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Signing of the Company Split Agreement on Asset Management Functions of the Group

October 1, 2019

Resona Holdings, Inc.

Resona Holdings (President: Kazuhiro Higashi) has been preparing for dividing asset management functions of Resona Bank (President: Kazuhiro Higashi) and integration into Resona Asset Management (President: Akihiko Nishioka). We hereby announce that Resona Holdings, Resona Bank and Resona Asset Management have entered into a company split agreement, following the resolutions adopted by their respective boards of directors.

The company split and integration of asset management functions is subject to regulatory approval.

Consolidation of asset management functions of the Group

The Resona Group consolidates asset management resources into Resona Asset Management with the aim of strengthening the asset-management capability of the Group. The Group also intends to establish a system to provide high-quality asset management services for retail clients, as well as for institutional investors. We also will continually engage in stewardship activities including dialogue and engagement with investee companies more effectively.

Strengthening governance as an investment company

In order to further strengthen our investment governance, Resona Asset Management plans to transition from a Company with Board of Company Auditors to a Company with an Audit and Supervisory Committee, with newly-appointed two outside directors. Resona Asset Management as an investment manager will strengthen the supervision and check function and the management regarding conflict of interest.

Encouraging household asset building by cooperating with regional financial institutions

The Resona Group will provide regional financial institutions with an asset building support knowledge and ability accumulated through our business experience in the Group, and through their network high-quality asset management services of Resona Asset Management in order to realize growing wealth to wide-range of customers.

Summary of the Company Split Agreement (including overview of the Newly Integrated Company)

Integration date January 1, 2020
Method of the Integration Rights and obligations relating to part of the asset management operations of Resona Bank will be transferred to Resona Asset Management.
Company Name Resona Asset Management Co., Ltd.
Head Office Fukagawa Gatharia W2 Bldg., 5-65, Kiba 1-Chome, Koto-ku, Tokyo
Representative Akihiko Nishioka, Representative Director
Lines of Business Investment management business, investment advisory and agency business
Capital Stock 1,000 million yen
Major Shareholders Resona Holdings - 100%
Governance Structure Company with an Audit and Supervisory Committee
Expected Directors Refer to the attached PDF
Organizational Structure Refer to the attached PDF

Summary of the Parties (As of March 30, 2019)

Company NameResona Bank, LimitedResona Asset Management Co., Ltd.
Head Office 2-1, Bingomachi 2-chome, Chuo-ku, Osaka Fukagawa Gatharia W2 Bldg., 5-65, Kiba 1-Chome, Koto-ku, Tokyo
Representative Kazuhiro Higashi, Representative Director Akihiko Nishioka, Representative Director
Lines of Business Banking business, trust banking business Investment management business, investment advisory and agency business
Capital Stock 279,928 million yen 1,000 million yen
Establishment Date May 15, 1918 August 3, 2015
Number of Shares Issued 134,979,000,000 shares 3,960,000 shares
End of Fiscal Year March 31 March 31
Number of Employees 9,001 38
Major Shareholders Resona Holdings - 100% Resona Holdings - 100%
Assets Under Management (AUM) 16,415.7 billion yen
As of March 31, 2019
977.4 billion yen
As of March 31, 2019
Most Recent Earnings:Fiscal year 2019 Ordinary income 493.7 billion yen
Ordinary profits 130.7 billion yen
Net income 907 billion yen
Operating income 1.82 billion yen
Ordinary profits 0.22 billion yen
Net income 0.16 billion yen
  • *With regard to "Expected Directors" and "Organizational Structure", please refer to the attached PDF.
Download PDF File