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Tokyo TY Financial partners with Senshu Ikeda to expand business

Tokyo-based Tokyo TY Financial Group Inc. and Osaka-based Senshu Ikeda Holdings Inc. will cooperate to link businesses of their customers in Japan's two biggest metropolitan areas.

Under a cooperation agreement, the two regional banks, together with Tokyo TY Financial units Tokyo Tomin Bank Ltd., Yachiyo Bank Ltd. and ShinGinko Tokyo Ltd., will help their customers expand their businesses, find business partners and seek M&A opportunities in each others' areas.

Many regional banks in Japan have been enhancing their business in metropolitan areas amid the country's shrinking population and stagnant economy.