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Japan antitrust watchdog OKs planned merger of Daishi Bank, Hokuetsu Bank

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Japan antitrust watchdog OKs planned merger of Daishi Bank, Hokuetsu Bank

The Japan Fair Trade Commission approved the planned merger of Daishi Bank Ltd. and Hokuetsu Bank Ltd. after a detailed review.

After reviewing the transaction, the Japanese antitrust watchdog concluded that competition in any particular field of trade is unlikely to be substantially restrained.

The two banks previously decided to delay their merger due to monopoly concerns raised by the commission.

The Japan Fair Trade Commission has issued a notification to the respective banks saying that it will not issue a cease-and-desist order.