DOCSLIB.ORG

Sumitomo Mitsui Banking Corporation (Incorporated Under the Laws of Japan with Limited Liability) U.S.$850,000,000 8.15 Per Cent

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Sumitomo Mitsui Banking Corporation (Incorporated Under the Laws of Japan with Limited Liability) U.S.$850,000,000 8.15 Per Cent Sumitomo Mitsui Banking Corporation (incorporated under the laws of Japan with limited liability) U.S.$850,000,000 8.15 per cent. Perpetual Subordinated Bonds The U.S.$850,000,000 Perpetual Subordinated Bonds (the ‘‘Bonds’’) of Sumitomo Mitsui Banking Corporation (‘‘SMBC’’) will be issued in the denomination of U.S.$1,000 subject to the terms and conditions attached thereto (the ‘‘Conditions’’). The Bonds are undated and accordingly have no final maturity date and will only be redeemed or repaid in accordance with Conditions 4 or 8. The Bonds are subject to redemption in whole, at their nominal amount, together with accrued interest, at the option of SMBC or in the event of certain changes affecting taxes of Japan, in each case, after having obtained the prior consent of the Japanese Financial Services Agency (the ‘‘FSA’’). See ‘‘Terms and Conditions of the Bonds — Redemption and Purchase’’. Subject to Condition 2(e), the Bonds bear interest from August 1, 2003 at the rate of 8.15 per cent. per annum, payable quarterly in arrear on November 1, February 1, May 1 and August 1 in each year, as described in Condition 3. Payment of principal and interest by SMBC in respect of the Bonds and the Coupons (as defined in the Conditions) shall be made without withholding or deduction for, or on account of, any present or future taxes, duties, assessments or governmental charges of whatever nature imposed or levied by or on behalf of Japan or any authority therein or thereof having power to tax, unless such withholding or deduction is required by law, as further described in Condition 6. The Bonds will initially be represented by a Temporary Global Bond, without interest coupons, which will be deposited with a common depositary on behalf of Euroclear Bank S.A./N.V. as operator of the Euroclear System (‘‘Euroclear’’) and Clearstream Banking, soci´et´e anonyme (‘‘Clearstream, Luxembourg’’) on or about August 1, 2003. The Temporary Global Bond will be exchangeable for interests in a Global Bond, without interest coupons, on or after a date which is expected to be September 11, 2003 upon certification as to non-U.S. beneficial ownership. The Global Bond will be exchangeable for definitive Bonds in bearer form in the denomination of U.S.$1,000 in certain limited circumstances set out therein. See ‘‘Summary of Provisions relating to the Bonds while in Global Form’’. Application has been made to the Financial Services Authority (the ‘‘UK Listing Authority’’) in its capacity as competent authority under the Financial Services and Markets Act 2000 (the ‘‘FSMA’’) for the Bonds to be admitted to the official list of the UK Listing Authority (the ‘‘Official List’’) and to the London Stock Exchange plc (the ‘‘London Stock Exchange’’) for such Bonds to be admitted to trading on the London Stock Exchange’s market for listed securities. Admission to the Official List of the UK Listing Authority together with admission to trading on the London Stock Exchange’s market for listed securities constitute official listing on a stock exchange. A copy of this document, which comprises listing particulars, has been delivered to the Registrar of Companies in England and Wales as required by Section 83 of the FSMA. This Offering Circular does not constitute an offer of, or solicitation of an offer to buy or subscribe for the Bonds in any jurisdiction in which such offer or solicitation is unlawful. In particular, the Bonds have not been and will not be registered under the U.S. Securities Act of 1933 (the ‘‘Securities Act’’) and Bonds in bearer form are subject to U.S. tax law requirements. Subject to certain exceptions, Bonds may not be offered, sold or delivered within the United States or to U.S. persons. For a description of certain further restrictions on offers and sales of Bonds and distribution of this Offering Circular see ‘‘Subscription and Sale’’. See ‘‘Investment Considerations’’ for a discussion of certain factors that should be considered in connection with an investment in the Bonds. Joint Lead Managers and Joint Bookrunners Goldman Sachs International JPMorgan Daiwa Securities SMBC Europe Citigroup Morgan Stanley UBS Investment Bank Offering Circular dated July 25, 2003 This Offering Circular comprises listing particulars given in compliance with the listing rules made under Section 74 of the FSMA by the UK Listing Authority for the purpose of giving information with regard to SMBC, SMBC and its subsidiaries and affiliates taken as a whole (the ‘‘SMBC Group’’) and the Bonds. SMBC accepts responsibility for the information contained in this document. To the best of the knowledge and belief of SMBC (which has taken all reasonable care to ensure that such is the case), the information