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Higo Bank acquiring 90% stake in JR Kyushu Financial Management

Higo Bank Ltd. is acquiring a 90% stake in JR Kyushu Financial Management K.K. from Kyushu Railway Group, widely known as JR Kyushu.

Higo Bank's parent company Kyushu Financial Group Inc. said the takeover is part of its midterm business strategy to offer comprehensive financial services in the Kyushu region, Japan. Higo Bank is acquiring 7,200 JR Kyushu Financial Management shares for an undisclosed sum.

Upon completion of the transfer on Oct. 2, JR Kyushu Financial Management will change its name to JR Kyushu FG Lease Co. Ltd.