Financial Services Agency
The bank was renamed "Aozora" in 2001. Softbank initially planned to make Aozora an investment bank for internet-related companies. However, Softbank was unsuccessful in obtaining the cooperation of the Financial Services Agency, and sold its 49% stake to Cerberus Capital Management in September 2003 for ¥101 billion. Aozora launched operations as a retail bank on April 1, 2006, and opened its first new branch in Nihonbashi on November 20.