American air strikes on Iran escalate tension, while major Japanese bank urgently evacuates employees from the Middle East.

After the US airstrikes on Iran escalated regional risks, Japanese major banks became among the first global companies to evacuate staff from Dubai and other financial centers in the Middle East. A spokesperson for Mitsubishi UFJ Financial Group said on Monday that the company has started withdrawing staff from Dubai and other locations, and has suspended unnecessary travel to the region. Following the US strike on Iranian nuclear facilities on Saturday, Japanese companies have taken urgent measures to protect their employees and prepared for potential retaliation from Iran that could impact local operations. Mizuho Financial Group has urged caution among its staff in the region and has started coordinating personnel evacuations. Sumitomo Mitsui Financial Group is considering evacuating employees from Qatar and the UAE back to Japan. In the UAE, Dubai and Abu Dhabi, the two financial centers, have attracted numerous banks and hedge funds because traders favor the zero income tax, the convenient time zones for cooperation between the East and West, and the tailored lifestyle for the wealthy. Meanwhile, Saudi Arabia and Qatar, trying to reduce their dependence on oil, have also attracted many financial companies to establish operations. MS&AD Insurance Group Holdings Inc. also stated that it is arranging for employees in the UAE to temporarily return to Japan.