CELEX: 32021M10294
Language: en
Date: 2021-06-18 00:00:00
Title: Commission Decision of 18/06/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10294 - MUFG / SMFG / MHFG / RESONA HD / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

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
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
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 ‘Community’ 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’).
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.
 ---pagebreak--- Dear Sir or Madam,
1.   On 20 May 2021, the European Commission received notification of a proposed
     concentration 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 undertakings 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.
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