, or JTSB, is a

trust bank A trust company is a corporation that acts as a fiduciary, trustee or agent of trusts and agencies. A professional trust company may be independently owned or owned by, for example, a bank or a law firm, and which specializes in being a trust ...

Japan Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the n ...

. JTSB is a joint venture between

Resona Bank () is the holding company of , the fifth-largest banking group in Japan as of 2012. It is headquartered in the Kiba area of Koto, Tokyo. The main operating entities of the group are Resona Bank, a nationwide corporate and retail bank headqu ...

and

Sumitomo Mitsui Trust Holdings , formerly Chuo Mitsui Trust Holdings, Inc., is a Japanese financial holding company headquartered in Chiyoda, Tokyo. It provides an assortment of financial products to retail and wholesale customers, with a focus on asset management, financial b ...

, and acts as a subcontracted trustee for both banks to hold their customers' assets, which include

pension fund A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension funds typically have large amounts of money to invest and are the major investors in listed and priva ...

and

investment trust An investment trust is a form of investment fund found mostly in the United Kingdom and Japan. Investment trusts are constituted as public limited companies and are therefore closed ended since the fund managers cannot redeem or create shares. ...

assets. Its main competitors are

The Master Trust Bank of Japan is a trust bank in Japan. It was founded in 2000 and claims to be the first trust bank in Japan to be exclusively engaged in asset administration business. The company's shareholders are Mitsubishi UFJ Trust and Banking Corporation (46.5%), ...

(controlled by Mitsubishi UFJ Financial Group and Nippon Life Insurance) and Trust & Custody Services Bank (controlled 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. Upo ...

). JTSB's SWIFT (ISO 9362) code is JTSBJPJT.

History

JTSB was established on June 20, 2000, by Daiwa Bank and Sumitomo Trust & Banking Co., Ltd. and began operations on July 25, 2000. Sumitomo Trust transferred part of its trust business and other assets to JTSB in October 2000, and Daiwa followed suit in June 2001. The Mitsui Trust Financial Group invested in JTSB in 2002 and transferred some of its trust operations to JTSB in 2003. Daiwa merged with Asahi Bank in 2003 to form Resona Bank, and Sumitomo Trust merged with Chuo Mitsui Trust Holdings in April 2011 to form Sumitomo Mitsui Trust Holdings. In 2014,

Toyota is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on . Toyota is one of the largest automobile manufacturers in the world, producing about 10 ...

announced the establishment of a foundation to support development and environmental protection in the automotive industry, which was to be funded by dividends from a pool of 30 million Toyota shares sold to JTSB for one yen per share.

References

External links

Japan Trustee Services Bank, Ltd.
Banks of Japan Banks established in 2000 Trust banks of Japan Financial services companies based in Tokyo {{japan-company-stub