Asahi Bank's shareholders on Thursday approved a proposal to integrate operations with Daiwa Bank Holdings Inc., Asahi Bank officials said.
The endorsement came at an extraordinary meeting of shareholders. The integration is contingent on an endorsement by Daiwa Bank shareholders in a meeting slated for February.
Asahi's top brass faced a barrage of questions from shareholders keen to find out to what degree Asahi has disposed of its bad loans to large-lot corporate borrowers and the rationale for the integration with Daiwa.