Concordia Financial Group, through its subsidiary Yokohama Bank, announced a tender offer to acquire all outstanding shares of Kanagawa Bank, a regional bank based in Yokohama, for approximately JPY 8.2 billion ($74 million). The acquisition aims to integrate the operations of both banks in Kanagawa Prefecture and enhance their financial intermediation functions. The tender offer period is from February 6 to April 4, with settlement starting on April 18. The minimum purchase target is 60.34% of outstanding shares. The two banks have no plans to merge at this time. As of September 2022, Kanagawa Bank had JPY 486.7 billion ($4.4 billion) in deposits, JPY 395.1 billion ($3.6 billion) in loans, and 34 branches. Yokohama Bank is a subsidiary of Concordia Financial Group, which was formed in 2016 through the merger of Yokohama Bank and Tohoku Bank.

As an M&A advisor, it is important to note that this acquisition is a strategic move by Concordia Financial Group to expand its presence in the Kanagawa Prefecture and strengthen its financial intermediation functions. The acquisition of Kanagawa Bank will also provide Yokohama Bank with a larger customer base and a wider range of financial products and services to offer.

記事監修者 : 濱田 啓揮

株式会社M&A Do 代表取締役
M&Aシニアエキスパート・相続診断士
東京都昭島市出身。慶應義塾大学理工学部を卒業後、大手M&A仲介会社にて勤務し、その後独立。これまで製造業・工事業を中心に友好的なM&Aを支援。また父親が精密板金加工業、祖父が蕎麦屋、叔父が歯科クリニックを経営し、現在は父親の精密板金加工業にも社外取締役として従事。