To whom it may concern:
June 3, 2016
Sumitomo Mitsui Trust Holdings, Inc. |
Sumitomo Mitsui Trust Bank, Limited. |
Sumitomo Mitsui Trust Bank, Limited (President: Hitoshi Tsunekage; hereinafter "SuMi TRUST Bank"), a subsidiary of Sumitomo Mitsui Trust Holdings, Inc. (President: Kunitaro Kitamura; hereinafter "SuMi TRUST Holdings") hereby announces that it has entered into a Business and Capital Alliance Agreement (this alliance, hereinafter "Business and Capital Alliance") with Tokyo TY Financial Group, Inc. (President: Keizo Ajioka, hereinafter "Tokyo TYFG") as below.
Background and purpose of Business and Capital Alliance
Tokyo TYFG is a regional financial institution group that affiliates The Tokyo Tomin Bank, Limited (President: Takashi Sakamoto; hereinafter "Tokyo Tomin Bank"), The Yachiyo Bank, Limited (President: Hirokazu Tahara; hereinafter "Yachiyo Bank") and ShinGinko Tokyo, Limited (President: Hidenori Tsunehisa; hereinafter "ShinGinko Tokyo"), all of whose head offices are in Tokyo. Tokyo TYFG is one of the regional financial institutions which have the largest network of branches in Tokyo metropolitan area centering on Tokyo and Kanagawa, and has been proactively aiming to enhance market competitiveness by expanding financial service functions to serve diverse and developed customer needs.
SuMi TRUST Bank has entered into a business and capital alliance agreement with Yachiyo Bank in March 2006. By way of mutual support between the banks which have little overlap in terms of business and customer bases, SuMi TRUST Bank has provided various products and services such as testamentary trust and estate settlement services, investment trusts to customers within Tokyo metropolitan area, which have led to a steady accomplishment of such business alliance.
We believe that, by adding Tokyo Tomin Bank to the existing business alliance with Yachiyo Bank, we can maximize each bank's strength and further enhance our management base and strengthen our profitability by providing high level financial services to wider variety of needs from Tokyo metropolitan area based customers. Therefore, we have reached a conclusion that we invite Tokyo TYFG and Tokyo Tomin Bank to the existing business and capital alliance relationship.
Furthermore, from the perspective of driving this alliance under firm mutual trust, SuMi TRUST Bank will make an investment in First series of Class I Preferred Stock to be issued by Tokyo TYFG by way of third party allotment as a basis of the Business and Capital Alliance.
Major content of Business and Capital Alliance
Business Alliance
Tokyo TYFG, Yachiyo Bank, Tokyo Tomin Bank and SuMi TRUST Bank will mutually introduce customers and deals and provide sales support regarding business mainly related to products and services stated below.
Service and Products to wholesale customer
Business Matching, Real Estate secured finance, Credit Securitization, Finance business such as Syndicated Loan, Real Estate Non-Recourse Loan, Project Finance, and PFI., Corporate revitalization, M&A and Business inheritance consulting, Business in Overseas Bases, Leasing
Service and Products to retail customer
Testamentary trust and estate settlement services, Inheritance related business, Products conducible to asset management business such as investment trusts, deposits and trust products, Loan business such as Real Estate secured finance, Opening up ATMs to mutual customers on a free of charge basis
Capital Alliance
SuMi TRUST Bank will make an investment in First series of Class I Preferred Stock to be issued by Tokyo TYFG by way of third party allotment stated below.
1)
Payment Date
June 24, 2016
2)
Number of Shares
750,000 shares
3)
Issue Price
JPY 20,000 per share
4)
Payment Amount
JPY 15 Billion
Outline of counterparties of the Business Alliance (as of the date on which the share exchange transaction was effected (April 1, 2016))
New counterparties of the business alliance
Tokyo TYFG
Name
Tokyo TY Financial Group Inc.
Location
5-9-2 Shinjuku, Shinjuku-ku, Tokyo
Representative
President: Keizo Ajioka
Main Business
Bank holding company
Capital Stock
JPY 20,000 Million
Date of establishment
October 1, 2014
Major shareholders and proportion of shares held
Japan Trustee Services Bank, Ltd. (Trust Account) Sumitomo Mitsui Trust Bank, Limited
Tokyo Metropolitan
7.64%
7.47%
3.90%
Mizuho Bank, Ltd.
Mitsui Sumitomo Insurance Company, Limited The Master Trust Bank of Japan, Ltd. (Trust Account) Yachiyo Bank Employees Association
CBNY DFA INTL SMALL CAP VALUE PORTFOLIO
Tokyo Tomin Bank Employees Association
Japan Trustee Services Bank, Ltd. (Trust Account 9)
2.33%
2.07%
1.58%
1.52%
1.36%
1.32%
1.26%
Note: Tokyo TYFG has carried out a share exchange transaction effective as of April 1, 2016 in which Tokyo TYFG became the wholly owning parent company and ShinGinko Tokyo became the wholly owned subsidiary.
Tokyo Tomin Bank
Name
Tokyo Tomin Bank, Limited
Location
2-3-11 Roppongi, Minato-ku, Tokyo
Representative
President: Sakamoto Takashi
Main Business
Banking business
Capital Stock
JPY 48,120 Million
Date of establishment
December 12, 1951
Major shareholder and
proportion of shares held
Tokyo TY Financial Group Inc.
100%
Counterparty of existing business alliance
Name
Yachiyo Bank, Limited
Location
5-9-2 Shinjuku, Shinjuku-ku Tokyo
Representative
President: Hirokazu Tahara
Main Business
Banking business
Capital Stock
JPY 43,734 Million
Date of establishment
December 6, 1924
Major shareholder and
proportion of shares held
Tokyo TY Financial Group Inc.
100%
Schedule of the Business and Capital Alliance
June 3, 2016 (Today)
Execution of the Business and Capital Alliance Agreement
June 24, 2016 (scheduled)
Issuance and Payment Date of Tokyo TYFG First series of Class I Preferred Stock
Outlook
This transaction will have no impact on the earnings forecasts for the fiscal year ending March 2017 of SuMi TRUST Holdings and SuMi TRUST Bank.
End.
For further information, please contact:
IR Department, Sumitomo Mitsui Trust Holdings, Inc. Telephone: +81-3-3286-8354
Facsimile: +81-3-3286-4654
Sumitomo Mitsui Trust Holdings Inc. published this content on 03 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 03 June 2016 07:26:12 UTC.
Original documenthttp://www.smth.jp/en/news/2016/E160603.pdf
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