, formerly Chuo Mitsui Trust Holdings, Inc., is a Japanese

financial holding company A bank holding company is a company that controls one or more banks, but does not necessarily engage in banking itself. The compound bancorp (''banc''/''bank'' + '' corp ration') is often used to refer to these companies as well. United State ...

headquartered in

Chiyoda, Tokyo is a special ward located in central Tokyo, Japan. It is known as Chiyoda City in English.Profile< ...

. It provides an assortment of financial products to retail and wholesale customers, with a focus on asset management, financial brokerage and real estate services. Its main operating company is , which is the largest trust company and the fifth-largest bank in Japan measured by assets. The company has no capital relationship with the

Sumitomo Mitsui Financial Group is a Japanese multinational banking and financial services institution headquartered in Yurakucho, Chiyoda, Tokyo, Japan. The group operates in retail, corporate, and investment banking segment worldwide. It provides financial products and ser ...

; the two banking groups are similarly named because both are descended from the historical

Sumitomo The is one of the largest Japanese ''keiretsu'', or business groups, founded by Masatomo Sumitomo (1585-1652) around 1615 during the early Edo period. History The Sumitomo Group traces its roots to a bookshop in Kyoto founded circa 1615 by Masa ...

and

Mitsui is one of the largest '' keiretsu'' in Japan and one of the largest corporate groups in the world. The major companies of the group include Mitsui & Co. ( general trading company), Sumitomo Mitsui Banking Corporation, Nippon Paper Industri ...

conglomerates. There is just a weak control relationship between Sumitomo Mitsui Trust Holdings and

. In fact SM Trust Holdings controls about 66% of

Japan Trustee Services Bank , or JTSB, is a trust bank in Japan. JTSB is a joint venture between Resona Bank and Sumitomo Mitsui Trust Holdings, and acts as a subcontracted trustee for both banks to hold their customers' assets, which include pension fund and investment ...

. As of March 31, 2017, SM Financial Group's website reports that Japan Trustee Services Bank owned 5.50% of

, but also 1.52% from trust location n. 1 (信託口1), 1.50% from trust location n. 2 (信託口2), 2.05% from location n. 5 (信託口5), 1.36% from trust location n. 7 (信託口7), and 1.85% from trust location n. 9 (信託口9) as well.

History

Chuo Mitsui

SMT's earliest predecessor was The Mitsui Trust Company, Limited, established in March 1924 with capital of 30 million yen. In March 1948, it changed its name to The Tokyo Trust & Banking Co., Ltd. It changed its name again to The Mitsui Trust and Banking Company, Limited in 1952. The Chuo Trust & Banking Co., Ltd. was established in May 1962 with capital of 2.5 billion yen and support from

Tokai Bank Tōkai ( 東海, literally ''East Sea'') in Japanese may refer to: * Tōkai region, a subregion of Chūbu * Tōkai, Ibaraki, a village, also known as "Tokaimura" (Tokai-village) * Tōkai, Aichi, a city * Tōkai University, a private university in T ...

Dai-Ichi Bank (第一) is a compound modifier phrase of Japanese origin, meaning ''number one'', or ''first''. In kanji, "dai" ("number") is 第Nakao, Seigo''Random House Japanese-English English-Japanese Dictionary'' via Google Books, p. 39. Retrieved 2011-0 ...

Industrial Bank of Japan The Industrial Bank of Japan, Limited (IBJ), based in Tokyo, Japan, was one of the largest banks in the world during the latter half of the 20th century. It combined with Dai-Ichi Kangyo Bank and Fuji Bank in 2002 to form Mizuho Financial Group ...

and other financial institutions. It took over Tokai and Dai-Ichi's trust businesses as well as the stock transfer agency business of Japan Securities Agents, Ltd. It acquired the Honshu operations of

Hokkaido Takushoku Bank , literally ''Hokkaidō Exploitation Bank'', was a major commercial bank in Japan, founded in 1899 as a "Special Bank" to promote capitalism on the island of Hokkaidō. Its nickname was ; it was also known in the media and business world as . It was ...

in 1998. Mitsui Trust and Chuo Trust signed a merger agreement in May 1999 and completed their merger in April 2000, becoming . In 2001, Chuo Mitsui announced its plans to establish a new bank holding company known as Mitsui Trust Holdings, Inc., which was formed in February 2002. It changed its name to in 2007.

Sumitomo Trust

Sumitomo Trust Co., Ltd. was founded in July 1925 with capital of 20 million yen and its headquarters in Awajicho, Osaka. It changed its name to Fuji Trust & Banking Co., Ltd. in 1948 and adopted the name in 1952. In 1962 it moved its headquarters to the Sumitomo Building in Kitahama, Osaka.

Merger

Chuo Mitsui agreed to merge with The Sumitomo Trust and Banking Co., Ltd. in November 2009, and formed a holding company, Sumitomo Mitsui Trust Holdings, Inc., by a share exchange between Chuo Mitsui and Sumitomo Trust in April 2011. The three main trust banks under this holding company merged in April 2012 to form Sumitomo Mitsui Trust Bank, Limited. SMTB became the largest trust bank in Japan and the fifth-largest commercial bank overall measured by assets. SMTB was fined for

insider trading Insider trading is the trading of a public company's stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company. In various countries, some kinds of trading based on insider information ...

in 2012, after a Chuo Mitsui fund manager was found to have traded on information leaked from

Nomura Securities is a wholly owned subsidiary of Nomura Holdings, Inc. (NHI), which forms part of the Nomura Group. It plays a central role in the securities business, the Group's core business. Nomura is a financial services group and global investment bank. Bas ...

regarding a 2010 share issuance by

Mizuho Financial Group , abbreviated as MHFG, or simply called Mizuho, is a banking holding company headquartered in the Ōtemachi district of Chiyoda, Tokyo, Japan. The name "" literally means "abundant rice" in Japanese and "harvest" in the figurative sense. Upon ...

References

{{authority control Companies listed on the Tokyo Stock Exchange Companies listed on the Osaka Exchange Banks of Japan Mitsui Government-owned companies of Japan Sumitomo Group Banks established in 2002 Holding companies established in 2002 Japanese companies established in 2002 Financial services companies based in Tokyo Holding companies based in Tokyo