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(1)New banks, nonlife insurers kick off operations

TOKYO, Japan - Hideo Ogasawara, president of UFJ Holding Inc., a holding firm of Sanwa Bank, Tokai Bank and Toyo Trust & Banking Co., speaks at the company's opening ceremony in Tokyo on April 2. Three new megabank groups -- Sumitomo Mitsui Banking Corp., formed by the merger of Sumitomo Bank and Sakura Bank, Mitsubishi Tokyo Financial Group Inc., a merged body of the Bank of Tokyo-Mitsubishi, Mitsubishi Trust & Banking Co. and Nippon Trust Bank, as well as UFJ Holdings Inc. -- began operations the same day.

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Mitsui Construction unveils management reform plan

TOKYO, Japan - Kazuhiro Inamura, president of financially troubled Mitsui Construction Co., speaks at a news conference Dec. 29 on a new mid-term management reform plan. He said his firm will ask Sakura Bank and other major creditor banks to waive a total 163 billion yen in claims on their outstanding loans.

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Financial Services Agency OKs Sumitomo-Sakura merger

TOKYO, Japan - Sumitomo Bank President Yoshifumi Nishikawa (R) and Sakura Bank President Akishige Okada meet the press at the Financial Services Agency in Tokyo Dec. 26 after the agency approved a merger of the two lenders. The major Japanese commercial banks plan to combine as the Sumitomo Mitsui Banking Corp. in April.

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11 firms, banks led by Sony to push electric money payments

TOKYO, Dec. 25 - Tamotsu Iba (C), vice chairman of Sony Corp, and representatives from six other companies join hands at a hotel in Tokyo's Chiyoda Ward on Dec. 25 after announcing their agreement to set up a joint venture in January to promote electric-money services based on prepaid-card technology developed by Sony. Other participants in the joint venture include NTT DoCoMo Inc., Sakura Bank, the Bank of Tokyo-Mitsubishi, Toyota Motor Corp., Denso Corp., and KDDI.

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Japan's first Web bank to launch

TOKYO, Japan - Representatives of Sakura Bank and other investors in Japan's first Web bank -- including Tokyo Electric Power Co., Fujitsu Ltd. and NTT DoCoMo Inc. -- join hands at a news conference at a Tokyo hotel Oct. 11, the eve of the start of the bank's operations. Japan Net Bank is set to become the first bank in Japan to enable computer users to pay for goods and services on the basis of their deposits at the bank, and to accept applications from individual customers for loans via the Web.

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Sakura Bank to acquire Minato Bank

TOKYO, Japan - Akishige Okada (L), president of Sakura Bank, and Keiichiro Yano, president of Minato Bank, smile to each other at a news conference June 9. Sakura Bank said it will acquire a controlling stake in Minato Bank, a second-tier regional bank based in Kobe, in the first takeover bid in the Japanese banking sector.

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Sumitomo, Sakura to move up merger by one year

TOKYO, Japan - Akishige Okada (L), president of Sakura Bank, and Yoshifumi Nishikawa, president of Sumitomo Bank, shake hands at a news conference April 21 after announcing an agreement to move up the date of their banks' planned merger by one year to April 1 next year. The move is aimed to stay competitive amid a rush of consolidation and reorganization in Japan's banking industry.

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Sony to form online bank with J.P. Morgan

TOKYO, Japan - (From L to R) J.P. Morgan & Co Chairman Bruce Carnegie-Brown, Sony Corp. President Nobuyuki Idei, Sakura Bank President Akishige Okada and Sony Executive Deputy President Tamotsu Iba shake hands following the announcement of their new online banking joint venture.

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Sumitomo, Sakura banks to merge

TOKYO, Japan - Sumitomo Bank and Sakura Bank, two of Japan's largest commercial banks, announce Oct. 14 a basic agreement to integrate their businesses by April 2002 to create the world's second largest bank. Photo shows Sumitomo Bank President Yoshifumi Nishikawa (R) and Sakura Bank President Akishige Okada shaking hands just before a press conference at a Tokyo hotel.

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Sumitomo, Sakura in tie-up talks

OSAKA, Japan - A television station crew tries to interview a Sumitomo Bank employee on the morning of Oct. 14 following reports that the bank is in talks with Sakura Bank to form a wide-ranging business alliance.

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Sakura Bank employees report to work as usual

TOKYO, Japan - Sakura Bank employees report to work as usual on the morning of Oct. 14, the day news broke out that the bank is in talks with Sumitomo Bank to form a broad-based business tie-up.

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Sakura Bank head office

TOKYO, Japan - File photo shows the head office in Tokyo of Sakura Bank, which is in talks with Sumitomo Bank to form a broad-based alliance.

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Sumitomo Bank head office

OSAKA, Japan - File photo shows the head office of Sumitomo Bank, which is in talks with Sakura Bank to form a broad-based alliance.

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Sakura, Fujitsu to form 'Web bank' for online shopping

TOKYO, Japan - Akishige Okada (L), president of Sakura Bank, and Naoyuki Akikusa, president of Fujitsu Ltd., shake hands in Tokyo on July 26 after announcing that the two companies will establish a ''Web bank'' for Internet shoppers to make online payments.

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Japan's first Web bank to launch

TOKYO, Japan - Representatives of Sakura Bank and other investors in Japan's first Web bank -- including Tokyo Electric Power Co., Fujitsu Ltd. and NTT DoCoMo Inc. -- join hands at a news conference at a Tokyo hotel Oct. 11, the eve of the start of the bank's operations. Japan Net Bank is set to become the first bank in Japan to enable computer users to pay for goods and services on the basis of their deposits at the bank, and to accept applications from individual customers for loans via the Web.

