Fidea Holdings, a financial group based in Yamagata and Akita prefectures, has announced that it has decided to move forward with detailed discussions with the aim of merging Shonai Bank in Yamagata Prefecture and Hokuto Bank in Akita Prefecture, both of which are under its umbrella. .
The company aims to complete the merger in fiscal 2026.
According to an announcement, Shonai Bank, headquartered in Tsuruoka City, Yamagata Prefecture, and Hokuto Bank, headquartered in Akita City, announced that they will merge the two banks at their respective board of directors meetings held on the 25th, subject to approval from the relevant authorities. We have decided to proceed with a concrete study with the aim of achieving this goal.
Since the two banks established the holding company Fidea Holdings in 2009 and integrated their businesses 15 years ago, they have worked to improve management efficiency by integrating affiliated companies.
However, as the population in the area where they are based is expected to continue to decline and management to become increasingly difficult, they have decided to consider a merger in order to further streamline their management resources. That's it.
The company aims to complete the merger in fiscal 2026, and if the merger is successful, it is expected to strengthen its management foundation by increasing the amount of funds it can provide to business partners, as well as increasing the efficiency of its headquarters functions and increasing its sales capabilities. I think it is possible.
The holding company, Fidea Holdings, will continue to exist, and the new bank after the merger will be affiliated with it, with the bank's name and head office location to be announced as soon as they are decided.
At a press conference held in Sendai, Shonai Bank President Masahiko Matsuda said, ``Management issues for regional companies are becoming more diverse and complex, such as labor shortages and business succession.We want to view hometowns in a broader sense and work to strengthen our sales capabilities.'' said.
Hokuto Bank President Shin Ito said, ``The time is ripe to begin considering the idea of becoming a new wide-area regional bank. Expansion of scale through the merger will be a major advantage, and we will be able to significantly improve the quality and quantity of services we provide to the region.'' .
Masahiro Niino, President of Fidea Holdings, stated, ``The merger will not change the relationship between local business partners.We will focus even more on revitalizing the local economy by combining the characteristics and strengths of both banks.''