Japanese lender Bank of Yokohama and Higashi-Nippon Bank have agreed to merge under their new holding company Concordia Financial Group.
Go deeper with GlobalData
Under the terms of the merger deal, each Bank of Yokohama share will swap for one Concordia Financial Group share, and each Higashi-Nippon Bank share for 0.541 share of the new holding company.
The two lenders intend to launch joint branches and integrate their computer systems upon merger.
Following the merger, Bank of Yokohama president Tatsumaro Terazawa will assume the role of president of Concordia Financial Group, while Higashi-Nippon Bank president Michitoo Ishii will become vice president.
The transaction is subject to regulatory and shareholders’ approval of both the banks.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
