The Bank of Nagoya, Ltd.
Basic Agreement on Business Integration
Shizuoka Financial Group, Inc. and The Nagoya Bank, Limited have concluded a basic agreement to carry out business integration through a share exchange targeted for April 1, 2028.
Key Figures
- Capital (Shizuoka FG): 90,000 million yen
- Total Shares Issued (Shizuoka FG): Common shares 580,129 thousand shares
- Share Exchange Effective Date: Scheduled for April 1, 2028
AI要約
Overview of Business Integration
Shizuoka Financial Group, Inc. (Shizuoka FG) and The Nagoya Bank, Limited have signed a basic agreement to conduct business integration through a share exchange, with Shizuoka FG becoming the wholly owning parent company of Nagoya Bank, targeted for April 1, 2028. Both banks have leveraged their strong business and customer bases as regional financial institutions, having commenced a comprehensive business partnership in April 2022 and promoted cooperation by utilizing each other's management resources. Post integration, a two-bank system will be maintained while aiming to enhance corporate value and regional financial strength under a holding company structure.
Future Schedule and Outlook
Going forward, the final contract and share exchange agreement are planned to be concluded in March 2027, followed by an extraordinary shareholders meeting of Nagoya Bank in December of the same year, with the effective date of the share exchange set for April 1, 2028. The share exchange ratio will be determined based on due diligence results and evaluations by a third-party appraisal organization. The impact of the business integration on consolidated results for the fiscal year ending March 2026 is currently expected to be minimal, and any necessary revisions to earnings forecasts will be promptly disclosed.
