Worth reading
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How definitive the wording is.This transaction
This business integrationCounterparty (target company)Procrea Holdings,Inc., THE AKITA BANK,LTD., The Bank of Iwate,Ltd.
Disclosing companyThe Bank of Iwate,Ltd.
TimelineThe spacing between the points is proportional to the actual number of days.
Target company
Financial holding company, Regional Financial Institutions, Regional Financial Institutions
Location Aomori, Aomori Prefecture, Akita, Akita Prefecture, Morioka, Iwate PrefectureShare capital ¥20,000 million, ¥14,100 million, ¥12,089 millionDate of incorporation 1 April 2022, 20 October 1941, 2 May 1932
Net income for the current fiscal year¥3,783 million (fiscal year ended March 2026), ¥7,692 million (fiscal year ended March 2026), ¥8,919 million (fiscal year ended March 2026)
Net assets¥162,761 million (as of 31 March 2026), ¥179,304 million (as of 31 March 2026), ¥194,750 million (as of 31 March 2026)
Impact on Business Performance
The commencement of consideration of this management integration will have no impact on the 3 companies’ consolidated results for the fiscal year ending March 2027.
Procedures and assumptions
Management structure after acquisitionThe companies will address regional issues through a new financial group. They aim to establish an operating base where diverse personnel can demonstrate their capabilities and grow by securing and developing specialized personnel and advancing investments in systems.
| Item | Details |
|---|---|
| Transaction name | This business integration |
| Counterparty name | Procrea Holdings,Inc., THE AKITA BANK,LTD., The Bank of Iwate,Ltd. |
| Name of the Subject Company | Procrea Holdings,Inc., THE AKITA BANK,LTD., The Bank of Iwate,Ltd. |
| Business Description of the Subject Company | Financial holding company, Regional Financial Institutions, Regional Financial Institutions |
| Location of the Subject Company | Aomori, Aomori Prefecture, Akita, Akita Prefecture, Morioka, Iwate Prefecture |
| Capital Stock of the Subject Company | ¥20,000 million, ¥14,100 million, ¥12,089 million |
| Date of Establishment of the Subject Company | 1 April 2022, 20 October 1941, 2 May 1932 |
| Net Income of the Subject Company | ¥3,783 million (fiscal year ended March 2026), ¥7,692 million (fiscal year ended March 2026), ¥8,919 million (fiscal year ended March 2026) |
| Net Assets of the Subject Company | ¥162,761 million (as of 31 March 2026), ¥179,304 million (as of 31 March 2026), ¥194,750 million (as of 31 March 2026) |
| Impact on Business Performance | The commencement of consideration of this management integration will have no impact on the 3 companies’ consolidated results for the fiscal year ending March 2027. |
| Date of board resolution | 2 October 2026 |
| Execution Date / Effective Date | The companies aim to complete the business integration in April 2028 (planned). |
| Management structure after acquisition | The companies will address regional issues through a new financial group. They aim to establish an operating base where diverse personnel can demonstrate their capabilities and grow by securing and developing specialized personnel and advancing investments in systems. |
Items this document does not state (19)
Net Sales of the Subject CompanyOperating Profit of the Subject CompanyAcquisition priceExpenses other than the acquisition priceType of ConsiderationMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodNumber of shares acquiredVoting rights ownership percentageFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Contract DateValuation methodologyIndependent valuation institutionSpecial CommitteeConditions Precedent to Execution
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.As the operating environment becomes more challenging due to population decline, a decrease in the number of business establishments, and the need to address areas such as AI and cybersecurity, the 3 banks aim to leverage their respective strengths and management resources synergistically, build a stronger and broader operating base, address regional issues and enhance corporate value.
How to read this page
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