Mitsui Trust Holdings
Mitsui Trust Holdings
, Inc. is a Japanese financial holding company
which was renamed, following structural changes, to Chuo Mitsui Trust Holdings, Inc. in October 2007. The Tokyo headquartered company has its stocks listed on the first section of Tokyo, Nagoya, and Osaka Stock Exchanges under the ticker code 8309.
As a holding group, the company operates and manages its subsidiaries, namely: Chuo Mitsui Trust and Banking Co., Chuo Mitsui Asset, Chuo Mitsui Asset Management, and Chuo Mitsui Capital. In addition, the company has several overseas subsidiaries based in the Cayman Islands.
According to the Forbes Global 2000 rankings of August 2009, Chuo Mitsui Trust Holdings is ranked the 704th largest company in the world.
The President of the company, who also serves as the President of a Subsidiary and the Representative Director, is Kazuo Tanabe while Kiichiro Furusawa is the Chairman of the Board and Representative Director. As of June 2009, the company employs 9,038 people.
The largest amongst the company shareholders, by number of shares held, are: Japan Trustee Services Bank, Ltd (87,323 shares), the Master Trust Bank of Japan, Ltd (70,600) and Japan Trustee Services Bank, Ltd (41,155).
The origins of the company can be traced back to 1924 when Mitsui Trust & Banking was formed as a spin-off of Mitsui Zaibatsu. In 1962, Chuo Trust & Banking was also formed as a result of a spin-off of Tokai Bank, Dai-Ichi Bank, and the Industrial Bank of Japan. In 2000, the Chuo Mitsui Trust and Banking Co. was formed, following the merger between Chuo Trust and Mitsui Trust. In Februry 2002, Chuo Mitsui Trust Group was established with Mitsui Trust Holdings as its parent company (and a holding company of four major subsidiaries). Later on in October 2007, Mitsui Trust Holdings was renamed as Chuo Mitsui Trust Holdings, Inc.
As of August 1, 2009, the Resolution and Collection Corporation (RCC), a wholly-owned subsidiary of Deposit Insurance Corporation of Japan, acquired 30 percent of the common stocks of Chuo Mitsui Trust Holdings, in exchange for RCC’s relevant preferred stocks. As a result, RCC has turned into the largest shareholder and the owner of Chuo Mitsui Trust Holdings.
Chuo Mitsui Trust Holdings, together with its subsidiaries, offers to its individual and corporate customers services and products in the areas of banking
, real estate operations, trust asset management, pension trust operations, trust asset administration business, investment trust management, investment advisory business, and private equity fund management.
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