contained in this document is in accordance with the facts and does not omit anything likely to affect the import of such information. Any reference in this Offering Circular to listing particulars means this Offering Circular excluding all information incorporated by reference. SMBC has confirmed that any information incorporated by reference, including any such information to which readers of this Offering Circular are expressly referred, has not been and does not need to be included in the listing particulars to satisfy the requirements of the FSMA or the listing rules made under Section 74 of the FSMA by the UK Listing Authority. SMBC believes that none of the information incorporated therein by reference conflicts in any material respect with the information included in the listing particulars. SMBC, having made all reasonable enquiries, confirms that this Offering Circular contains all information with respect to SMBC, the SMBC Group and the Bonds which is material in the context of the issue and offering of the Bonds, the statements contained in it relating to SMBC, the SMBC Group, Sumitomo Mitsui Financial Group, Inc. (‘‘SMFG’’) and SMFG and its subsidiaries and affiliates taken as a whole (the ‘‘SMFG group’’) are in every material particular true and accurate and not misleading, the opinions and intentions expressed in this document with regard to SMBC, the SMBC Group, SMFG and the SMFG group are honestly held, have been reached after considering all relevant circumstances and are based on reasonable assumptions, there are no other facts in relation to SMBC, the SMBC Group, SMFG, the SMFG group or the Bonds the omission of which would, in the context of the issue and offering of the Bonds, make any statement in this document misleading in any material respect and all reasonable enquiries have been made by SMBC to ascertain such facts and to verify the accuracy of all such information and statements. This Offering Circular does not constitute an offer of, or an invitation by or on behalf of SMBC or the Managers (as defined in ‘‘Subscription and Sale’’) to subscribe or purchase, any of the Bonds. The distribution of this Offering Circular and the offering of the Bonds in certain jurisdictions may be restricted by law. Persons into whose possession this Offering Circular comes are required by SMBC and the Managers to inform themselves about and to observe any such restrictions. For a description of certain further restrictions on offers and sales of Bonds and the distribution of this Offering Circular, see ‘‘Subscription and Sale’’. No person is authorised to give any information or to make any representation not contained in this Offering Circular and any information or representation not so contained must not be relied upon as having been authorised by or on behalf of SMBC or the Managers. The delivery of this Offering Circular at any time does not imply that the information contained in it is correct as at any time subsequent to its date. The Bonds have not been and will not be registered under the Securities Act and Bonds in bearer form are subject to U.S. tax law requirements. Subject to certain exceptions, Bonds may not be offered, sold or delivered within the United States or to U.S. persons. The Bonds have not been and will not be registered under the Securities and Exchange Law (as defined in ‘‘Subscription and Sale’’) and are subject to the Special Taxation Measures Law (as defined in ‘‘Subscription and Sale’’). The Bonds may not be offered, sold or delivered in Japan or to, or for the benefit of, residents of Japan or Japanese corporations, except pursuant to an exemption from the registration requirements of, and otherwise in compliance with, the Securities and Exchange Law and any other applicable laws, regulations and ministerial guidelines of Japan (see ‘‘Subscription and Sale’’). Interest payments on the Bonds generally will be subject to Japanese withholding tax unless the holder establishes that the Bonds are held by or for the account of a holder that is not an individual resident of Japan or a Japanese corporation for Japanese tax purposes or is a Japanese designated financial institution described in Article 6 of the Special Taxation Measures Law (see ‘‘Taxation — Japan’’). In addition there are further restrictions on offers and sales of the Bonds in other jurisdictions, including the United Kingdom, Singapore and the Netherlands, see ‘‘Subscription and Sale’’. Unless otherwise specified or the context requires, references to ‘‘dollars’’, ‘‘U.S. dollars’’ and ‘‘U.S.$’’ are to United States dollars and references to ‘‘yen’’ and ‘‘¥’’ are to Japanese yen. Unless otherwise specified, where financial information in relation to SMBC has been translated into U.S. dollars, it has been so translated, for convenience only, at the rate of ¥120.20 equals U.S.$1, the rate applicable as at March 31, 2003. Such translation 2 should not be construed as a representation that the amounts in question have been, could have been or could be converted into U.S.
