Agreements reached under this partnership
Business Alliances- 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.
- 3
They will provide customers with more advanced and comprehensive asset management consulting services.
- 4
Each Consulting Plaza will work with the Bank of Iwate's existing branches.
- 5
The parties aim to increase assets under custody, comprising the combined securities balances of The Bank of Iwate and Daiwa Securities' Morioka Branch plus The Bank of Iwate's insurance balances, from approximately ¥670 billion currently to ¥1 trillion over the five years following the commencement of operations under the alliance.
These are items that the documents state the two companies will work on. The lines above and below represent arrangements between the two companies.
Increase from approximately ¥670 billion currently to ¥1 trillion over the five years following the commencement of operations under the alliance. The target has been raised from the initial ¥850 billion to ¥1 trillion.
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 | Daiwa Securities Co., Ltd. |
| Type of alliance | Business Alliances |
| 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., They will provide customers with more advanced and comprehensive asset management consulting services., Each Consulting Plaza will work with the Bank of Iwate's existing branches., The parties aim to increase assets under custody, comprising the combined securities balances of The Bank of Iwate and Daiwa Securities' Morioka Branch plus The Bank of Iwate's insurance balances, from approximately ¥670 billion currently to ¥1 trillion over the five years following the commencement of operations under the alliance. |
| Dispatch of directors and officers | The disclosure states that the former head of Daiwa Securities' Morioka Branch will serve as head of the Asset Consulting Department, and the former chair of the preparatory committee for establishing The Bank of Iwate's Asset Consulting Department will serve as joint department head. Dispatch of directors and audit & supervisory board members: Not disclosed |
| Numerical targets under the alliance | Increase from approximately ¥670 billion currently to ¥1 trillion over the five years following the commencement of operations under the alliance. The target has been raised from the initial ¥850 billion to ¥1 trillion. |
| 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 provide a broad range of products and services, including equities, bonds, fund wraps, insurance and deposits, and to improve financial literacy in the region through more advanced and comprehensive asset management consulting. The alliance also aims to contribute to customers' enriched lives and the development of the regional economy.