Tokai and Sanwa to go ahead with merger plan

TOKYO, Japan - Kaneo Muromaci (L), president of Sanwa Bank, and Hideo Ogasawara, president of Tokai Bank, meet reporters at a news conference in Tokyo on June 15 follwong Asahi Bank's announcement of a decision to pull out of a tripartite alliance. Tokai and Sanwa said they have agreed to start talks on setting up a joint holding company in April 2001 and possibly a merger in April 2002.

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