5 percent stake in the holding firm
, whose financial profile has improved.
The 15% investment quota is design to help financial holding firms
diversify their investment risks and conform to the policy separating financial and industrial businesses.
In addition, the quality of capital at the holding firm
''is expected to improve,'' S&P said, adding it has long deemed preferred shares as low-quality capital.
The reorganization plan approved by the shareholders at their emergency general meeting calls for establishing the holding firm
, Seibu Holdings Inc.
The holding firm
will be headed by Naoteru Miyato, president of Daido Life.
the holding firm
of both Chuo Mitsui Trust and Mitsui Asset Trust & Banking Co.
Capitalized at 10 billion yen, the new holding firm
is expected to list its shares on the Tokyo Stock Exchange and the Osaka Securities Exchange on April 1.
Mizuho Holdings President Terunobu Maeda will concurrently assume the presidency of the new holding firm
The new holding firm
, tentatively called Sapporo Holdings Inc.
The holding firm
also said it will take over an Asian insurance unit of Tokio Marine after it is spun off next April 1.
The plan for creating the holding firm
is expected to be approved formally at two rounds of shareholders meetings on Sept.
Sumitomo Mitsui said its holding firm
, tentatively named Sumitomo Mitsui Financial Group Inc.
which announced last year a merger under a joint holding company in October 2003, have agreed to let the holding firm
absorb all entities in their groups by April 2004 so as to become entirely a single company, company officials said Wednesday.
The FSC opened up mainland Chinese banks to buy into Taiwanese financial holding firms
and banks in January this year, although it has allowed Taiwanese banks to buy into mainland Chinese banks for many years.
13, 2012 (CENS) -- The Ministry of Finance (MOF) plans to push subsidiaries of state-owned financial holding firms
acquiring other state-owned financial firms.