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(Material #11)
Evaluation of improvement made upon the plans for restoring sound management
Positive elements:
1.Endeavors for financial realignment
(1) Planned endeavors for financial realignment (e.g. mergers, subsidiarization, tie-ups in terms of capital consolidation, etc.).
(2) Steps toward tie-ups across other business sectors.
2.Business restructuring
(1) Complete withdrawal from overseas activities (in the case of regional banks) or reduction in the number of overseas branches and subsidiaries.
(2) A specific, clearly articulated strategic plan for improved profitability.
(3) Drastic measures for reforming organization.
3.Rationalization(“Risutora”)
(1) Cutdown on total personnel expenses.
(2) Reduction in the number of directors and employees.
(3) Cutdown on non-personnel expenses (excluding investment in mechanization).
4.Other
(1) Increase in loan balances (on an actual basis excluding impact loans).
(2) Planned self-raising of capital.
(3) Truly sufficient amount of public funds injection.
(4) Accuracy of credit rating (toward borrowing companies).
(5) Specific plan for liquidating non-performing assets (through write-offs, etc.).
(6) Abolition of the post of senior counselor or advisor.
(7) Sufficient cut in average monthly wage expense. (or revision in the wage structure) .
(8) Cut in dividend payment.
Negative elements:
(1) Delay in disposing unrealized losses regarding the bank’s securities holdings.
(2) Insufficient explanation on the circumstances regarding the bad debt problem ,etc.
(3) Non-decrease or increase in the number of directors
(4) Excessive expenses on directors’ bonus, salary, and retirement benefits.
(5) Increase in non-personnel expences (excluding investment in mechanization).
(6) Insufficient disposal of non-operating facilities.
(Material #12)
Withdrawal from overseas activities
Overseas branches and subsidiaries |
| . | End of March 1998 |
End of March 2003 (planned) |
Decrease in number |
IBJ |
38 |
28 |
-10 (-26.3%) |
Daiichi-kangyo |
46 |
31 |
-15 (-32.6%) |
Sakura |
46 |
32 |
-14 (-30.4%) |
Fuji |
43 |
27 |
-16 (-37.2%) |
Sumitomo |
64 |
36 |
-28 (-43.8%) |
Sanwa |
45 |
33 |
-12 (-26.7%) |
Tokai |
46 |
21 |
-25 (-54.3%) |
Asahi |
21 |
6 |
-15 (-71.4%) |
Mitsubishi Trust |
19 |
10 |
-9 (-47.4%) |
Sumitomo Trust |
16 |
6 |
-10 (-62.5%) |
(Mterial #13)
| Restructuring efforts (planned decreases) |
|
| . | Number of directors |
Number of employees |
Personnel expenses |
Non-personnel
expenses |
||||||||
end March |
end
March |
end March |
end
March |
end March |
end
March |
end March |
end
March |
|||||
IBJ |
35 |
18 |
<-48.6> |
4,776 |
4,482 |
<-6.2> |
68,600 |
68,000 |
<-0.9> |
60,700 |
49,800 |
<-18.0> |
Daiichi-kangyo |
35 |
25or less |
<-28.6> |
16,130 |
13,200 |
<-18.2> |
165,600 |
138,300 |
<-16.5> |
166,200 |
149,300 |
<-10.2> |
Sakura |
51 |
appr. 21 |
<-58.8> |
16,700 |
13,200 |
<-21.0> |
179,900 |
152,100 |
<-15.5> |
195,300 |
185,700 |
<-4.9> |
Fuji |
41 |
34 |
<-17.1> |
14,250 |
13,000 |
<-8.8> |
153,000 |
137,500 |
<-10.1> |
137,000 |
132,500 |
<-3.3> |
Sumitomo |
43 |
38 |
<-11.6> |
15,000 |
13,000 |
<-13.3> |
156,100 |
147,300 |
<-5.6> |
137,800 |
128,900 |
<-6.5> |
Daiwa |
31 |
20 |
<-35.5> |
7,640 |
6,300 |
<-17.5> |
63,000 |
52,300 |
<-17.0> |
91,778 |
89,569 |
<-2.4> |
Sanwa |
40 |
15 |
<-62.5> |
13,600 |
11,400 |
<-16.2> |
148,400 |
125,600 |
<-15.4> |
144,400 |
140,900 |
<-2.4> |
Tokai |