Load more

Recommended publications
  • Foreign Direct Investment and Keiretsu: Rethinking U.S. and Japanese Policy
    This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: The Effects of U.S. Trade Protection and Promotion Policies Volume Author/Editor: Robert C. Feenstra, editor Volume Publisher: University of Chicago Press Volume ISBN: 0-226-23951-9 Volume URL: http://www.nber.org/books/feen97-1 Conference Date: October 6-7, 1995 Publication Date: January 1997 Chapter Title: Foreign Direct Investment and Keiretsu: Rethinking U.S. and Japanese Policy Chapter Author: David E. Weinstein Chapter URL: http://www.nber.org/chapters/c0310 Chapter pages in book: (p. 81 - 116) 4 Foreign Direct Investment and Keiretsu: Rethinking U.S. and Japanese Policy David E. Weinstein For twenty-five years, the U.S. and Japanese governments have seen the rise of corporate groups in Japan, keiretsu, as due in part to foreign pressure to liberal- ize the Japanese market. In fact, virtually all works that discuss barriers in a historical context argue that Japanese corporations acted to insulate themselves from foreign takeovers by privately placing shares with each other (See, e.g., Encarnation 1992,76; Mason 1992; and Lawrence 1993). The story has proved to be a major boon for the opponents of a neoclassical approach to trade and investment policy. Proponents of the notion of “Japanese-style capitalism” in the Japanese government can argue that they did their part for liberalization and cannot be held responsible for private-sector outcomes. Meanwhile, pro- ponents of results-oriented policies (ROPs) can point to yet another example of how the removal of one barrier led to the formation of a second barrier.
    [Show full text]
  • Group Companies (As of March 31, 2007)
    Group Companies (as of March 31, 2007) SUMITOMO MITSUI Financial Group www.smfg.co.jp/english/ The companies under the umbrella of Sumitomo Mitsui Financial Group Company Name: Sumitomo Mitsui Financial Group, Inc. (SMFG) offer diversified financial services centering on banking opera- Business Description: tions, and including leasing, securities and credit card services, and Management of the affairs of banking subsidiaries (under the stipula- information services. tions of the Banking Law) and of non-bank subsidiaries, and ancillary functions Establishment: December 2, 2002 Our Mission Head Office: 1-2, Yurakucho 1-chome, Chiyoda-ku, Tokyo, Japan Chairman of the Board: Masayuki Oku • To provide optimum added value to our customers (Concurrent President at Sumitomo Mitsui Banking Corporation) and together with them achieve growth President: Teisuke Kitayama To create sustainable shareholder value through (Concurrent Chairman of the Board at Sumitomo Mitsui Banking • Corporation) business growth Capital Stock: ¥1,420.9 billion • To provide a challenging and professionally reward- Stock Exchange Listings: ing work environment for our dedicated employees Tokyo Stock Exchange (First Section) Osaka Securities Exchange (First Section) Nagoya Stock Exchange (First Section) www.smbc.co.jp/global/ SUMITOMO MITSUI Banking Corporation Sumitomo Mitsui Banking Corporation (SMBC) Company Name: Sumitomo Mitsui Banking Corporation was established in April 2001 through the merger Business Profile: Banking of two leading banks, The Sakura Bank, Limited Establishment: June 6, 1996 Head Office: 1-2, Yurakucho 1-chome, and The Sumitomo Bank, Limited. In December Credit Ratings (as of July 31, 2007) Chiyoda-ku, Tokyo 2002, Sumitomo Mitsui Financial Group, Inc. was Long-term Short-term established through a stock transfer as a holding President & CEO: Masayuki Oku Moody’s Aa2 P–1 company, under which SMBC became a wholly Number of Employees: 16,407 S&P A+ A–1 Network: Fitch A F1 owned subsidiary.
