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(Provisional Translation)
July 25,2008
Financial Services Agency

Administrative Actions on Aozora Bank, Ltd.

  1. The Financial Services Agency (FSA) today issued a business improvement order to Aozora Bank, LTD. [hereinafter referred to as "Aozora"] based on Article 20, Paragraph 2 of Act on Emergency Measures for Early Strengthening of Financial Functions [hereinafter referred to as "the Early Strengthening Act"] and Article 26, Paragraph 1 of the Banking Act. The FSA recognized the need to take administrative actions on Aozora in order to ensure the fulfillment of the bank's business revitalization plan, because the bank's actual profits fell considerably short of its profit targets as of the end of March 2008, set in the business revitalization plan.
  2. The contents of the business improvement order are as follows.

    • [1]Aozora must submit a business improvement plan to the FSA by August 25, 2008. The plan should contain concrete measures to fundamentally improve the bank's profitability.

    • [2]Aozora must implement the new business improvement plan steadily.

    • [3]Aozora must report to the FSA on the progress made in implementing the plan within two months after the end of every quarter, starting from the end of September 2008, until it is confirmed that the plan has been fully implemented.

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Financial Services Agency
Tel +81-(0)3-3506-6000 (main)
Financial System Stabilization Management Office, Supervisory Coordination Division, Supervisory Bureau (ext. 3222)

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