Subscription of Preferred Shares in accordance with the Act on Strengthening Financial Functions

Press Releases

Date: March 31, 2009

1. Capital participation by public funds in the North Pacific Bank, Ltd., the Fukuho Bank, Ltd. and the Minami-Nippon Bank, Ltd. in accordance with the provisions of Paragraph 1, Article 5 of the revised Act on Strengthening Financial Functions ("Act") was decided on March 13, 2009. The Resolution and Collection Corporation to which operations of strengthening the capital base of financial institutions have been entrusted subscribed today for preferred shares of the North Pacific Bank, Ltd., the Fukuho Bank, Ltd. and the Minami-Nippon Bank, Ltd.
2. Capital participation in accordance with the Act aims at smooth supply of funds to small and medium-sized enterprises and revitalization of the local economy by boosting financial institutions' financial intermediary function. That is one of the most important responsibilities of the Deposit Insurance Corporation of Japan ("DICJ").
3. In view of the above, DICJ will continue to cooperate closely with the relevant authorities and conduct capital participation operations surely and smoothly.
Preferred shares subscribed this time are outlined as follows:
Outline of Preferred Shares Subscribed
  North Pacific Bank Fukuho Bank Minami-Nippon Bank
Type of shares The North Pacific Bank, Ltd. Class 1 preferred shares The Fukuho Bank, Ltd. Class A preferred shares The Minami-Nippon Bank, Ltd. Class A preferred shares
Total amount ¥100 billion ¥6 billion ¥15 billion
Number of shares issued 200 million shares 6 million shares 30 million shares
Issue price ¥500 per share ¥1,000 per share ¥500 per share

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