Hachijuni Bank forges Mt. Fuji • Alps alliance

The Hachijuni Bank (TSE:8359) today announced a comprehensive business alliance with Shizuoka Bank and Yamanashi Chuo Bank, launching the "Mt. Fuji • Alps Alliance." The alliance aims to address regional challenges, including population decline and labor shortages, by leveraging the unique strengths of each bank and the shared characteristics of the Shizuoka, Yamanashi, and Nagano prefectures. Key initiatives will focus on attracting investment, developing new businesses, and expanding venture and growth opportunities. The banks will jointly promote the Migration Promotion Project and strengthen mergers and acquisitions. Shizuoka Bank expects the alliance to bring in JPY12.0 billion in revenues over five years. While near-term consolidated financial results are not expected to be significantly impacted, the alliance seeks to create new value and share a vision for the three prefectures with the world.