21 03 2016

Fukuoka Financial Group to integrate Eighteenth Bank

Shearman & Sterling is advising leading Japanese regional banks Fukuoka Financial Group, Inc. (FFG) and The Eighteenth Bank, Ltd. (Eighteenth Bank) on a business integration involving filings with the US Securities and Exchange Commission. Upon completion, Eighteenth Bank will become a wholly owned subsidiary of FFG, making it the largest regional bank in Japan in terms of total assets.


The Eighteenth Bank integration will boost Fukuoka Financial Group's total assets to 18.7 trillion yen ($165 billion), based on data as of the end of September 2015. Upon completion, Eighteenth Bank will become a wholly owned subsidiary of FFG, making it the largest regional bank in Japan in terms of total assets. The definitive agreement is expected to be executed in August 2016, and the share exchange is expected to be effective on April 1, 2017. Headquartered in Fukuoka, FFG’s coverage extends throughout the Kyushu region of Japan and covers the three prefectures of Fukuoka, Kumamoto and Nagasaki. The bank, led by Masaaki Tani, Takashige Shibato, Takashi Yoshikai, Masayuki Aoyagi and Yasuhiko Yoshida, is based in Fukuoka. The Shearman & Sterling team is led by partner Masahisa Ikeda (Picture) (Tokyo-Capital Markets), with support from associates Joe M. Sasanuma (Tokyo-Capital Markets) and Misaki Kodama (Tokyo-Capital Markets). Involved fees earner: Masahisa Ikeda - Shearman & Sterling; Joe M. Sasanuma - Shearman & Sterling; Misaki Kodama - Shearman & Sterling;

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