Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,  BELGIË  
 
Tel: +32 229- 91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu.  
  EUROPEAN COMMISSION  
Brussels, 18.6.2021 
C(2021)  4614 final  
PUBLIC VERSION  
Mizuho Bank Ltd. 
Otemachi Tower, 1 -5-5 Otemachi,   
Chiyoda -ku, Tokyo 100- 8176 
Japan  
 
MUFG Bank Ltd.  
7-1 Marunouchi 2- Chome,  
Chiyoda -ku, Tokyo 100- 0005 
Japan  
 
Resona Bank Limited  
2-2-1 Bingomachi, Chuo -ku,  
Osaka 541- 0051 
Japan  
 
Saitama Resona Bank Limited  
7-4-1 Tokiwa, Urawa -ku,  
Saitama 330 -9088 
Japan  
 Sumimoto Mitsui Banking Corporation 
1-2 Marunouchi 1- chome  
Chiyoda -ku, Tokyo 100- 0005 
Japan  
Subject : Case M.10294 – MUFG  / SMFG / MHFG / RESONA HD / JV  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No  139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘ Communi ty’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 

2 Dear Sir or Madam,  
1. On 20 May 2021, the  European Commission received notification of a proposed 
concentra tion pursuant to Article 4 of the Merger  Regulation by which the 
undertakings Mitsubishi UFJ Financial Group, Inc. (‘MUFG’, Japan) , Sumitomo 
Mitsui Financial Group, Inc. (‘SMFG’, Japan), Mizuho Financial Group, Inc. 
(‘MHFG’, Japan)  and Resona Holdings, Inc. (‘Resona HD’, Japan) , acquire within the 
meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control over Cotra 
Co., Ltd. (Japan), a newly created joint venture (the ‘JV’)  by way of purchase of 
shares.3 
2. The business activities of the un dertakings concerned are:  
− MUFG, SMFG, MHFG and Resona HD are banking groups based in Japan, 
− the JV will develop and set up a new alternative electronic payments infrastructure exclusively in Japan, aimed mainly at small money transactions among and between individuals.  
3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation and of 
paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of  
certain concentrations under Council Regulation (EC) No  139/2004.
4 
4. For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation and Article 57 of 
the EEA Agreement . 
For the Commission  
  (Signed)  
Olivier GUERSENT  
Director -General  
  
                                                 
3  Publication in the Official Journal of the European Union No C 205, 31.05.2021 , p. 11. 
4  OJ C 366, 14.12.2013, p. 5.