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Japanâ••S Consolidating Banking System: How Eighteen Became Six

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Japanâ••S Consolidating Banking System: How Eighteen Became Six Japan’s consolidating banking system: How eighteen became five 1995-2013 Daiwa Bank December 2001 Daiwa Bank October 2002. Merged entities Holdings results from merger become Resona Holdings between of Daiwa Bank, Kinki Red border (TSE 8308) including Asahi Bank Resona Bank which does indicates current (1991 merger of Kyowa Osaka Bank and Nara Bank. trust business entity. Red line Bank and Saitama Bank) indicates forthcoming event Sanwa Bank April 2001 ‘integrate’ businesses. Tokai Bank October 2005 form January 2002 form UFJ Group Mitsubishi UFJ Financial Group (TSE 8306) Toyo Trust & Banking including Mitsubishi UFJ Trust & Mitsubishi Bank Banking Corporation April 1996 form Bank of Tokyo Bank of Tokyo-Mitsubishi All the five surviving mega-groups were bailed out during April 2001 form this time by massive convertible loans .from government Mitsubishi Trust & Banking Mitsubishi Tokyo Financial During the same period: Group Long-Term Credit Bank of Japan was acquired from bank- Nippon Trust Bank ruptcy by Ripplewood Holdings of the US, renamed Shinsei [meaning reborn] Bank, rehabilitated, and relisted on the Yasuda Trust & Banking Tokyo Stock Exchange (TSE) in November 2004. Absorbed by Fuji in 1996 due to long-running NPL problems. The troubled Nippon Credit Bank was acquired and renamed September 2000 form Fuji Bank Aozora Bank by a consortium of Japanese financial Mizuho Holdings institutions led by Softbank Corp. It later sold its shares to In 2003 becomes Cerberus of the US which turned the bank around and listed it Dai-ichi Kangyo Bank Mizuho Financial Group (TSE 8411) on the TSE in November 2006. including Both Shinsei and Aozora ran into subsequent difficulties but Mizuho Trust & Banking (TSE 8404) Industrial Bank of Japan long-running merger talks were abandoned in May 2010. Tokyo Sowa Bank entered administration in 1999. In 2001 Sakura Bank bought by US’s Lone Star, renamed Tokyo Star. In 2005 (1990 merger of Mitsui Bank April 2001 form and Taiyo Kobe Bank) Sumitomo Mitsui Banking Group listed on TSE. In 2011 acquired by Advantage Partners. In in December 2002 becomes 2008 with loans from a syndicate including Lone Star and Sumitomo Mitsui Financial Group Shinsei. With Advantage unable to repay the loans ownership Sumitomo Bank (TSE 8316) passed to the lending syndicate which in July 2013 was poised to sell to Taiwan’s Chinatrust Commercial Bank. Failed in November 1997. In On 1 April 2012 Hokkaido Takushoku Bank February 1998 mainland Japan form Sumitomo Mitsui business absorbed by Chuo. February 2002 becomes June 2001 acquires Trust Holdings [TSE Mitsui Trust Holdings (TSE 8309) Chuo Trust & Banking Sakura Trust & Banking 8309] of which the including from Sumitomo Mitsui merged Sumitomo April 2000 form Chuo Mitsui Trust & Banking and Banking Corp Mitsui Trust & Banking Chuo Mitsui Trust & Banking Chuo Mitsui Asset Trust & Banking Mitsui Trust Bank is part. Note that this Sumitomo Trust & Banking holding company is separate from Sumitomo © 2013 Jo McBride/ Japan Pensions Industry Database. Mitsui Financial Group). This notice must appear on any reproduction .
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