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Notice regarding Making Societe Generale Private Banking Japan Ltd. a Wholly-owned Subsidiary of Sumitomo Mitsui Banking Corporation(1/1)
Sumitomo
Mitsui Banking Corporation
Societe
Generale Private Banking Japan
Notice regarding Making Societe Generale Private
Banking Japan Ltd. a Wholly-owned Subsidiary of Sumitomo Mitsui Banking
Corporation
On the basis of the above, SMBC hereby
announces that it schedules to make Societe Generale Private Banking Japan Ltd
a wholly-owned subsidiary of SMBC on October 1, 2013, and simultaneously changes
the corporate name of Societe Generale Private Banking Japan Ltd to SMBC Trust
Bank Ltd.
1.
Making Societe
Generale Private Banking Japan Ltd. a Wholly-owned Subsidiary of SMBC
SMBC
will make Societe Generale Private Banking Japan Ltd. a wholly-owned subsidiary
of SMBC on October 1, 2013 pursuant to the clearance by relevant authorities.
SMBC
and its group companies (gSMBC grouph) have positioned its private banking
business for high net worth individuals as an important strategic area, and
continued to enhance it through the collaboration and cooperation within SMBC
group.
Societe
Generale Private Banking Japan Ltd, which is scheduled to become a wholly-owned
subsidiary of SMBC, has several service portfolios such as offering tailor-made wealth management solutions by using its trust services,
which SMBC group does not provide at this moment.
With
this acquisition, SMBC will be able to meet diversifying customer needs by
offering further extensive products.
2.
New Corporate Name
SMBC
Trust Bank Ltd.
*Location
of the office and phone number remains unchanged after this transaction.
3.
Scheduled Date of
Completion of Acquisition and Change of Corporate Name
October
1, 2013
(Note) Overview of Societe Generale
Private Banking Japan Ltd. (as of March 31, 2013)
Incorporation: 1986
Offices: 2
offices (
Total assets under management: JPY
407.9 billion
Total
assets: JPY
180.5 billion
Net
assets: JPY
3.2 billion
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