To whom it may concern
September 30, 2015
Sumitomo Mitsui Trust Holdings, Inc. Sumitomo Mitsui Trust Bank, Limited
Sumitomo Mitsui Trust Bank, Limited (President: Hitoshi Tsunekage; hereinafter 'SuMi TRUST'), which is a subsidiary of Sumitomo Mitsui Trust Holdings, Inc. (President: Kunitaro Kitamura) hereby announces that, regarding its acquisition of 100% of the issued shares (that acquisition, hereinafter the 'Share Acquisition') of Citi Cards Japan, Inc. (Representative Director, President and CEO: Oscar J. Mangini; hereinafter 'Citi Cards Japan'), it has decided a new company name to take effect after the Share Acquisition and informally nominated the Representative Director, Chairman and the Representative Director, President of the newly named company.
The Share Acquisition is planned to be completed by the end of December, 2015. The appointments of the Representative Director, Chairman and the Representative Director, President for the newly named company are subject to approval at its general meeting of shareholders and its board of directors meeting, each to be held after completion of the Share Acquisition.
New Company Name
Following the Share Acquisition, the company name will be changed since 100% of the issued shares of Citi Cards Japan will be transferred to SuMi TRUST, and the newly named company will become a member of the SuMi TRUST group. The newly named company will be the exclusive issuer of 'Diners Club cards' in Japan.
New Name
Current Name
Name
SUMITOMO MITSUI TRUST
CLUB CO., LTD.
Citi Cards Japan, Inc.
Representative Director, Chairman and Representative Director, President
Name | New Position | Current & Former Position |
Yuji Nishiura | SUMITOMO MITSUI TRUST CLUB CO., LTD. to be appointed as Representative Director, Chairman | Former Chairman and Director of AXA Life Insurance Co., Ltd. |
Koji Nohara | SUMITOMO MITSUI TRUST CLUB CO., LTD. to be appointed as Representative Director, President (*)Concurrently appointed as President of Sumitomo Mitsui Trust Card Co., Ltd. | President of Sumitomo Mitsui Trust Card Co., Ltd. Former Senior Managing Executive Officer of Sumitomo Mitsui Trust Bank, Limited |
The newly named company will make efforts to realize synergies through leveraging the established brands of both SuMi TRUST and Diners Club, and to maintain and enhance its various products and services as a member of the SuMi TRUST group. There are no procedures required for customers to take in relation to the change of the company name following the Share Acquisition.
For further information, please contact:
IR Department, Sumitomo Mitsui Trust Holdings, Inc. Telephone: +81-3-3286-8354
Facsimile: +81-3-3286-4654
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