Lots of news coming out of Japan, as they take advantage of their relatively strong position to buy up American Banks.

Nomura continues global push with Lehman’s European equities and investment banking businesses

Tokyo, London, September 23, 2008 – Nomura, the pre-eminent Asian-based investment bank, today announced it had reached an agreement to acquire the European and Middle Eastern equities and investment banking operations of Lehman Brothers.

MUFG, Nomura take advantage of financial turmoil to buy up U.S. strugglers

Sumitomo Mitsui Financial Group Inc. is applying the finishing touches to a plan to invest up to 200 billion yen in Goldman Sachs Group Inc., sources said Wednesday.

The remaining $2.5 billion in common shares will be sold in a public stock offering. SMFG plans to spend up to 200 billion yen, or about $1.8 billion, on shares, the sources said. But this will still likely leave SMFG’s stake in Goldman Sachs at less than 10 percent.

Goldman Sachs’ decision to sell shares is apparently aimed at improving its balance sheet to meet U.S. regulations before its transformation into a holding firm.