is a Japanese regional bank that is headquartered in

Mito city is the capital city of Ibaraki Prefecture, in the northern Kantō region of Japan. , the city had an estimated population of 269,330 in 123,282 households and a population density of 1239 persons per km2. The percentage of the population aged ...

, Ibaraki Prefecture. The bank is relatively large among Japanese regional lenders, and operates branches throughout the

Kantō region The is a geographical area of Honshu, the largest island of Japan. In a common definition, the region includes the Greater Tokyo Area and encompasses seven prefectures: Gunma, Tochigi, Ibaraki, Saitama, Tokyo, Chiba and Kanagawa. Slight ...

. In addition to branches in Miyagi,

Fukushima may refer to: Japan * Fukushima Prefecture, Japanese prefecture **Fukushima, Fukushima, capital city of Fukushima Prefecture, Japan *** Fukushima University, national university in Japan *** Fukushima Station (Fukushima) in Fukushima, Fukushim ...

Chiba Chiba may refer to: Places China * (), town in Jianli County, Jingzhou, Hubei Japan * Chiba (city), capital of Chiba Prefecture ** Chiba Station, a train station * Chiba Prefecture, a sub-national jurisdiction in the Greater Tokyo Area on ...

, Saitama, Tokyo, and Osaka prefectures, the bank also operates a representative office in Shanghai. While the bank has many stakeholders, prominent shareholders include the

Bank of Tokyo-Mitsubishi is the largest bank in Japan. It was established on January 1, 2006, following the merger of the Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Ltd. MUFG is one of the three so-called Japanese "megabanks" (along with SMBC and Mizuho). As such, ...

, along with several major Japanese insurance companies Ibaraki Prefecture is located to the northeast of Tokyo and has a total population of 3,976,000. Although the prefecture ranks only 24th in size among Japan's 47 prefectures, it ranks 4th in terms of usable area. It is therefore one of the leading producers of agricultural products and has a largely rural population. As a consequence of this, Joyo Bank has had to maintain a large but inefficient branch network. This feature has helped the bank by limiting competition from other banks, with the result that Joyo Bank has been able to command a 38% market share of deposits and 42% share of loans in Ibaraki.

Profile

As of March 31, 2005 :Assets: Approximately 6.1 trillion yen (approximately US$56 billion) :Employees: 3,512 :Branches: 145 branches, 25 sub-branches, 1 overseas representative office :President: Kunio Onizawa :Member: Regional Banks Association of Japan

History

The Joyo Bank can trace its roots back to the

Meiji era The is an era of Japanese history that extended from October 23, 1868 to July 30, 1912. The Meiji era was the first half of the Empire of Japan, when the Japanese people moved from being an isolated feudal society at risk of colonization b ...

in 1878 with the establishment of the and the . These two institutions merged on July 30, 1935 to form the Joyo Bank. The year 2005 saw the 70th anniversary of this event. The bank has merged with several other regional banks over the next decade. During the 1980s and 1990s, the Joyo Bank opened up representative offices in major markets such as New York City (1987 – 2002), London (1982 – 2000), Hong Kong (1994 – 1999), and Shanghai (est. 1996). Of these, only the Shanghai office remains open.

External links

Official site

English part of official site
Regional banks of Japan Companies formerly listed on the Tokyo Stock Exchange {{Japan-company-stub