    [Show full text]
  • Sony Kabushiki Kaisha
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F n REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 or ¥ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2010 or n TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from/to or n SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report: Commission file number 1-6439 Sony Kabushiki Kaisha (Exact Name of Registrant as specified in its charter) SONY CORPORATION (Translation of Registrant’s name into English) Japan (Jurisdiction of incorporation or organization) 7-1, KONAN 1-CHOME, MINATO-KU, TOKYO 108-0075 JAPAN (Address of principal executive offices) Samuel Levenson, Senior Vice President, Investor Relations Sony Corporation of America 550 Madison Avenue New York, NY 10022 Telephone: 212-833-6722, Facsimile: 212-833-6938 (Name, Telephone, E-mail and/or Facsimile Number and Address of Company Contact Person) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange on Which Registered American Depositary Shares* New York Stock Exchange Common Stock** New York Stock Exchange * American Depositary Shares evidenced by American Depositary Receipts. Each American Depositary Share represents one share of Common Stock. ** No par value per share. Not for trading, but only in connection with the listing of American Depositary Shares pursuant to the requirements of the New York Stock Exchange.
    [Show full text]
  • Roundtable on Competition, Concentration and Stability in the Banking Sector
    For Official Use DAF/COMP/WD(2010)7 Organisation de Coopération et de Développement Économiques Organisation for Economic Co-operation and Development 22-Jan-2010 ___________________________________________________________________________________________ English - Or. English DIRECTORATE FOR FINANCIAL AND ENTERPRISE AFFAIRS COMPETITION COMMITTEE For Official Use DAF/COMP/WD(2010)7 ROUNDTABLE ON COMPETITION, CONCENTRATION AND STABILITY IN THE BANKING SECTOR -- Note by the delegation of Japan -- This note is submitted by the delegation of Japan to the Competition Committee FOR DISCUSSION at its forthcoming meeting to be held on 16 - 17 February 2010 English - Or. English JT03277379 Document complet disponible sur OLIS dans son format d'origine Complete document available on OLIS in its original format DAF/COMP/WD(2010)7 ROUNDTABLE ON COMPETITION, CONCENTRATION AND STABILITY IN THE BANKING SECTOR -- Note by Japan -- 1. Introduction 1. Since the late 1990s, financial institutions accelerated a process of reorganisation, as a result of factors such as (i) financial infrastructure development through progress in the financial system reform, etc., (ii) the necessity of dealing with the non-performing loan problem, (iii) the legalisation of reorganisation schemes, including holding companies, to realise business strategies. Against these contexts, the major banks leading Japan at the time converged into 3 mega bank groups by the middle of 2000s. 2. In this paper, we would like to summarise the progress of regulatory reforms in the financial sector in Japan and the process of reorganisations of financial institutions, after which we will introduce the views of competition law and policy followed by cases regarding reorganisations in the banking sector since the late 1990s.
    [Show full text]
  • Notice of Convocation of the 71St Annual General Meeting of Shareholders
    (Note) This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. Securities Code: 6141 March 4, 2019 To Our Shareholders 106 Kitakoriyama-cho, Yamato-Koriyama City, Nara DMG MORI CO., LTD. Masahiko Mori, President Notice of Convocation of the 71st Annual General Meeting of Shareholders You are cordially invited to attend the 71st Annual General Meeting of Shareholders of DMG MORI CO., LTD. (the “Company”) to be held as described below. In the event that you are unable to attend the meeting, you may exercise your voting rights in writing. Please indicate your approval or disapproval on the enclosed Exercise of Voting Rights form and return the form to us no later than 5:00 p.m. (the end of the business day) on March 20, 2019 after reviewing the attached Reference Material for the General Meeting of Shareholders. 1. Date and time: Friday, March 22, 2019 at 1:00 p.m. Reception for attendees begins at 11:30 a.m. 2. Venue: Grand Hall, DMG MORI YAMATO KORIYAMAJO HALL 211-3 Kitakoriyama-cho, Yamato-Koriyama City, Nara 3. Agenda: Matters to be reported: 1. Business Report, Consolidated Financial Statements and Non-consolidated Financial Statements for the 71st Fiscal Year (from January 1, 2018 to December 31, 2018) 2. Audit Reports of the Consolidated Financial Statements by the Financial Auditor and the Audit & Supervisory Board for the 71st Fiscal Year Matters to be resolved: Proposal 1: Reduction in amount of capital reserve Proposal 2: Appropriation of surplus Proposal 3: Election of eleven (11) Directors Proposal 4: Election of two (2) Audit & Supervisory Board Members Proposal 5: Revision of remuneration amount for Directors Request ◎ Attendees are kindly requested to submit their Exercise of Voting Rights form to the receptionist on the day of the meeting.
