• Kyodo News

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Resona Holdings Inc. Chairman Eiji Hosoya announced plans Friday to relocate the company’s head office from Osaka to Tokyo.

The parent of Resona Bank and other lenders said it will start proceedings to alter the registered location of its head office after shareholders give formal approval to the plan at their general meeting on June 25.

“We would like to strengthen our business base and visibility in Osaka further,” Hosoya told a news conference.

The holding company, however, intends to continue holding its annual shareholders’ meetings in Osaka, he said.

Resona Bank’s head office will stay in Osaka, he said.

The predecessor of Resona Holdings, the now defunct Daiwa Bank, evolved from Osaka Nomura Bank, which was founded in Osaka in 1918.

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