Crédit Agricole in Japan: present for 78 years

After a series of false starts owing to the war, Banque de l'Indochine secured permission to open a branch in Tokyo on 30 September 1946. It was the second foreign bank, after the National City Bank of New York, allowed to set up operations in Japan. It quickly played a role in financing imports of raw materials into the country, and contributed to developing the local network of French institutions. From the 1970s, the Tokyo branch was posting decent results and reaped the benefits of its good relations with the major local trading companies (the "sogo shoshas").

In 1975, Banque de l'Indochine merged with Banque de Suez and Union des Mines to form Indosuez. In 1986, the Japanese arm of Indosuez expanded by acquiring WI Carr, which was very well established in Tokyo. However, the early 1990s were difficult for Indosuez and the Tokyo branch despite a major reorganisation.

In 1996, Crédit Agricole bought Indosuez.

Crédit Lyonnais, meanwhile, opened a representative office in 1970 which was transformed into a branch in 1977. This arrival was facilitated by "friendly" Japanese banks which made some of their executives available to the French bank while the branch was getting off the ground. In the 1980s, Crédit Lyonnais helped French companies set up in Japan, and offered support and guidance to some major Japanese companies looking to float on the Paris stock exchange. It also contributed to the financing of some major industrial projects. From 1987 onwards, it was operating in the securities market after creating Crédit Lyonnais Securities. Until it joined Crédit Agricole Group in 2003, Crédit Lyonnais was always in the top spots among foreign banks operating in Japan.

Crédit Agricole began its international expansion in 1979 and, in 1980, it signed an agreement with a local Japanese representative and started a fruitful relationship with the cooperative bank Norinchukin. In 1986, a representative office was opened in Tokyo and the research and investment subsidiary Union d'Études et d'Investissements created a venture capital fund in Japan. Crédit Agricole's business was greatly boosted by the acquisition of Indosuez in 1996. It meant the Group was operating in corporate and investment banking, commercial banking, asset management (Indocam) and aircraft financing. The provision of digital services is one of the Japanese establishments’ strong points.

The merger with Crédit Lyonnais in 2003 increased Crédit Agricole's position in Japan, with each of the two companies having their own strengths in the country. The creation in 2006 of Crédit Agricole Life Japan added another line of business, insurance, and further strengthened the Group's presence in Japan.