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During the 1990s, Yasuda Trust & Banking expanded to become the 23rd-largest banking organization in Japan with ca. US$61 billion total assets, [3] but had to cope with mounting bad loans. [4] On 28 January 1999, its financial condition became unsustainable and it was announced that it would be absorbed into Fuji Bank. [ 5 ]
Marunouchi headquarters for the Mitsubishi zaibatsu, 1909. Zaibatsu (財閥, lit. ' asset clique ') is a Japanese term referring to industrial and financial vertically integrated business conglomerates in the Empire of Japan, whose influence and size allowed control over significant parts of the Japanese economy from the Meiji period to World War II.
It was the main bank of the Yasuda zaibatsu until World War II, and afterwards of the Fuyo Group. The Fuji Bank combined with Dai-Ichi Kangyo Bank and the Industrial Bank of Japan in 2000 to form Mizuho Financial Group, and changed its name to Mizuho Corporate Bank in 2002 after transferring its retail banking operations to Mizuho Bank.
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Zaibatsu — Japanese conglomerate companies of the Empire of Japan. All zaibatsu were disestablished the end of WW II in 1945. Some were reformed as keiretsu and/or present day conglomerate companies.
Fujita was founded by Densaburo Fujita, who created a zaibatsu (pre-war conglomerate) by producing military goods during the Satsuma Rebellion and rapidly expanded his business to construction, mining, and other businesses. After World War II, the Allied Occupation authorities broke up the zaibatsu conglomerates.
Following Japan's defeat in August 1945, Hajime Yasuda and Yasuda executives assumed a leadership role in planning for the dissolution of their own group. The "Yasuda plan" was submitted in October 1945 and stipulated that the Yasuda zaibatsu would be dissolved and that Yasuda Bank would cease to control Yasuda subsidiaries.
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