Notice on the Date of Acquisition of Shares in AFC Merchant Bank (ASEAN FINANCE CORPORATION LIMITED)
July 28, 2017
Resona Holdings, Inc.
In relation to the news release "Notice Regarding AFC Merchant Bank (ASEAN FINANCE CORPORATION LIMITED) ("AFC") becoming a subsidiary of Resona Bank, Limited" dated January 30, 2017, Resona Holdings, Inc. hereby announces that Resona Bank, Limited (President and Representative Director: Kazuhiro Higashi), a subsidiary of Resona Holdings, Inc., resolved the schedule of the acquisition of AFC shares as outlined below:
|Date of Resona Bank board of directors resolution||January 30, 2017|
|Date of execution of the agreement concerning subscription of shares||January 30, 2017|
|Date of Resona Bank's acquisition of AFC shares||July 31, 2017|
|Date of payment by Resona Bank for the acquisition of AFC shares July||July 31, 2017|
2. Future operation policy
The trade name of AFC will be changed to Resona Merchant Bank Asia Limited ("the Company") on the date that all of the AFC shares are acquired by Resona Bank.
Resona Group will send a number of personnel to the Company in order to build structures to provide support appropriate for Japanese customers.
The Company, as a consolidated subsidiary of Resona Holdings, Inc. and one of the key Resona Group's overseas offices, will provide financial services below for our customers including Japanese companies advancing into the ASEAN regions and India, with making use of our various customers base which are mainly small and medium-sized companies, from its base in Singapore.
- Loan services
- Consulting services, such as the operations of market research, business partner screening, and sales channels development
- Overseas M&A advising services, such as acquiring local companies or selling their own local subsidiaries
3. Future prospects
The impact of this deal on Resona Holdings, Inc.'s consolidated results for the fiscal year ending March 2018 is expected to be minimal.Download PDF File