The Hachijuni Bank, Ltd. entered a basic agreement to acquire The Naganobank, Ltd. from The Master Trust Bank of Japan, Ltd. (Trust Account), Custody Bank of Japan, Ltd. (Trust Account), The Tochigi Bank, Ltd., Kissei Pharmaceutical Co., Ltd.,Sompo Japan Insurance Inc. and others for ¥10.8 billion.
September 27, 2022
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The Hachijuni Bank, Ltd. (TSE:8359) entered a basic agreement to acquire the remaining 98.33% stake in The Naganobank, Ltd. (TSE:8521) from The Master Trust Bank of Japan, Ltd. (Trust Account), Custody Bank of Japan, Ltd. (Trust Account), The Tochigi Bank, Ltd. (TSE:8550), Kissei Pharmaceutical Co., Ltd. (TSE:4547),Sompo Japan Insurance Inc. and others for ¥10.8 billion on September 28, 2022. The Hachijuni Bank, Ltd. (TSE:8359) signed a share exchange agreement to acquire the remaining 98.33% stake in The Naganobank, Ltd. (TSE:8521) from The Master Trust Bank of Japan, Ltd. (Trust Account), Custody Bank of Japan, Ltd. (Trust Account), The Tochigi Bank, Ltd. (TSE:8550), Kissei Pharmaceutical Co., Ltd. (TSE:4547),Sompo Japan Insurance Inc. and others for ¥10.8 billion on January 20, 2023. Hachijuni Bank will issue 2.54 shares for every one share of Naganobank.
The transaction is subject to approval by the Meeting of the General Shareholders of Nagano Bank and the necessary permits and approvals by relevant authorities. The transaction is expected to close on June 1, 2023. Nomura Securities Co., Ltd. acted as fairness opinion provider to Hachijuni Bank.
Iwata Godo Attorneys and Counselors at Law acted as legal advisor to Hachijuni Bank. Daiwa Securities Co. Ltd. acted as fairness opinion provider to Naganobank.
Nagashima Ohno & Tsunematsu acted as legal advisor to Naganobank. DC Advisory acted as financial advisor to Naganobank.
THE TOCHIGI BANK, LTD. (the Bank) is a Japan-based regional bank mainly engaged in the provision of financial services, with a focus on banking services. The Bank operates in two businesses. The banking business is engaged in the provision of deposit services, loan services, and domestic and foreign exchange services, securities trading and investment services, bonds services and the registration service and other services, as well as the over-the-counter sale of insurance products. The Leasing segment is engaged in the provision of equipment leasing services, housing loan guarantee services, credit card services and others. The other business is engaged in provision of equipment leasing services, housing loan guarantee services, securities buying and selling service, credit card services and others.
The Hachijuni Bank, Ltd. entered a basic agreement to acquire The Naganobank, Ltd. from The Master Trust Bank of Japan, Ltd. (Trust Account), Custody Bank of Japan, Ltd. (Trust Account), The Tochigi Bank, Ltd., Kissei Pharmaceutical Co., Ltd.,Sompo Japan Insurance Inc. and others for ¥10.8 billion.
THE TOCHIGI BANK, LTD. 
