On Wednesday, Sumitomo Mitsui Banking Corporation pledged to invest $945 million in a plan by Barclay's to raise almost $9 billion in fresh capital. This follows a $1.2 billion investment Mizuho Financial Group made in Merrill Lynch in January.

In contrast to most developed world banks, which have been relegated to life-support by immense subprime losses, Japanese banks emerged almost unscathed by subprime debt. Along with various sovereign wealth funds, Japanese banks appear poised to become major investors in distressed Western financial institutions.

Snapshot asks, will Japanese investment be seen as less threatening than investment from the Gulf and China?

Sky News - Barclays Outlines £4.5bn Cash Injection
The Economist - Japanese banks: On the prowl again
AFP - Moody's upgrades Japan's debt rating
Mondo Visione - Japan's FSA Publishes English Translations of the Banking Act