Announcement Regarding the Merger Between Consolidated Subsidiaries of Resona Holdings, Inc.
July 27, 2018
Resona Holdings, Inc.
Resona Holdings Inc. ("RHD" hereafter) announces that Kansai Mirai Financial Group, Inc. ("KMFG" hereafter, President: Tetsuya Kan), one of consolidated subsidiaries of RHD, has passed a resolution at its board meeting held today concerning the matters described in the following in relation to the merger between its fully-owned subsidiaries, Kansai Urban Banking Corporation ("KU" hereafter, President: Kazumasa Hashimoto) and The Kinki Osaka Bank, Ltd. ("KO" hereafter, President: Koji Nakamae), subject to approvals from relevant authorities.
RHD will also prepare for and extend supports for the merger, with a view to enhancing conveniences for customers and completing the planned systems integration successfully, in close corporations with KMFG and related entities.
1. Effective Date of the Merger
Monday, April 1, 2019
KU and KO will merge subject to resolutions obtained at their general shareholders' meetings and approvals from relevant authorities. The merger contract will be concluded in the due course in reference to the progress of merger discussion.
2. Outline of the New Bank After the Merger
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Kansai Mirai Bank, Limited ("KMB" hereafter)
KO, as an absorbing and surviving company, will change its corporate name on the effective merger date. |
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2-1, Bingomachi 2-chome, Chuo-ku, Osaka-shi |
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KMB will locate its planning and administrative divisions in the current KO's head office in order to complete the planned systems integration successfully, continue close communications with RHD and streamline back-office divisions in close corporation with KMFG. |
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JPY 38.9 billion |
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Regional Banks Association of Japan |
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0159 (the current bank code of KO) |
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Absorption-type merger in which KO will be a surviving company and KU will be a disappearing company |
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KO will not distribute any shares or cash to KU's existing shareholders. |
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Tuesday, October 15, 2019 |
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[Concept] Three lines represent "Customer", "Regional Community" and "Bank tackling reforms". The logo expresses that KMB and the communities it serves will walk and grow together, and that KMB cherishes the ties with people. The color gradation changing from light green to dark shows growth to the future as new leaves grow. |
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Green To express the sense of unity as a member of Resona Group, KMB will adopt Green as its corporate color |
Corporate Information of Related Companies as of March 31, 2018
Corporate Name | Kansai Urban Banking Corporation | The Kinki Osaka Bank, Ltd. |
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Head Office Address | 2-4, Nishi-Shinsaibashi 1-chome, Chuo-ku, Osaka-shi | 2-1, Bingomachi 2-chome, Chuo-ku, Osaka-shi |
Representative | Kazumasa Hashimoto Representative Director and President |
Koji Nakamae Representative Director and President |
Description of Business | Banking business | Banking business |
Paid-in Capital | JPY 47.0 billion | JPY 38.9 billion |
Date of Incorporation | July 1, 1922 | November 24, 1950 |
Number of Issued Shares | Common stock 73,791,000 shares | Common stock 1,827,196,000 shares |
Fiscal Year-end | March 31 | March 31 |
Number of Employees | 2,638 | 2,185 |
Major Shareholders and Ownership Ratio | KMFG 100% | KMFG 100% |
- *Major shareholders and ownership ratio as of April 1, 2018
3. Potential Impact of the Merger on Profit Guidance Issued by RHD
The merger will not affect the RHD's profit guidance for fiscal year 2018.
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