Resona Holdings

Resona Holdings (Resona) is a Japanese financial service company, part of the Resona Group which is Japanís fourth-largest banking group. The company has two head offices located in Osaka and Tokyo. As of October 1, 2009, Director, Chairman and Representative Executive Officer is Eiji Hosoya. The company employs approximately 16,610 people and operates a network of 600 branches throughout Japan. Its total capital amounts to JPY 327.2 billion. Resona Holdings is listed on Tokyo Stock Exchange and Osaka Securities Exchange.

Furthermore, the company has 19 consolidated subsidiaries, 14 of which domestic and 5 overseas, as well as 2 associated companies. Among the above mentioned, the largest are Resona Bank Ltd (with a capital of JPY 279,928 million), Saitama Resona Bank, Ltd (JPY 70,000 million), and The Kinki Osaka Bank, Ltd (JPY 38,971 million). In addition to its main activity: supervision of its subsidiaries' operations, Resona is also engaged in various ancillary businesses.

In December 2001, Resona Holdings, Inc was founded under the name Daiwa Bank Holdings and as a result of the consolidation between Kinki Osaka Bank, Nara Bank, and Daiwa Bank. Following the acquisition of Asahi Bank on March 1, 2002, the company was subsequently renamed Resona Holdings, Inc.

At the beginning of 2003, Resona Group faced insolvency as a result of its fallen capital adequacy ration and the inability of Resona Bank to count on deferred tax assets for operations. At the same time, the entire financial system of Japan was threatened by paralysis as other Japanese banks also relied on their deferred tax assets. In May of the same year, the Japanese Government agreed to inject JPY 1.96 trillion into the Resona Group via Resona Bank. As a result, the bank was nationalized because the government, with 68.25 percent of voting rights in the holding company, turned into the company's majority shareholder. In 2004 under the lead of the new management team, the company succeeded in turning a significant profit and announced its plan to return a portion of the granted money to the government.

Resona Holdings operates primarily in Japan, as well as in China, Thailand, Singapore, and Indonesia. The company is engaged in the banking business, credit guarantees, credit card administration, factoring, private equity business, trust operations, business consulting services, back office work, personnel and welfare services, and venture financing. Furthermore, the company provides the following products and services to individual customers and small and medium enterprises: credit cards, loan products, pension and trust services, leasing, real estate solutions, investment consulting, financing, corporate pensions, etc.

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