    [Show full text]
  • International Trading Companies: Building on the Japanese Model Robert W
    Northwestern Journal of International Law & Business Volume 4 Issue 2 Fall Fall 1982 International Trading Companies: Building on the Japanese Model Robert W. Dziubla Follow this and additional works at: http://scholarlycommons.law.northwestern.edu/njilb Part of the International Law Commons Recommended Citation Robert W. Dziubla, International Trading Companies: Building on the Japanese Model, 4 Nw. J. Int'l L. & Bus. 422 (1982) This Article is brought to you for free and open access by Northwestern University School of Law Scholarly Commons. It has been accepted for inclusion in Northwestern Journal of International Law & Business by an authorized administrator of Northwestern University School of Law Scholarly Commons. Northwestern Journal of International Law & Business International Trading Companies: Building On The Japanese Model Robert W. Dziubla* Passageof the Export Trading Company Act of 1982provides new op- portunitiesfor American business to organize and operate general trading companies. Afterpresenting a thorough history and description of the Japa- nese sogoshosha, Mr. Dziubla gives several compelling reasonsfor Ameri- cans to establish export trading companies. He also examines the changes in United States banking and antitrust laws that have resultedfrom passage of the act, and offers suggestionsfor draftingguidelines, rules, and regula- tionsfor the Export Trading Company Act. For several years, American legislators and businessmen have warned that if America is to balance its international trade-and in particular offset the cost of importing billions of dollars worth of oil- she must take concrete steps to increase her exporting capabilities., On October 8, 1982, the United States took just such a step when President Reagan signed into law the Export Trading Company Act of 1982,2 which provides for the development of international general trading companies similar to the ones used so successfully by the Japanese.
    [Show full text]
  • Whither the Keiretsu, Japan's Business Networks? How Were They Structured? What Did They Do? Why Are They Gone?
    IRLE IRLE WORKING PAPER #188-09 September 2009 Whither the Keiretsu, Japan's Business Networks? How Were They Structured? What Did They Do? Why Are They Gone? James R. Lincoln, Masahiro Shimotani Cite as: James R. Lincoln, Masahiro Shimotani. (2009). “Whither the Keiretsu, Japan's Business Networks? How Were They Structured? What Did They Do? Why Are They Gone?” IRLE Working Paper No. 188-09. http://irle.berkeley.edu/workingpapers/188-09.pdf irle.berkeley.edu/workingpapers Institute for Research on Labor and Employment Institute for Research on Labor and Employment Working Paper Series (University of California, Berkeley) Year Paper iirwps-- Whither the Keiretsu, Japan’s Business Networks? How Were They Structured? What Did They Do? Why Are They Gone? James R. Lincoln Masahiro Shimotani University of California, Berkeley Fukui Prefectural University This paper is posted at the eScholarship Repository, University of California. http://repositories.cdlib.org/iir/iirwps/iirwps-188-09 Copyright c 2009 by the authors. WHITHER THE KEIRETSU, JAPAN’S BUSINESS NETWORKS? How were they structured? What did they do? Why are they gone? James R. Lincoln Walter A. Haas School of Business University of California, Berkeley Berkeley, CA 94720 USA ([email protected]) Masahiro Shimotani Faculty of Economics Fukui Prefectural University Fukui City, Japan ([email protected]) 1 INTRODUCTION The title of this volume and the papers that fill it concern business “groups,” a term suggesting an identifiable collection of actors (here, firms) within a clear-cut boundary. The Japanese keiretsu have been described in similar terms, yet compared to business groups in other countries the postwar keiretsu warrant the “group” label least.
