Japan's Consolidating Banking System: How Eighteen Became Six
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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 Red border between of Daiwa Bank, Kinki Asahi Bank (TSE 8308) including Osaka Bank and Nara Bank. Resona Bank which does indicates current (1991 merger of Kyowa 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. 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.A plan to merge Aozora with including Shinsei was abandoned in May 2010. In August 2013 Mizuho Trust & Banking (TSE 8404) Cerberus sold all its remaining shares through Barclays. Industrial Bank of Japan . Tokyo Sowa Bank entered administration in 1999. In 2001 it Sakura Bank was bought by US’s Lone Star, renamed Tokyo Star. In 2005 (1990 merger of Mitsui Bank April 2001 form it listed on TSE. In 2008 it was acquired by Advantage and Taiyo Kobe Bank) Sumitomo Mitsui Banking Group Partners. with loans from a syndicate including Lone Star and in December 2002 becomes Shinsei. With Advantage unable to repay the loans, Sumitomo Mitsui Financial Group Sumitomo Bank ownership passed to the lending syndicate which in July 2013 (TSE 8316) was poised to sell to Taiwan’s Chinatrust Commercial Bank. On 1 April 2012 Failed in November 1997. In form Sumitomo Mitsui Hokkaido Takushoku Bank February 1998 mainland Japan business absorbed by Chuo. February 2002 becomes Trust Holdings [TSE June 2001 acquires Mitsui Trust Holdings (TSE 8309) 8309] of which the Chuo Trust & Banking Sakura Trust & Banking including merged Sumitomo from Sumitomo Mitsui April 2000 form Chuo Mitsui Trust & Banking and Mitsui Trust Bank is Chuo Mitsui Trust & Banking Banking Corp Mitsui Trust & Banking Chuo Mitsui Asset Trust & Banking part. Note that this holding company is Sumitomo Trust & Banking separate from Sumitomo © 2013 Jo McBride/ Japan Pensions Industry Database. Mitsui Financial Group). This notice must appear on any reproduction .