Sumitomo Mitsui Trust Holdings
|Traded as||TYO: 8309|
|Founded||2002(as Chuo Mitsui Trust Holdings, Inc.)|
|Kazuo Tanabe (President)|
|JPY 83.7 billion (FY 2014)|
|Total assets||JPY 45.7 trillion (Dec. 2014)|
Number of employees
Sumitomo Mitsui Trust Holdings, Inc. (三井住友トラスト・ホールディングス株式会社 Mitsui Sumitomo Torasuto Hōrudingusu Kabushiki Gaisha), formerly Chuo Mitsui Trust Holdings, Inc., is a Japanese financial holding company headquartered in Chiyoda, Tokyo. It provides an assortment of financial solutions and financial products to retail and wholesale customers, with a focus on asset management, financial brokerage and real estate services.
Its main operating company is Sumitomo Mitsui Trust Bank, Limited (三井住友信託銀行株式会社 Mitsui Sumitomo Shintaku Ginkō Kabushiki Gaisha), which is the largest trust company and the fifth-largest bank in Japan measured by assets.
The company has no capital relationship with the Sumitomo Mitsui Financial Group; the two banking groups are similarly named because both are descended from the historical Sumitomo and Mitsui conglomerates.
There is just a weak control relationship between Sumitomo Mitsui Trust Holdings and Sumitomo Mitsui Financial Group. In fact SM Trust Holdings controls about 66% of Japan Trustee Services Bank. As of March 31, 2017, SM Financial Group's website reports that Japan Trustee Services Bank owned 5.50% of Sumitomo Mitsui Financial Group, but also 1.52% from trust location n. 1 (信託口1), 1.50% from trust location n. 2 (信託口2), 2.05% from location n. 5 (信託口5), 1.36% from trust location n. 7 (信託口7), and 1.85% from trust location n. 9 (信託口9) as well.
SMT's earliest predecessor was The Mitsui Trust Company, Limited, established in March 1924 with capital of 30 million yen. In March 1948, it changed its name to The Tokyo Trust & Banking Co., Ltd. It changed its name again to The Mitsui Trust and Banking Company, Limited in 1952.
The Chuo Trust & Banking Co., Ltd. was established in May 1962 with capital of 2.5 billion yen and support from Tokai Bank, Dai-Ichi Bank, Industrial Bank of Japan and other financial institutions. It took over Tokai and Dai-Ichi's trust businesses as well as the stock transfer agency business of Japan Securities Agents, Ltd. It acquired the Honshu operations of Hokkaido Takushoku Bank in 1998.
Mitsui Trust and Chuo Trust signed a merger agreement in May 1999 and completed their merger in April 2000, becoming The Chuo Mitsui Trust and Banking Company, Limited (中央三井信託銀行株式会社). In 2001, Chuo Mitsui announced its plans to establish a new bank holding company known as Mitsui Trust Holdings, Inc., which was formed in February 2002. It changed its name to Chuo Mitsui Trust Holdings, Inc. (中央三井トラスト・ホールディングス株式会社) in 2007.
Sumitomo Trust Co., Ltd. was founded in July 1925 with capital of 20 million yen and its headquarters in Awajicho, Osaka. It changed its name to Fuji Trust & Banking Co., Ltd. in 1948 and adopted the name The Sumitomo Trust and Banking Co., Ltd. (住友信託銀行株式会社) in 1952. In 1962 it moved its headquarters to the Sumitomo Building in Kitahama, Osaka.
Chuo Mitsui agreed to merge with The Sumitomo Trust and Banking Co., Ltd. in November 2009, and formed a holding company, Sumitomo Mitsui Trust Holdings, Inc., by a share exchange between Chuo Mitsui and Sumitomo Trust in April 2011. The three main trust banks under this holding company merged in April 2012 to form Sumitomo Mitsui Trust Bank, Limited. SMTB became the largest trust bank in Japan and the fifth-largest commercial bank overall measured by assets.
SMTB was fined for insider trading in 2012, after a Chuo Mitsui fund manager was found to have traded on information leaked from Nomura Securities regarding a 2010 share issuance by Mizuho Financial Group.