    [Show full text]
  • Business Model Innovation and Strategy at Mitsui and Co
    MITSUI & CO BUSINESS MODEL INNOVATION AND STRATEGY AT MITSUI & CO. S/N 88-17-027 Mitsui & Co. – Business Model innovation and Strategy at Mitsui & Co. Introduction After successive years of profit, Mitsui & Co’s results in financial year Mar 2016 plunged to a net loss of about USD 834 million1. Its significance is compounded by the fact that it was the first loss ever recorded in recent decade of Mitsui. Is this a sign of more fluctuations of earnings to come, signaling that the general trading strategy traditionally held by Mitsui for decades is on the wrong footing with reality? “I take [this financial loss] very seriously,” said president and chief executive officer (CEO) Tatsuo Yasunaga in his maiden message in Mitsui’s 2016 annual report (Mitsui & Co, 2016, p. 8). Adding to this earning fluctuation concern, Mitsui’s 10-year share price has been flat. As illustrated in Figure A in Appendix A, including dividends and share splits, an investor putting money into Mitsui in 2007 would get a 10-year return-on-investment (ROI) of 8.6percent by 2017. From Appendix C, it is observed in the profit margin percentage chart that net profit margins throughout the 10-year period were around 3.5 percent to 7 percent, ignoring the loss in 2016. With profit margins at these relatively moderate to low levels, Mitsui’s revenue has to improve in order for the profits generated to be grown meaningfully. However, receipts remained relatively flat, with 2016’s end-of-year revenue being approximately the same as that of 2007 at about USD 48 billion.
    [Show full text]
  • Sony Financial Holdings Inc
    Profi le Sony Financial Holdings Inc. (SFH) is a fi nancial holding company with three core subsidiaries: Sony Life Insurance Co., Ltd. (Sony Life), Sony Assurance Inc. (Sony Assurance) and Sony Bank Inc. (Sony Bank). Corporate Vision The Sony Financial Group seeks to become the most highly trusted fi nancial services group by cus- tomers. To this end, the Group will combine many different fi nancial functions (savings, investment, borrowing and protection) to provide high-value-added products and high-quality fi nancial services that meet every customer’s fi nancial needs. Corporate Philosophy Put the Customer First We will provide fi nancial products and services that satisfy customers by embracing their individual views, to ensure that we help them lead prosperous lives with fi nancial security. Give Back to Society We believe that a special commitment to the public good is demanded of a fi nancial services company. Conscious of this, we will realize our vision by upholding the highest level of ethics and a strong sense of purpose, and thereby give back to society. In addition, we will fulfi ll our responsibilities as a good corporate citizen and member of society. Strive for Originality We will constantly strive to come up with fresh ideas from basic principles as we pursue creativity and innovation, instead of merely following custom and convention. Foster an Open Corporate Culture We believe that every employee’s contribution is important to develop our ideal of a fi nancial services company. We will thus foster an open corporate culture where employees can freely express their individuality and demonstrate their abilities to the fullest.
