Daishi Hokuetsu Financial Group (TYO:7327) and Gunma Bank (TYO:8334) have signed a memorandum of understanding for a business integration, creating a leading regional financial group, according to a Thursday filing on the Tokyo Stock Exchange.
The merger will form a holding company by April 2027, with Gunma Bank becoming a wholly-owned subsidiary.
The integration aims to combine regional strengths, improve customer services, and streamline operations to address demographic challenges and enhance operational efficiency.
The move is also set to bolster M&A, asset management, and international business support.
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