OREANDA-NEWS. The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), its equity-method accounted affiliate THE TAISHO BANK, LTD. (TAISHO Bank) and TOMONY Holdings, Inc. (TOMONY Holdings) today signed a basic agreement regarding the business integration of TAISHO Bank and TOMONY Holdings.

As a result of this business integration, TAISHO Bank will become a wholly-owned subsidiary of TOMONY Holdings and will no longer be an affiliate of Mitsubishi UFJ Financial Group, Inc. (MUFG) or of BTMU. Looking ahead, TAISHO Bank and TOMONY Holdings aim to strengthen their management and business base to achieve sustained growth and increased corporate value, while contributing to the development of economy and society in the Shikoku and Kansai regions including Osaka Prefecture as a broad ranging regional financial group.

The two companies plan to sign a definitive agreement in September 2015 under which TAISHO Bank will become a wholly-owned subsidiary of TOMONY Holdings effective April 1, 2016. MUFG and BTMU will cooperate in realizing the business integration of the two companies.