    [Show full text]
  • 8. Corporate Information (PDF/1082KB)
    Corporate Information Directors, Corporate Auditors, and Executive Officers Directors, Corporate Auditors, and Executive Officers (As of July 1, 2017) * Shares owned in the Company (As of March 31, 2017) Attendance at meetings of the Board of Directors in fi scal 2016 Directors Kazuo Ohmori Kuniharu Nakamura Naoki Hidaka Chairman Representative Director Representative Director *88,200 shares 18/18 *87,800 shares 18/18 *61,200 shares 18/18 April 1971 April 1974 April 1976 Entered the Company Entered the Company Entered the Company June 2013 June 2012 April 2015 Chairman of Representative Director, Representative Director, the Board of Directors President and CEO Executive Vice President, June 2017 General Manager, Representative Director, Transportation & President and Construction Systems Chief Executive Offi cer Business Unit Hideki Iwasawa Koichi Takahata Masao Tabuchi Representative Director Representative Director Representative Director *40,200 shares 18/18 *24,600 shares 15/15 *21,100 shares 18/18 April 1977 April 1978 April 1980 Entered the Company Entered the Company Entered the Company April 2017 April 2017 April 2017 Representative Director, Representative Director, Representative Director, Executive Vice President, Senior Managing Senior Managing Executive Chief Administration Offi cer Executive Offi cer, Offi cer, Chief Strategy and Chief Compliance Offi cer Chief Financial Offi cer Offi cer and Chief Information Offi cer Yayoi Tanaka Independent Director Koji Ishida Independent Director Outside Director Outside Director *1,300
    [Show full text]
  • ISSN 1045-6333 the FABLE of the KEIRETSU Yoshiro Miwa J. Mark Ramseyer Discussion Paper No. 316 3/2001 Harvard Law School Cambri
    ISSN 1045-6333 THE FABLE OF THE KEIRETSU Yoshiro Miwa J. Mark Ramseyer Discussion Paper No. 316 3/2001 Harvard Law School Cambridge, MA 02138 The Center for Law, Economics, and Business is supported by a grant from the John M. Olin Foundation. This paper can be downloaded without charge from: The Harvard John M. Olin Discussion Paper Series: http://www.law.harvard.edu/programs/olin_center/ JEL: G3, K2, L1, P5 Address correspondence to: University of Tokyo Faculty of Economics 7-3-1 Hongo, Bunkyo-ku, Tokyo FAX: 03-5841-5521 [email protected] [email protected] The Fable of the Keiretsu by Yoshiro Miwa & J. Mark Ramseyer* Abstract: Central to so many accounts of post-war Japan, the keiretsu corporate groups have never had economic substance. Conceived by Marxists committed to locating "domination" by "monopoly capital," they found an early audience among western scholars searching for evidence of culture-specific group behavior in Japan. By the 1990s, they had moved into mainstream economic studies, and keiretsu dummies appeared in virtually all econometric regressions of Japanese industrial or corporate structure. Yet the keiretsu began as a figment of the academic imagination, and they remain that today. The most commonly used keiretsu roster first groups large financial institutions by their pre-war antecedents. It then assigns firms to a group if the sum of its loans from those institutions exceeds the amount it borrows from the next largest lender. Other rosters start by asking whether firm presidents meet occasionally with other presidents for lunch. Regardless of the definition used, cross-shareholdings were trivial even during the years when keiretsu ties were supposedly strongest, and membership has only badly proxied for "main bank" ties.
    [Show full text]
  • Year Ended March 31, 2009 Corporate Mission, Vision and Values
    MITSUI & CO., LTD. Annual Report 2009 Year ended March 31, 2009 Corporate Mission, Vision and Values Over a period of many years, Mitsui has developed a set of values— including challenge and innovation, open-mindedness, and nurturing human resources—that have helped shape the Mitsui of today. In August 2004, these concepts were redefi ned as Mitsui’s Mission, Vision and Values (“MVV”). By ensuring that the MVV are refl ected in the activities of every person in the organization, Mitsui aims to create further value by bringing together the strengths of its individuals. The continuous growth of the Company depends on Mitsui being trusted and needed by its stakeholders in Japan and around the world, and by retaining a strong awareness of this at all levels of the Company, Mitsui intends to fulfi ll its social responsibilities as a sound corporate citizen. CONTENTS Financial Highlights 2 To Our Investors 4 Highlights & Strategy by Operating Segment 10 Corporate Social Responsibility (CSR) 24 Corporate Governance and Internal Controls 26 Directors and Corporate Auditors 28 Major Subsidiaries and Associated Companies 30 Historical Financial Data 34 Organizational Structure 36 Investor Information 37 Mitsui & Co’s Mission Strive to contribute to the creation of a future where the aspirations of the people can be fulfi lled. Mitsui & Co’s Vision Aim to become a global business enabler 20-F Further information is available where you see this icon. Information is contained in the comprehensive Form 20-F that can meet the needs of our customers report fi led with the SEC in the United States in July 2009.
    [Show full text]