Citigroup Inc. is considering listing its shares on the Tokyo Stock Exchange, a move that would make it easier to buy Japanese companies and accelerate its planned expansion in the world's second biggest economy, The Wall Street Journal website reported on Monday.

"Citigroup is committed to Japan for the long-term and has been reviewing its business strategies, which could include listing Citigroup on the TSE. We have not yet, however, made any decisions at this stage of the study," the report quoted a spokeswoman for the U.S. banking giant as saying.

The move is the latest sign that Citigroup is gearing up to build its Japanese business. Last month it unveiled plans to establish a Japanese holding company, under which it will place its retail, corporate banking and other operations.

Japan is widely considered to be ripe with opportunity for financial firms.

Douglas Peterson, chief executive of Citigroup Japan, said last month Citigroup is not ruling out opportunistic acquisitions as part of its growth strategy for Japan.

Citigroup owns a 4.87 percent stake in Nikko Cordial Corp., Japan's third biggest brokerage by revenue which is embroiled in an accounting scandal. It also operates an investment banking joint venture with Nikko Cordial, called Nikko Citigroup Ltd.

Source: Xinhua