Shizuoka Financial Group and the Bank of Nagoya agreed on 27 March to begin talks on a business integration through a share exchange that would make Nagoya Bank a wholly owned subsidiary of Shizuoka FG.
Why Shizuoka Financial Group, Inc. is buying The Bank of Nagoya, Ltd.
The banks said combining Shizuoka FG's base in Shizuoka and the Tokyo area with Nagoya Bank's franchise in Aichi would broaden their reach and strengthen solution-based services, building a regional financial group among the leaders in both scale and quality.
Deal terms and financing
The share exchange ratio will be decided by the time a final integration agreement is signed. Nagoya Bank's shares will be delisted from the Tokyo and Nagoya exchanges before the exchange takes effect.
Regulatory approvals and timing
The Tokai Local Finance Bureau said on 27 March that it had been notified of the agreement and hoped talks would progress smoothly. The planned timetable is a final agreement in March 2027, a Nagoya Bank extraordinary shareholders' meeting in December 2027 and an effective date of 1 April 2028; no final agreement had been signed as of October 2026.
Market context
Nagoya Bank president Ichiro Fujiwara told a press conference on 28 March that the bank did not currently plan to close branches and described the deal as an 'offensive' integration, according to Kyodo.
