Citigroup has shortlisted Sumitomo Mitsui Banking, Sumitomo Mitsui Trust Holdings and Shinsei Bank as potential buyers of its retail banking business in Japan.
The American banking put its 33-branch Japanese retail bank, with deposits of about JPY3.9 trillion ($36bn), on sale last month.
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People familiar with the situation told FT that the unit could fetch a price tag of about JPY30bn ($275.6m).
Citi is expected to select a buyer by early next year.
Citi is also planning to sell its Diners Club-branded credit-card unit in Japan, The Wall Street Journal reported quoting unidentified sources.
Citi is scaling back its global operations amid regulatory pressure from the 2010 Dodd-Frank Act.
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