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FINWIRES

Aichi Financial Group and San ju San Financial Group to Merge

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Aichi Financial Group (TYO:7389) and San ju San Financial Group (TYO:7322) will create a regional banking group with total assets worth more than 11.6 trillion yen, based on a basic agreement signed on Wednesday.

The two companies aim to complete the business integration through an absorption-type merger by April 1, 2027, following the execution of a definitive agreement in September 2026 and shareholder approvals in December 2026.

The merger is driven by the need to respond to Japan's declining population, the transition to a "world with interest rates," and intensifying competition from IT and digital technologies.

The companies will maintain their separate bank brands after integration, operating under a two-brand structure.

The merger remains subject to obtaining necessary approvals from relevant regulatory authorities, and the merger ratio will be determined later based on due diligence and third-party valuation.

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