanese banks face difficulty securing dollar funding, and large dollar purchases could further weaken the yen. They have asked the government for help obtaining dollar funding.

Japan's three megabanks, MUFG Bank, Mizuho Bank and Sumitomo Mitsui Banking, are making final arrangements to skip syndicated lending for a semiconductor plant project in the third batch of Japanese U.S. investments.

Japanese banks face difficulty securing dollar funding, and large dollar purchases could further weaken the yen. They have asked the government for help obtaining dollar funding.