• SHARE

Asahi Bank and Daiwa Bank announced Friday that they have reached a basic agreement to join forces under a single holding company in a bid to survive as stock price tumbles eat away at their capital.

Asahi, with assets of 30.3 trillion yen, will ally with Daiwa and two smaller Kansai regional banks by coming under a Daiwa-dominated holding company based in Osaka by the end of March. Daiwa is half Asahi’s size in terms of assets with 15.5 trillion yen.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW