SBI Shinsei Bank Applies for Relisting on TSE

Tokyo, July 11 (Jiji Press)–SBI Shinsei Bank, a unit of major Japanese online financial service group SBI Holdings Inc., on Friday applied for its relisting on the Tokyo Stock Exchange.

The bank, formerly Long-Term Credit Bank of Japan, which went bankrupted in 1998, plans to repay all of its remaining public funds worth about 230 billion yen to the government at the end of this month.

The parent holding company, which is set to shoulder the fund repayment, aims to position the subsidiary at the center of its “fourth megabank” plan. MUFG Bank, Mizuho Bank and Sumitomo Mitsui Banking Corp. are Japan’s three megabanks.

SBI Holdings made SBI Shinsei a subsidiary in 2021 through a tender offer. The bank was delisted from the TSE in September 2023.

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[Copyright The Jiji Press, Ltd.]