Japan’s Finance Minister Satsuki Katayama sat down with Alphabet to talk about bringing the tech giant’s latest AI capabilities to the country’s biggest banks.

Alphabet offered its latest AI technology to Japan’s three megabanks: Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Financial Group (SMFG), and Mizuho Financial Group.

What’s actually on the table

MUFG is already piloting Google’s Gemini AI program starting in fiscal 2026, with the initial focus on enhancing customer engagement services.

In May 2026, OpenAI granted select Japanese banks access to its GPT-5.5 model specifically to improve defenses against cyber threats. All three megabanks are expected to participate in that initiative.

Katayama’s broader AI push

In April, Katayama held meetings with the megabanks and representatives from Anthropic, the company behind the Claude AI model, to discuss deploying advanced AI for cybersecurity purposes.

Japanese financial authorities are also coordinating at the institutional level. The Financial Services Agency, Bank of Japan, and Tokyo Stock Exchange are all part of ongoing discussions about both the risks and benefits of AI adoption in finance.

What this means for investors

OpenAI is also in the mix with GPT-5.5, and Anthropic has been part of the conversations too. Japan’s megabanks appear to be taking a multi-vendor approach rather than locking into a single AI provider.