The Chiba Kogyo Bank, Ltd.
Conclusion of Final Agreement Regarding Establishment of Joint Holding Company by Chiba Bank, Ltd. and Chiba Kogyo Bank, Ltd. (Joint Share Transfer)
Chiba Bank, Ltd. and Chiba Kogyo Bank, Ltd. plan to establish the joint holding company "Chiba Financial Group, Inc." on April 1, 2027, which will become the wholly-owning parent company of both banks through a joint share transfer.
Key Figures
- Capital of Joint Holding Company: ¥150 billion
- Share Transfer Ratio (Common Stock): 1:1
- Effective Date of Business Integration: 2027-04-01
AI要約
Overview of Business Integration
Chiba Bank, Ltd. and Chiba Kogyo Bank, Ltd. have resolved and concluded a final agreement to establish the joint holding company "Chiba Financial Group, Inc." effective April 1, 2027, through a joint share transfer, making both banks wholly owned subsidiaries. The objectives of the business integration include strengthening regional financial capabilities, contributing to sustainable regional economic growth, enhancing customer experience, and efficiently utilizing management resources.
Details and Schedule of Share Transfer
The share transfer will be conducted via a joint share transfer method, allocating one share of the joint holding company’s common stock in exchange for one share of common stock from either Chiba Bank or Chiba Kogyo Bank. The share transfer plan document will be prepared by September 30, 2026, and approved at an extraordinary shareholders meeting scheduled for December 23 of the same year. Both banks will delist from the Tokyo Stock Exchange on March 30, 2027, with the joint holding company established and listed on April 1, 2027. The fairness of the share transfer ratio is guaranteed by Mitsubishi UFJ Morgan Stanley Securities and Mizuho Securities as third-party valuation institutions.
Synergies and Strategy of Business Integration
The integration aims to expand the customer base, enhance products and services, and improve efficiency through the sharing of management resources, targeting synergy effects of ¥4 to 6 billion in fiscal 2028 and ¥12 to 16 billion in fiscal 2031. System integration, digital transformation (DX) and AI utilization, as well as strengthening human resource development, will be promoted to reinforce regional financial strength and realize a sustainable regional society.
Outlook and Conditions
The business outlook of the joint holding company will be formulated going forward. The business integration will be executed subject to approval at shareholders meetings and obtaining consent and approvals from relevant authorities. Both banks have also decided on a policy for share buybacks, aiming to enhance corporate value and contribute to the region after the integration.
