The Hachijuni Bank, Ltd. completed the acquisition of the remaining 98.33% stake in 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.
June 31, 2023
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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 Hachijuni Bank, Ltd. (TSE:8359) completed the acquisition of 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 on June 1, 2023.
Tochigi Bank Ltd is a Japan-based regional bank mainly engaged in the provision of financial services including banking services, financial instruments trading, leasing, credit guarantee and card business. The Bank operates in two business segments. The Banking segment is engaged in the provision of deposit services, loan services, trading of commodity securities, over-the-counter sales of securities investment trusts, over-the-counter sales of life and non-life insurance products, securities investment services, domestic exchange services, foreign exchange services, bond acceptance and registration services, and other incidental services. The Financial Instruments Trading segment is engaged in the trading of securities. The other businesses include leasing business such as the leasing of equipment, credit guarantee business such as mortgage guarantee business, card business such as credit card business, renewable energy power generation, sales business and consulting business.
The Hachijuni Bank, Ltd. completed the acquisition of the remaining 98.33% stake in 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.