Japan Trustee Services Bank

Last updated
Japan Trustee Services Bank, Ltd.
日本トラスティ・サービス信託銀行株式会社
Type Private KK
Industry Trustee banking services
FoundedJune 20, 2000;21 years ago (2000-06-20)
Headquarters,
Key people
Yasuo Kuwana (President)
AUM JPY 203.4 trillion (2014) [1]
Owners Sumitomo Mitsui Trust Holdings (66.67%)
Resona Bank (33.3%)
Number of employees
926 (2014)
Website www.japantrustee.co.jp

Japan Trustee Services Bank, Ltd. (日本トラスティ・サービス信託銀行株式会社, Nippon Torasuti Sābisu Shintaku Ginkō Kabushiki-gaisha), or JTSB, is a trust bank in Japan.

Contents

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 trust assets. [2] Its main competitors are The Master Trust Bank of Japan (controlled by Mitsubishi UFJ Financial Group and Nippon Life Insurance) and Trust & Custody Services Bank (controlled by Mizuho Financial Group).

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. [1]

Daiwa merged with Asahi Bank in 2003 to form Resona Bank, [3] and Sumitomo Trust merged with Chuo Mitsui Trust Holdings in April 2011 to form Sumitomo Mitsui Trust Holdings. [4]

In 2014, Toyota 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. [5]

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References

  1. 1 2 "Annual Report - 2014" (PDF). Japan Trustee Services Bank. Retrieved 8 June 2015.
  2. "Structure for Services". Japan Trustee Services Bank. Retrieved 8 June 2015.
  3. "Daiwa, Asahi banks merge within Resona group". Kyodo. 1 March 2003. Retrieved 8 June 2015.
  4. "History Chuo Mitsui Trust Group". Sumitomo Mitsui Trust Holdings, Inc. Retrieved 8 June 2015.
  5. Kubota, Yuko (26 March 2014). "Cash-rich Toyota to buy back shares worth up to $3.5 billion". Reuters. Retrieved 8 June 2015.