15 |
17 |
<+13.3> |
11,125 |
9,731 |
<-12.5> |
111,600 |
92,700 |
<-16.9> |
89,705 |
82,996 |
<-7.5> |
Asahiｉ |
39 |
31 |
<-20.5> |
12,800 |
11,800 |
<-7.8> |
113,700 |
107,000 |
<-5.9> |
94,000 |
93,000 |
<-1.1> |
Yokohama |
19 |
12 |
<-36.8> |
5,718 |
4,512 |
<-21.1> |
50,500 |
43,000 |
<-14.9> |
41,700 |
40,000 |
<-4.1> |
Mitsubishi Trust |
34 |
30 |
<-11.8> |
4,932 |
4,695 |
<-4.8> |
68,293 |
62,640 |
<-8.3> |
60,086 |
59,828 |
<-0.4> |
Sumitomo Trust |
32 |
18 |
<-43.8> |
5,900 |
5,200 |
<-11.9> |
61,000 |
52,000 |
<-14.8> |
56,500 |
53,600 |
<-5.1> |
Toyo Trust |
30 |
18 |
<-40.0> |
4,100 |
3,400 |
<-17.1> |
42,300 |
38,100 |
<-9.9> |
30,700 |
30,000 |
<-2.3> |
Mitsui Trust |
55 |
32 |
<-41.8> |
9,980 |
8,900 |
<-10.8> |
91,600 |
82,100 |
<-10.4> |
78,300 |
71,600 |
<-8.6> |
Total |
500 |
329 |
<-34.2> |
142,651 |
122,820 |
<-13.9> |
1,473,593 |
1,298,640 |
<-11.9> |
1,384,169 |
1,307,693 |
<-5.5> |
| (Note) | Figures of Mitsui Trust + Chuo Trust at the end of March 2003 represent post-merger status. |
| . | Salary and bonus for directors [A] (\ million) |
Average of [A] |
Average retirement |
Average salary for |
|||||||||
| . | Salary |
Bonus |
|||||||||||
end March |
end March |
end March |
end March |
end March |
end March |
end March |
end March |
end March |
end March |
end March |
end March |
a - b |
|
IBJ |
778 |
589 |
712 |
589 |
66(0) |
0(0) |
23 |
27 |
40 |
41 |
487 |
490 |
3 |
Daiichi-kangyo |
984 |
681 |
924 |
647 |
60(0) |
34(0) |
28 |
26 |
33 |
33 |
470 |
465 |
-5 |
Sakura |
1,116 |
546 |
1,093 |
546 |
23(0) |
0(0) |
21 |
27 |
45 |
40 |
498 |
499 |
1 |
Fuji |
968 |
820 |
931 |
788 |
37(0) |
32(0) |
25 |
25 |
59 |
47 |
489 |
493 |
4 |
Sumitomo |
1,159 |
1,000 |
1,115 |
960 |
44(0) |
40(0) |
29 |
29 |
72 |
90 |
498 |
505 |
7 |
Daiwa |
652 |
406 |
628 |
393 |
24(0) |
14(0) |
22 |
20 |
62 |
42 |
468 |
461 |
-7 |
Sanwa |
1,210 |
440 |
1,180 |
440 |
30(0) |
0(0) |
30 |
29 |
102 |
59 |
486 |
482 |
-4 |
Tokai |
597 |
468 |
581 |
468 |
16(0) |
0(0) |
32 |
30 |
33 |
53 |
448 |
455 |
7 |
Asahi |
813 |
654 |
803 |
654 |
10(0) |
0(0) |
21 |
21 |
49 |
49 |
455 |
437 |
-18 |
Yokohama |
389 |
214 |
383 |
214 |
6(0) |
0(0) |
19 |
19 |
41 |
41 |
449 |
438 |
-11 |
Mitsubishi Trust |
766 |
608 |
665 |
547 |
101(0) |
61(0) |
22 |
20 |
56 |
51 |
491 |
480 |
-11 |
Sumitomo Trust |
636 |
400 |
588 |
400 |
48(0) |
0(0) |
20 |
22 |
59 |
50 |
444 |
426 |
-18 |
Toyo Trust |
626 |
379 |
576 |
379 |
50(0) |
0(0) |
21 |
20 |
73 |
45 |
455 |
425 |
-30 |
Mitsui Trust |
1,171 |
724 |
1,073 |
724 |
98(0) |
0(0) |
26 |
24 |
46 |
45 |
416 |
407 |
-9 |
Avarage |
848 |
566 |
804 |
554 |
44(0) |
12(0) |
24 |
24 |
55 |
49 |
468 |
462 |
-6 |
| (Note) | 1.Pensions for directors are excluded. |
| 2.Figures in the parenthesis exclude benefits to operating directors |
Planned endeavors for financial realignments
| ・ | Yasuda Trust to become a subsidiary of Fuji (March
1999) |
| ・ | Sanwa and Toyo Trust to tie up in terms of capital
base consolidation and business operations (March 1999) |
| ・ | Sumitomo and Daiwa Securities to enter into a broad
tie up |
| ・ | Daiwa to lead financial realignment of the regional
financial institutions in the Kansai Region |
| ・ | Asahi and Tokai to tie up |
| ・ | IBJ, Nomura Securities, and Daiici Life to tie up |
| ・ | Mitsui Trust and Chuo Trust to merge (April 2000) |
| ・ | Yokohama (going to close its affiliated securities company) to tie up with the affiliated securities company of Tokai |