Agreements reached under this partnership
Comprehensive business alliance- 1
The Bank of Iwate will establish an Asset Consulting Department and open 8 Consulting Plazas in Iwate, Aomori and Miyagi prefectures.
- 2
The Consulting Plazas will offer a broad lineup of products and services, including equities, bonds, fund wraps, insurance and deposits. By providing customers with more advanced and comprehensive asset-management consulting, we aim to further improve financial literacy in the region.
- 3
The Consulting Plaza locations will also work with existing branches to establish a structure that provides more detailed consulting opportunities than ever before to a broad range of customers, from working-age customers building their assets to senior customers entering their second stage of life.
These are items that the documents state the two companies will work on. The lines above and below represent arrangements between the two companies.
The parties aim to increase assets under custody, comprising the combined securities balances of The Bank of Iwate,Ltd. and Daiwa Securities' Morioka Branch plus The Bank of Iwate,Ltd.'s insurance balance, from approximately ¥670 billion currently to ¥1 trillion within 5 years after the commencement of operations under the alliance. The initial target is ¥850 billion.
This indicates whether the companies will do more than work together, such as holding each other’s shares or seconding personnel (capital and business alliance).
| Item | Details |
|---|---|
| Name of alliance partner | The Bank of Iwate,Ltd., Daiwa Securities Co., Ltd. |
| Type of alliance | Comprehensive business alliance |
| Details of the alliance | The Bank of Iwate will establish an Asset Consulting Department and open 8 Consulting Plazas in Iwate, Aomori and Miyagi prefectures., The Consulting Plazas will offer a broad lineup of products and services, including equities, bonds, fund wraps, insurance and deposits. By providing customers with more advanced and comprehensive asset-management consulting, we aim to further improve financial literacy in the region., The Consulting Plaza locations will also work with existing branches to establish a structure that provides more detailed consulting opportunities than ever before to a broad range of customers, from working-age customers building their assets to senior customers entering their second stage of life. |
| Dispatch of directors and officers | The head of the Asset Consulting Department (sales head) will be the former head of Daiwa Securities' Morioka Branch, and the joint department head will be the former chair of the preparatory committee for establishing The Bank of Iwate,Ltd.'s Asset Consulting Department. Dispatch of directors and audit & supervisory board members: Not disclosed |
| Numerical targets under the alliance | The parties aim to increase assets under custody, comprising the combined securities balances of The Bank of Iwate,Ltd. and Daiwa Securities' Morioka Branch plus The Bank of Iwate,Ltd.'s insurance balance, from approximately ¥670 billion currently to ¥1 trillion within 5 years after the commencement of operations under the alliance. The initial target is ¥850 billion. |
| Contract Date | 24 March 2025 |
| Alliance start date | 6 April 2026 |
Items this document does not state (16)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To improve financial literacy in the region by offering a broad range of products and services and providing more sophisticated, comprehensive asset management consulting. The parties also aim to contribute to customers' enriched lives and the development of the regional economy.