Japanese law firm Nishimura & Asahi has advised financial services group Resona Holdings on its JPY90 billion (USD572 million) strategic capital and business alliance with West Japan Railway Company (JR West) and Kansai Mirai Bank.
Tokyo-based partners Tatsuya Tanigawa, Tatsuya Nakayama, Susumu Tanizawa and Yohei Omata led the transaction team.
Under the agreement, JR West will purchase 20 million shares of Kansai Mirai Bank from Resona Holdings for JPY90 billion, subject to regulatory approvals.
The alliance will also involve the launch of a new banking service, tentatively named Wester Mirai Bank, aimed at enhancing transportation-linked services and improving lifestyles along railway corridors in Western Japan, including the Kansai urban area.
After obtaining all the necessary approvals, the parties aim to commence the banking service in the 2027 fiscal year.
