(2)New banks, nonlife insurers kick off operations

(2)New banks, nonlife insurers kick off operations

TOKYO, Japan - Shigemitsu Miki (L), president of Mitsubishi Tokyo Financial Group Inc., and its chairman Akio Utsumi, cut a ribbon at a ceremony in Tokyo on April 2 to mark the launch of the company, a merged body of the Bank of Tokyo-Mitsubishi, Mitsubishi Trust & Banking Co. and Nippon Trust Bank. Mitsubishi-Tokyo is one of three megabank groups which began operations the same day.

(1)New banks, nonlife insurers kick off operations

(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.

(3)New banks, nonlife insurers kick off operations

(3)New banks, nonlife insurers kick off operations

TOKYO, Japan - Akeshige Okada (L), chairman of Sumitomo Mitsui Banking Corp., and its chairman Yoshifumi Nishikawa shake hands at a ceremony to mark the launch of the company in Tokyo on April 2. The day's launches of three megabank groups, including Sumitomo Mitsui, usher in a new era of Japan's Big Four megabank groups.

(2)New banks, nonlife insurers kick off operations

(2)New banks, nonlife insurers kick off operations

TOKYO, Japan - Shigemitsu Miki (L), president of Mitsubishi Tokyo Financial Group Inc., and its chairman Akio Utsumi, cut a ribbon at a ceremony in Tokyo on April 2 to mark the launch of the company, a merged body of the Bank of Tokyo-Mitsubishi, Mitsubishi Trust & Banking Co. and Nippon Trust Bank. Mitsubishi-Tokyo is one of three megabank groups which began operations the same day.

(1)New banks, nonlife insurers kick off operations

(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.

(3)New banks, nonlife insurers kick off operations

(3)New banks, nonlife insurers kick off operations

TOKYO, Japan - Akeshige Okada (L), chairman of Sumitomo Mitsui Banking Corp., and its chairman Yoshifumi Nishikawa shake hands at a ceremony to mark the launch of the company in Tokyo on April 2. The day's launches of three megabank groups, including Sumitomo Mitsui, usher in a new era of Japan's Big Four megabank groups.