Sumitomo Mitsui Trust Holdings Inc., due to be created through a merger of two major trust banking firms this spring, will bolster its asset management and real estate brokerage and securitization operations as well as investment trust sales to raise its commission income, Kazuo Tanabe, who will become president of the merged firm, said in a recent interview.
Overseas the company resulting from the merger of Chuo Mitsui Trust Holdings Inc. and Sumitomo Trust & Banking Co. in April will focus on real estate business and lending to Japanese firms in China and other emerging economies in Asia, said Tanabe, now president of Chuo Mitsui.
He said the new firm will create a business model not based on lending to firms in Japan. An earnings structure dependent on a traditional banking service does not have much of a future, he said.
Tanabe also said the company will expand branch office networks in metropolitan areas but it has not been decided yet whether to increase or decrease the total number of outlets.
The company will have about 120 branch offices in Japan.