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(5) Automated Teller Machines

FUKUOKA, Japan - An Automated teller machine installed jointly by Sakura Bank and Fukuoka City Bank at the convenience store am/pm in Fukuoka. The photo was taken on April 28, 2000. (Kyodo)

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(1)New banks, nonlife insurers kick off operations

TOKYO, Japan - Hideo Ogasawara, president of UFJ Holding Inc., a holding firm of Sanwa Bank, Tokai Bank and Toyo Trust & Banking Co., speaks at the company's opening ceremony in Tokyo on April 2. Three new megabank groups -- Sumitomo Mitsui Banking Corp., formed by the merger of Sumitomo Bank and Sakura Bank, Mitsubishi Tokyo Financial Group Inc., a merged body of the Bank of Tokyo-Mitsubishi, Mitsubishi Trust & Banking Co. and Nippon Trust Bank, as well as UFJ Holdings Inc. -- began operations the same day.

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Japan's regional economies improve: BOJ

Kimihiro Eto, the Bank of Japan's Osaka branch manager, speaks at a press conference at the central bank's head office in Tokyo on Jan. 15, 2018, as the BOJ released its quarterly Sakura Report. Eto cited foreign tourists and exports as the main factors behind the Japanese economy's improvement. (Kyodo) ==Kyodo

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Financial Services Agency OKs Sumitomo-Sakura merger

TOKYO, Japan - Sumitomo Bank President Yoshifumi Nishikawa (R) and Sakura Bank President Akishige Okada meet the press at the Financial Services Agency in Tokyo Dec. 26 after the agency approved a merger of the two lenders. The major Japanese commercial banks plan to combine as the Sumitomo Mitsui Banking Corp. in April.

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11 firms, banks led by Sony to push electric money payments

TOKYO, Dec. 25 - Tamotsu Iba (C), vice chairman of Sony Corp, and representatives from six other companies join hands at a hotel in Tokyo's Chiyoda Ward on Dec. 25 after announcing their agreement to set up a joint venture in January to promote electric-money services based on prepaid-card technology developed by Sony. Other participants in the joint venture include NTT DoCoMo Inc., Sakura Bank, the Bank of Tokyo-Mitsubishi, Toyota Motor Corp., Denso Corp., and KDDI.

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FRC gives green light to Japan Net Bank+

TOKYO, Sept. 7 Kyodo - Akishige Okada (R), president of Sakura Bank, shakes hands with Hideyuki Aizawa, chairman of the government's Financial Reconstruction Commission (FRC), after FRC approved a Sakura Bank-led consortium to form Japan Net Bank, the nation's first entity to provide Internet banking services.

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Sakura Bank to acquire Minato Bank

TOKYO, Japan - Akishige Okada (L), president of Sakura Bank, and Keiichiro Yano, president of Minato Bank, smile to each other at a news conference June 9. Sakura Bank said it will acquire a controlling stake in Minato Bank, a second-tier regional bank based in Kobe, in the first takeover bid in the Japanese banking sector.

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Sumitomo, Sakura to move up merger by one year

TOKYO, Japan - Akishige Okada (L), president of Sakura Bank, and Yoshifumi Nishikawa, president of Sumitomo Bank, shake hands at a news conference April 21 after announcing an agreement to move up the date of their banks' planned merger by one year to April 1 next year. The move is aimed to stay competitive amid a rush of consolidation and reorganization in Japan's banking industry.

E

Sony to form online bank with J.P. Morgan

TOKYO, Japan - (From L to R) J.P. Morgan & Co Chairman Bruce Carnegie-Brown, Sony Corp. President Nobuyuki Idei, Sakura Bank President Akishige Okada and Sony Executive Deputy President Tamotsu Iba shake hands following the announcement of their new online banking joint venture.

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Sumitomo, Sakura in tie-up talks

OSAKA, Japan - A television station crew tries to interview a Sumitomo Bank employee on the morning of Oct. 14 following reports that the bank is in talks with Sakura Bank to form a wide-ranging business alliance.

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Sumitomo, Sakura banks to merge

TOKYO, Japan - Sumitomo Bank and Sakura Bank, two of Japan's largest commercial banks, announce Oct. 14 a basic agreement to integrate their businesses by April 2002 to create the world's second largest bank. Photo shows Sumitomo Bank President Yoshifumi Nishikawa (R) and Sakura Bank President Akishige Okada shaking hands just before a press conference at a Tokyo hotel.

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Sumitomo Bank head office

OSAKA, Japan - File photo shows the head office of Sumitomo Bank, which is in talks with Sakura Bank to form a broad-based alliance.

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Sakura Bank head office

TOKYO, Japan - File photo shows the head office in Tokyo of Sakura Bank, which is in talks with Sumitomo Bank to form a broad-based alliance.

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Sakura Bank employees report to work as usual

TOKYO, Japan - Sakura Bank employees report to work as usual on the morning of Oct. 14, the day news broke out that the bank is in talks with Sumitomo Bank to form a broad-based business tie-up.

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Sakura, Fujitsu to form 'Web bank' for online shopping

TOKYO, Japan - Akishige Okada (L), president of Sakura Bank, and Naoyuki Akikusa, president of Fujitsu Ltd., shake hands in Tokyo on July 26 after announcing that the two companies will establish a ''Web bank'' for Internet shoppers to make online payments.

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Sakura, Fujitsu to form 'Web bank' for online shopping

TOKYO, Japan - Akishige Okada (L), president of Sakura Bank, and Naoyuki Akikusa, president of Fujitsu Ltd., shake hands in Tokyo on July 26 after announcing that the two companies will establish a ''Web bank'' for Internet shoppers to make online payments.