Japan

Nomura Holdings, Inc. has adjusted the conversion price for its First Series of Unsecured Subordinated Convertible Bonds with Stock Acquisition Rights issued on 16 December 2008 from 436.5 yen to 406.8 yen.

The Nomura Trust and Banking Co., Ltd., a wholly owned subsidiary of Nomura Holdings, Inc., has successfully completed the acquisition of NikkoCiti Trust and Banking Corporation. Nomura paid all-cash consideration of 19 billion yen, subject to certain purchase price adjustments to occur post-closing. Under new management, NikkoCiti Trust and Banking will continue to focus on its traditional strengths of providing fiduciary and trustee services to investment trust management companies. Nomura is aiming to merge NikkoCiti Trust and Banking with Nomura Trust and Banking in 2010 and is moving swiftly to ensure a smooth integration of the two businesses. Established in 1993, NikkoCiti Trust and Banking employed 107 people as of March 31, 2009, and had capital of 20 billion yen. Total trust assets stood at around 4.5 trillion yen at the end of March. Nomura Trust and Banking provides both trust and banking services as a key Nomura Group company. Founded in 1993, Nomura Trust and Banking employed 261 people as of March 31, 2009, and had capital of 30 billion yen. Total trust assets were around 19.5 trillion yen at the end of March.

HSBC Bank plc, a wholly-owned subsidiary of HSBC Holdings plc, has set the size of its inaugural samurai bonds at JPY119.4 billion. This is almost twice the proposed size of JPY60 billion which was initially registered on 31 August, 2009. The HSBC samurai bonds comprise one fixed rate tranche (total size of JPY89.8 billion) and one floating rate tranche (total size of JPY29.6 billion), each with a 5-year tenor. The fixed rate bond carries a coupon of 1.49 per cent or 60 basis points over the 5-year yen swap offer rate. The floating rate bond was priced at 70 basis points over 3-month yen Libor. The closing and maturity dates are 29 September, 2009 and 29 September, 2014 respectively. Commenting on the successful offering, Ian Jenkins, European Regional Chief Financial Officer, HSBC Bank plc, said, “We are very pleased with this transaction, all the more so for it being HSBC Bank plc’s debut Samurai issue. It is the largest non-guaranteed Samurai issue so far in 2009 and it priced at the tight end of our expectations. The tremendous reception given to this issue by Japanese investors reflects the quality of the HSBC name and the high regard for HSBC in Japan.” HSBC Securities (Japan) Limited, Mitsubishi UFJ Securities Co., Ltd. and Mizuho Securities Co., Ltd. acted as Joint Lead Managers for the bonds.

MUFG Capital Finance 9 Limited and BTMU Preferred Capital 9 Limited will become Specified Subsidiaries (Tokutei Kogaisha) of MUFG. The two special purpose companies will increase their stated capital.

Nomura Asset Management has agreed to purchase a 35 percent stake in LIC Mutual Fund Asset Management Company, a subsidiary of LIC.

The Nomura Trust and Banking Co., Ltd. will acquire all of the shares of NikkoCiti Trust and Banking Corporation.

What was previously known as the New City Asia Opportunity Fund will now be renamed as Phoenix Real Estate Fund upon turnover of all management responsibility to ING Real Estate Investment Management.

Japanese investors are now offered not only investment opportunities but also a means to help in immunisation programmes for underprivileged children.

Mitsubishi UFJ Financial Group has decided to purchase shares of common stock of Morgan Stanley for approximately US$440 million.

The Bank of Ikeda, Ltd. and the Senshu Bank Ltd., a consolidated subsidiary of the Bank of Tokyo-Mitsubishi UFJ, Ltd., have entered into an agreement concerning their business integration with BTMU.

Following the change in Morgan Stanley's public offering, MUFG has revised its decision regarding the purchase of Morgan Stanley's shares of common stock. On May 11, 2009 (Tokyo Time), Mitsubishi UFJ Financial Group, Inc. (MUFG) made an announcement “Acquisition by MUFG of Morgan Stanley Common Stock and Partial Sale of Preferred Stock” regarding its decision to purchase shares of common stock of Morgan Stanley in a public offering by Morgan Stanley. In response to Morgan Stanley’s upsizing of the public offering, MUFG has made the decision described below to revise its original decision:

Nomura Holdings, Inc. has adjusted the conversion price for its First Series of Unsecured Subordinated Convertible Bonds with Stock Acquisition Rights issued on 16 December 2008 from US$4.48 to US$4.46.

Mitsubishi UFJ Financial Group, Inc. (MUFG) has announced the revisions of its forecasts of earnings and dividend per share on common stock for the fiscal year ended 31 March 2009.