FIDEA Holdings (8713) said on Sept. 30 that its wholly owned subsidiaries Shonai Bank and Hokuto Bank signed an agreement to merge on Jan. 1, 2027, forming The FIDEA Bank, Ltd.
The agreement, signed on the condition that regulatory approvals are obtained, follows the group's Nov. 8, 2024 announcement of the planned merger and name change. Shareholders' meetings of both banks approved the deal on Sept. 30.
Shonai Bank will be the surviving entity in an absorption-type merger, and Hokuto Bank will be dissolved. Because FIDEA Holdings owns all issued shares of both banks, Shonai Bank will not deliver shares, cash or other consideration in the merger.
The merged lender will be based at Shonai Bank's current head office address in Yamagata City, Yamagata Prefecture, with capital of ¥8.5 billion, and will keep Shonai Bank's bank code 0121. The group said the new bank will operate as a wide-area regional lender spanning Yamagata and Akita prefectures, supporting local businesses and regional revitalization initiatives such as renewable energy and tourism.
Key non-consolidated figures for the fiscal year ended March 2026:
| Item | Shonai Bank | Hokuto Bank |
|---|---|---|
| Total assets | ¥1.445 trillion | ¥1.4739 trillion |
| Loans | ¥1.0031 trillion | ¥982.9 billion |
| Ordinary profit | ¥3.982 billion | ¥714 million |
| Net income | ¥2.958 billion | ¥512 million |
FIDEA Holdings said the merger will have no impact on its earnings forecast for the fiscal year ending March 2027.
The merger is scheduled to take effect on Jan. 1, 2027, subject to regulatory approvals. The schedule, procedures and terms may be changed through consultation if serious issues arise during preparations for the merger and systems integration.
| Hikari Tsushin, Inc. | |
| Offer price | ¥1,000 per common share |
| M&A / TOB | 1 |
| Guidance | 0 |
| Buybacks | 0 |
| Dividends | 0 |
| Capital | 0 |
| Earnings | 0 |
| People | 0 |
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