Advertisement
 
YOU ARE HERE: LAT HomeCollectionsBank Of Tokyo
IN THE NEWS

Bank Of Tokyo

FEATURED ARTICLES
BUSINESS
May 9, 1995 | DAVID HOLLEY, TIMES STAFF WRITER
Japan's top foreign exchange expert declared Monday that "a clear loss of confidence in the dollar" has occurred and warned that "a major crisis is certainly approaching." Bank of Tokyo Chairman Toyoo Gyoten, recently appointed foreign exchange trouble-shooter to the finance minister, sharply criticized what he called a lack of political leadership in both Japan and the United States and said he is afraid no action will be taken to forestall a collapse of the dollar's value.
ARTICLES BY DATE
BUSINESS
July 31, 1999 | E. Scott Reckard
An Orange County investment group said Friday that it completed the purchase of defaulted and foreclosed Japanese loans with a face amount of $1.7 billion from Bank of Tokyo-Mitsubishi, the world's biggest bank. Pacific Capital Investors, the 9-month-old local group, is competing with large Wall Street firms and "vulture funds" also hoping to benefit by buying bad debts in Japan at a fraction of their face value, then striking deals with the borrowers to repay them at steep discounts.
Advertisement
BUSINESS
March 9, 1996 | Times Staff and Wire Reports
Mitsubishi Bank Gets OK to Buy Bank of Tokyo Units: The Federal Reserve's approval of Mitsubishi Bank's plan to purchase the U.S. subsidiaries of the Bank of Tokyo is an important step toward a merger that will create the world's largest bank. In the United States, the two banks operate subsidiary banks in California. The Fed said the merger would not mean an unfair competitive advantage for the combined company, which would be the third-largest bank in the state.
BUSINESS
April 2, 1999 | E. SCOTT RECKARD and MARK MAGNIER, TIMES STAFF WRITERS
Vying with Wall Street giants and "vulture funds" in a speculative market, an upstart Orange County group has agreed to buy $1.7 billion in bad Japanese loans for a fraction of their face value. Pacific Capital Investors, which includes former American Savings & Loan chief William J. Popejoy, struck the deal after months of negotiations with Bank of Tokyo-Mitsubishi, the world's biggest bank.
BUSINESS
March 29, 1995 | DAVID HOLLEY and EVELYN IRITANI, TIMES STAFF WRITERS
Two elite Japanese financial institutions, Mitsubishi Bank Ltd. and Bank of Tokyo Ltd., announced Tuesday that they have agreed to merge into the world's largest bank--a behemoth more than three times the size of Citicorp, the largest U.S. competitor. The sheer size of the merged enterprise, which would own assets of more than $814 billion, underscores the vastness of Japan's banking network and promises to bring a powerful new competitor to the international banking scene.
BUSINESS
July 24, 1995 | Times Staff and Wire Reports
1st Foreign Bank Branch Opens in Beijing: China's capital was opened to foreign bank branches when Beijing Mayor Li Qiyan cut the ribbon for the Bank of Tokyo branch. The event came 40 years after China's Communist rulers threw out all overseas capitalists. Tasuku Takagaki, president of the Japanese bank, said the move was essential in a city that wields so much economic and political clout. Hong Kong & Shanghai Banking Corp.
NEWS
February 17, 1988 | DOUGLAS FRANTZ, Times Staff Writer
A subsidiary of the Bank of Tokyo agreed Tuesday to acquire Union Bank of California from its British owners in a transaction that will create the second-largest foreign-owned banking company in the United States. The proposed $750-million purchase of California's fifth-largest bank, which is headquartered in Los Angeles, represents the largest direct Japanese investment in the U.S. financial services industry and is part of a growing Japanese economic presence in the U.S.
BUSINESS
September 17, 1992 | From Bloomberg Business News
Mitsubishi Bank and Bank of Tokyo on Wednesday denied financial market rumors that they are preparing to merge. Rumors have been that the banks were ready to combine forces to become the world's largest institution in terms of outstanding loan assets. If the banks merged, their assets would total more than $720 billion. Stock and bond traders said a fax-based news letter called U.S. Frontline News reported that the banks were in the final stages of negotiating a merger.
BUSINESS
July 31, 1999 | E. Scott Reckard
An Orange County investment group said Friday that it completed the purchase of defaulted and foreclosed Japanese loans with a face amount of $1.7 billion from Bank of Tokyo-Mitsubishi, the world's biggest bank. Pacific Capital Investors, the 9-month-old local group, is competing with large Wall Street firms and "vulture funds" also hoping to benefit by buying bad debts in Japan at a fraction of their face value, then striking deals with the borrowers to repay them at steep discounts.
