The Tohoku Bank, Ltd. announced that it has received ¥10 billion in funding from The Resolution and Collection Corporation
September 27, 2012
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The Tohoku Bank, Ltd. (TSE:8349) announced that it expects to raise ¥10,000,000,000 in funding on September 11, 2012. The company will issue preferred shares to The Resolution And Collection Corporation. The payment date is September 28, 2012.
On September 13, 2012, the company announced that the transaction has been approved by the board of directors. The company will issue 40,000,000 type-1 preferred shares at ¥250 per share. The company will raise net proceeds amounting to ¥9,980,000,000. The company will incur ¥20,000,000 for registration and license taxes, and financial legal advisory fees. The shares will be issued to The Resolution and Collection Corporation.
On September 28, 2012, The Tohoku Bank, Ltd. closed the transaction.
On February 15, 2019, the acquisition price of the shares has been amended from ¥1,097 to ¥1,060.
THE TOHOKU BANK, LTD. is a Japan-based regional bank mainly engaged in the banking, leasing and other financial businesses. The Bank operates in two business segments. The Banking segment is engaged in the provision of banking services such as deposit, loan, securities trading and investment, domestic and foreign currency exchange, bond consignment, agency service, loan guarantee, and counter sales of treasury bonds and other public bonds, and securities investment trust. The Leasing segment is engaged in the leasing and trading of various types of machinery. The others business provides cashing services and shopping services, and develops and sells computer software.
THE TOHOKU BANK, LTD. 
