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TYO:7389

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Asia

Aichi Financial and San ju San Financial Abort Planned Merger

Aichi Financial (TYO:7389) and San ju San Financial (TYO:7322) have mutually agreed to cancel their May 13 basic agreement for a merger-driven business integration.The two firms had originally established an integration preparation committee and held multiple rounds of consultations toward completing the integration with a target date of April 1, 2027.However, differences over the direction of the integrated holding company and other matters made executing the final agreement, scheduled for September, difficult, according to a Tokyo bourse filing on Thursday.Despite dissolving the basic agreement, both companies stated they will continue to coordinate on matters such as contributing to the regional economy and society and addressing customer issues.

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Asia

Aichi Financial, San ju San Financial Agree to Pursue Merger in 2027

Aichi Financial Group (TYO:7389) and San ju San Financial Group (TYO:7322) agreed to pursue a business integration through a merger targeted for April 2027, creating a regional banking group with combined assets of about 11.6 trillion yen, according to a Thursday filing on the Tokyo Stock Exchange.Shares of Aichi Financial fell more than 1%, while San ju San's shares slipped almost 4% in recent trading.The companies said they signed a basic agreement to proceed with discussions on the integration, which is expected to strengthen their presence across Japan's Tokai region, including Aichi and Mie prefectures.The combined entity would have about 10 trillion yen in deposits, 8.2 trillion yen in loans, more than 5,000 employees and 362 branches, according to presentation materials released Wednesday.The companies said the integration is intended to improve competitiveness as regional lenders face demographic challenges, intensifying competition and growing digitalization demands.The transaction is expected to be structured as an absorption-type merger between the holding companies, though the surviving entity has not yet been determined.The companies plan to sign a definitive agreement in September, seek shareholder approval in December and complete the merger on April 1, 2027, subject to regulatory approvals.

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Asia

Aichi Financial Group and San ju San Financial Group to Merge

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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