BUSINESS
March 9, 1996 | Times Staff and Wire Reports
Mitsubishi Bank Gets OK to Buy Bank of Tokyo Units: The Federal Reserve's approval of Mitsubishi Bank's plan to purchase the U.S. subsidiaries of the Bank of Tokyo is an important step toward a merger that will create the world's largest bank. In the United States, the two banks operate subsidiary banks in California. The Fed said the merger would not mean an unfair competitive advantage for the combined company, which would be the third-largest bank in the state.
BUSINESS
July 24, 1995 | Times Staff and Wire Reports
1st Foreign Bank Branch Opens in Beijing: China's capital was opened to foreign bank branches when Beijing Mayor Li Qiyan cut the ribbon for the Bank of Tokyo branch. The event came 40 years after China's Communist rulers threw out all overseas capitalists. Tasuku Takagaki, president of the Japanese bank, said the move was essential in a city that wields so much economic and political clout. Hong Kong & Shanghai Banking Corp.
BUSINESS
May 9, 1995 | DAVID HOLLEY, TIMES STAFF WRITER
Japan's top foreign exchange expert declared Monday that "a clear loss of confidence in the dollar" has occurred and warned that "a major crisis is certainly approaching." Bank of Tokyo Chairman Toyoo Gyoten, recently appointed foreign exchange trouble-shooter to the finance minister, sharply criticized what he called a lack of political leadership in both Japan and the United States and said he is afraid no action will be taken to forestall a collapse of the dollar's value.
BUSINESS
April 1, 1995 | EVELYN IRITANI and DAVID HOLLEY, TIMES STAFF WRITERS
The announcement this week that Japan would give birth to a banking Goliath was electrifying to the nation's debt-strapped banking community, but analysts believe its greater long-term effect may be to position Japan as the leading regional center for Asian trade.
BUSINESS
March 29, 1995 | DAVID HOLLEY and EVELYN IRITANI, TIMES STAFF WRITERS
Two elite Japanese financial institutions, Mitsubishi Bank Ltd. and Bank of Tokyo Ltd., announced Tuesday that they have agreed to merge into the world's largest bank--a behemoth more than three times the size of Citicorp, the largest U.S. competitor. The sheer size of the merged enterprise, which would own assets of more than $814 billion, underscores the vastness of Japan's banking network and promises to bring a powerful new competitor to the international banking scene.
BUSINESS
September 17, 1992 | From Bloomberg Business News
Mitsubishi Bank and Bank of Tokyo on Wednesday denied financial market rumors that they are preparing to merge. Rumors have been that the banks were ready to combine forces to become the world's largest institution in terms of outstanding loan assets. If the banks merged, their assets would total more than $720 billion. Stock and bond traders said a fax-based news letter called U.S. Frontline News reported that the banks were in the final stages of negotiating a merger.
BUSINESS
April 2, 1999 | E. SCOTT RECKARD and MARK MAGNIER, TIMES STAFF WRITERS
Vying with Wall Street giants and "vulture funds" in a speculative market, an upstart Orange County group has agreed to buy $1.7 billion in bad Japanese loans for a fraction of their face value. Pacific Capital Investors, which includes former American Savings & Loan chief William J. Popejoy, struck the deal after months of negotiations with Bank of Tokyo-Mitsubishi, the world's biggest bank.
BUSINESS
October 31, 1988 | Douglas Frantz, Times Staff Writer
The only task harder than finding two banks as different as California First Bank and Union Bank may turn out to be combining them into a single, efficient institution. When Cal First completes its acquisition of Union at the close of business today, executives of the new organization will confront a job of huge proportions. And they will have to perform it under careful scrutiny on an international stage.
BUSINESS
August 3, 1989 | JAMES BATES
A top Bank of Tokyo executive has been named chairman of Union Bank, effective Sept. 27. Jiro Ishizaka, 61, also was elected to the board of the San Francisco bank, effective immediately. Ishizaka most recently was an adviser to the president of Bank of Tokyo, Minoru Inouye. Union Bank is 77% owned by Bank of Tokyo. Ishizaka's office will be in Los Angeles, the bank said. Ishizaka replaces Tamotsu Yamaguchi, who will continue serving as a Union Bank director.
Los Angeles Times Articles
|