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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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3 UFJ banks to post losses

TOKYO, Japan - Executives of three Japanese banks to merge as UFJ Holdings Inc. in April announced at a news conference March 16 they will post losses in their March settlements to write off over 1 trillion yen in bad loans. Sanwa Bank, Tokai Bank and Toyo Trust & Banking Co. are the first major banks in Japan to formally announce losses in March book-closings for fiscal 2000.

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Sanwa, Tokai, Toyo banks to form UFJ Holdings

TOKYO, Japan - Sanwa Bank, Tokai Bank and Toyo Trust & Banking Co. have announced they will set up a joint holding company called ''UFJ Holdings Inc.'' in April 2001. Shaking hands at a news conference Oct. 4 are (from L to R) Tokai Bank President Hideo Ogasawara, Sanwa Bank President Kaneo Muromachi and Toyo Trust & Banking President Shunroku Yokosuka. UFJ, which stands for United Financial of Japan, will be based in Osaka, and the three banks will integrate their operations under the new holding company.

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Toyo Trust to join Sanwa-Tokai alliance

TOKYO, Japan - Shunroku Yokosuka, president of Toyo Trust & Banking Co., Kaneo Muromachi, president of Sanwa Bank, and Hideo Ogasawara, president of Tokai Bank, (from L to R) shake hands at a news conference held at Sanwa Bank's head office in Tokyo's Otemachi business district on July 5. The three banks have basically agreed to have Toyo Trust join the Sanwa-Tokai alliance to be formed in April 2001.

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Sanwa Bank, Toyo Trust to form partnership

Sanwa Bank President Naotaka Saeki (L) shakes hands with Toyo Trust President Nobuyoshi Takeuchi at a Tokyo hotel Jan. 20 prior to a press conference to announce an agreement to expand their business collaboration, including pension services and sharing of their automatic teller machines.

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Sanwa exec to become UFJ Bank president instead of Muromachi

TOKYO, Japan - Masashi Teranishi (file photo), senior managing director at Sanwa Bank, will become president of UFJ Bank when it is launched Jan. 15, and not Sanwa Bank President Kaneo Muromachi, as had been earlier decided, a Sanwa Bank spokesman said Dec. 21. The UFJ Financial Group comprising Sanwa Bank, Tokai Bank, and Toyo Trust & Banking Co.

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Scandal-rocked Toyo Tire holds shareholders' meeting

A Toyo Tire & Rubber Co. shareholder heads for an extraordinary shareholders' meeting at the firm's headquarters in the western Japan city of Osaka on Nov. 12, 2015. The meeting was held to seek approval for a revamped management team that hopes to win back public trust after the company falsified performance data or did not conduct required tests on its vibration-absorbing rubber products. President Takuji Yamamoto resigned at the end of the meeting to take responsibility for the scandals. (Kyodo) ==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.

E

3 UFJ banks to post losses

TOKYO, Japan - Executives of three Japanese banks to merge as UFJ Holdings Inc. in April announced at a news conference March 16 they will post losses in their March settlements to write off over 1 trillion yen in bad loans. Sanwa Bank, Tokai Bank and Toyo Trust & Banking Co. are the first major banks in Japan to formally announce losses in March book-closings for fiscal 2000.

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FRC gives preliminary approval to UFJ launch

TOKYO, Japan - (From L to R) Kaneo Muromachi, president of Sanwa Bank, Hideyuki Aizawa, chairman of the Financial Reconstruction Commission (FRC), Hideo Ogasawara, president of Tokai Bank, and Shunroku Yokosuka, president of Toyo Trust & Banking Co., shake hands in Tokyo on Nov. 22 after the commission gave preliminary approval to a plan by the three banks to set up a joint holding company called ''UFJ Holdings Inc.'' in April 2001.

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Sanwa, Tokai, Toyo banks to form UFJ Holdings

TOKYO, Japan - Sanwa Bank, Tokai Bank and Toyo Trust & Banking Co. have announced they will set up a joint holding company called ''UFJ Holdings Inc.'' in April 2001. Shaking hands at a news conference Oct. 4 are (from L to R) Tokai Bank President Hideo Ogasawara, Sanwa Bank President Kaneo Muromachi and Toyo Trust & Banking President Shunroku Yokosuka. UFJ, which stands for United Financial of Japan, will be based in Osaka, and the three banks will integrate their operations under the new holding company.

E

Toyo Trust to join Sanwa-Tokai alliance

TOKYO, Japan - Shunroku Yokosuka, president of Toyo Trust & Banking Co., Kaneo Muromachi, president of Sanwa Bank, and Hideo Ogasawara, president of Tokai Bank, (from L to R) shake hands at a news conference held at Sanwa Bank's head office in Tokyo's Otemachi business district on July 5. The three banks have basically agreed to have Toyo Trust join the Sanwa-Tokai alliance to be formed in April 2001.

E

Sanwa Bank, Toyo Trust to form partnership

Sanwa Bank President Naotaka Saeki (L) shakes hands with Toyo Trust President Nobuyoshi Takeuchi at a Tokyo hotel Jan. 20 prior to a press conference to announce an agreement to expand their business collaboration, including pension services and sharing of their automatic teller machines. ==Kyodo