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Saitama Bank Ltd

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BUSINESS
February 27, 1990 | KATHY M. KRISTOF, TIMES STAFF WRITER
A Los Angeles executive filed suit Monday against Saitama Bank Ltd. in what is believed to be one of the first such actions by a U.S. shareholder against a Japanese company. Robert Wang, president of Trans Orient Trading Co. in Los Angeles, alleges that Saitama and its directors wasted and mismanaged corporate assets and breached fiduciary duties by purchasing a huge block of stock in a Japanese manufacturing company at what Wang contends were grossly inflated prices.
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BUSINESS
November 14, 1990 | From United Press International
Kyowa Bank and Saitama Bank said Tuesday that they have agreed in principle to merge April 1 to form one of the world's largest banks, with deposits totaling about $177 billion. Sources said the merger is expected to prompt other banks to follow suit, triggering reorganization of Japan's banking industry amid globalization and liberalization of financial markets.
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BUSINESS
November 14, 1990 | From United Press International
Kyowa Bank and Saitama Bank said Tuesday that they have agreed in principle to merge April 1 to form one of the world's largest banks, with deposits totaling about $177 billion. Sources said the merger is expected to prompt other banks to follow suit, triggering reorganization of Japan's banking industry amid globalization and liberalization of financial markets.
BUSINESS
February 27, 1990 | KATHY M. KRISTOF, TIMES STAFF WRITER
A Los Angeles executive filed suit Monday against Saitama Bank Ltd. in what is believed to be one of the first such actions by a U.S. shareholder against a Japanese company. Robert Wang, president of Trans Orient Trading Co. in Los Angeles, alleges that Saitama and its directors wasted and mismanaged corporate assets and breached fiduciary duties by purchasing a huge block of stock in a Japanese manufacturing company at what Wang contends were grossly inflated prices.
BUSINESS
March 5, 1990 | From United Press International
Suit Against Saitama Bank: Robert Wang, a Los Angeles businessman and stockholder, filed suit in U.S. District Court against Saitama Bank Ltd., charging that the Japanese bank breached its fiduciary duty to stockholders by purchasing a major block of stock in a company at a significantly inflated price. The suit alleges that the bank violated securities laws in the United States and Japan by not disclosing that the stock purchased was of a company closely affiliated with the bank.
BUSINESS
July 28, 1992
Japanese banks continue to dominate the rankings of the world's biggest institutions. But European banks, especially French ones, gained ground as some Japanese banks slimmed down because of a soft domestic economy. Although several major U.S. banks--including BankAmerica, NationsBank and Chemical Banking--have grown substantially because of mergers, only one, New York's Citicorp, is among the world's top 25 banks. Assets Rank Bank Headquarters (billions) 1 Dai-Ichi Kangyo Bank Ltd. Tokyo $446.
BUSINESS
July 30, 1991 | LESLIE HELM, TIMES STAFF WRITER
In what they said was an effort to "win back trust," Japan's big brokerages agreed Monday to release a list of customers who received compensation for stock market losses. The presidents of the "Big Four" brokerages jointly decided to formally release the names after the list was published in the Nihon Keizai Shimbun, Japan's leading business daily, and government officials called for disclosures. Some of Japan's biggest manufacturing companies, including Toyota Motor Corp., Nissan Motor Co.
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