- Sumitomo Mitsui Trust Bank, Limited - Core operating company
- Sumitomo Mitsui Trust Wealth Partners Co., Ltd. - Consulting for high net worth individuals
- Sumitomo Mitsui Trust Card Co., Ltd. - Issuer of Visa and MasterCard brand credit cards
- Sumitomo Mitsui Trust Guarantee Co., Ltd. - Loan guarantee service provider
- SBI Sumishin Net Bank, Ltd. - Internet banking joint venture with SBI Holdings
- Sumitomo Mitsui Trust Panasonic Finance Co., Ltd. - Financial services joint venture with Panasonic
- Sumitomo Mitsui Trust Loan & Finance Co., Ltd. - Mortgage loan company
- Sumitomo Mitsui Trust Capital Co., Ltd. - Private equity firm
- Sumitomo Mitsui Trust Investment Co., Ltd. - Venture capital firm
- Sumitomo Mitsui Trust (Hong Kong) Limited - Securities investment and advisory firm based in Hong Kong
- Zijin Trust Co., Ltd. - Trust company based in Nanjing, China
- Tokyo Securities Transfer Agent Co., Ltd. - Stock transfer agent
- Sumitomo Mitsui Trust TA Solution Co., Ltd. - System administration and business management company
- Japan Stockholders Data Service Company, Limited - Shareholder registry and stock transfer agency joint venture with Mizuho Trust Bank
- Japan Securities Agents, Ltd. - Stock transfer agent
- Sumitomo Mitsui Trust Realty Co., Ltd. - Residential real estate broker
- Sumitomo Mitsui Trust Real Estate Investment Management Co., Ltd. - Fund and asset manager
- Top REIT Asset Management Co., Ltd. - Real estate investment trust manager
- Mitsui & Co., Logistics Partners Ltd. - Real estate investment trust manager
- Sumitomo Mitsui Trust Research Institute Co., Ltd. - Corporate think tank
- Sumitomo Mitsui Trust Asset Management Co., Ltd. - Investment manager and advisor
- Nikko Asset Management Co., Ltd. - Asset manager
- Japan Trustee Services Bank, Ltd. - Securities custody administrator
- Japan Pension Operation Service, Ltd. - Corporate pension plan administrator
- Sumitomo Mitsui Trust Bank (U.S.A.) Limited - Global custody firm based in Hoboken, New Jersey
- Sumitomo Mitsui Trust Bank (Luxembourg) S.A. - Securities firm based in Luxembourg
- Sumitomo Mitsui Trust (Ireland) Limited - Securities firm based in Dublin
- Sumitomo Mitsui Trust (UK) Limited - Custody firm based in London
- Sumitomo Mitsui Trust International Limited - Securities firm based in London
- HR One Corporation - Human resources outsourcing and consulting firm jointly established with Panasonic, Mitsubishi Corporation, Kao Corporation and SAP
- "Status of Profit and Loss". Sumitomo Mitsui Trust Holdings, Inc. Retrieved 24 April 2015.
- "Financial Results for the Nine Months Ended December 31, 2014" (PDF). Sumitomo Mitsui Trust Holdings, Inc. Retrieved 24 April 2015.
- "Outline of Business". Sumitomo Mitsui Trust Holdings, Inc. Retrieved 24 April 2015.
- "Shareholding percentage". Sumitomo Mitsui Trust Holdings, Inc. Retrieved 31 March 2017.
- "History Chuo Mitsui Trust Group". Sumitomo Mitsui Trust Holdings, Inc. Retrieved 24 April 2015.
- "History The Sumitomo Trust & Banking Co., Ltd". Sumitomo Mitsui Trust Holdings, Inc. Retrieved 24 April 2015.
- Saito, Tokuhiko (2 April 2012). "Japan's largest trust bank is born". The Asahi Shimbun. Retrieved 24 April 2015.
- "SESC: Fine Sumitomo Mitsui Trust ¥80,000 for insider trading scam". The Japan Times. Jiji. 31 May 2012. Retrieved 24 April 2015.