Resona Holdings Co., Ltd.

Resona Holdings , Inc. Japanese financial holding company and owns Resona Bank and Saitama Resona Bank. The name "Resona Group" is used as a financial group. The company's head office is located in Chuo-ku, Osaka City, Osaka Prefecture and Koto-ku, Tokyo, and is listed on the Tokyo Stock Exchange Prime Market. It is one of the constituent stocks of the Nikkei Stock Average, TOPIX Large70, and JPX Nikkei Index 400.

overview

is the predecessor of Daiwa Bank Holdings, Inc. , which was established in December 2001 as a joint financial holding company between Yamato Bank, Inc., Kinki Osaka Bank, Inc., and Nara Bank Asahi Bank Co., Ltd. merged with business in March 2002, and in April of the same year the name "Resona Group" was adopted. Furthermore, in October of the same year, the company changed its name to the current Resona Holdings Co., Ltd. In March 2003, Yamato Bank and Asahi Bank, which are the holding companies, merged and split, and new "Resona Bank" and "Saitama Resona Bank" were established.

Management restructuring and nationalization

In the fiscal year ending March 2003, due to differences in views between audit firms regarding recognition of deferred tax assets, Resona Bank's capital adequacy ratio is expected to reach a level below the domestic standard of 4% due to differences in views between audit firms regarding the recognition of deferred tax assets. For this reason, on May 17th of the same year, he applied for public funding injections (measure No. 1) under Article 102 of the Deposit Insurance Act, and was certified by Prime Minister Koizumi Junichiro. In June, the company issued 1.96 trillion yen of preferred and common stock, underwriters of the Japan Deposit Insurance Agency (Special Financial Crisis Account Line), and effectively nationalised the company.

After that, the company adopted a strategy to concentrate management resources on transactions aimed at individuals and small and medium-sized enterprises, while implementing cost-cutting measures such as reducing wages for all employees and hiring. This has led to a successful secured certain amount of revenue and expanded the internal reserves. As a result, the repayment of public funds progressed in stages, and in June 2015 the entire amount was paid off.

Recent trends

After paying off public funds, the company actively invests in growth and established the group brand slogan "Connect your feelings and turn the future into reality." In October 2015, the company introduced a full-time, smart employee system that does not work overtime, and promotes work style reform.

Resona Holdings aims to strengthen regional finance and sustainable growth, and operates its business mainly in financial services for individuals and small and medium-sized enterprises.