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	Resona Holdings, Inc. - Wikipedia, the free encyclopedia
		Resona Holdings, Inc. (りそなホールディングス) (TYO: 8308) is the fourth-largest banking group in Japan.
		The company was originally established on December 12, 2001 as Daiwa Bank Holdings, Inc., the result of the consolidation of Daiwa Bank, Kinki Osaka Bank, and Nara Bank.
		The Resona case would have had an impact on other major banks, which were also factoring in large amounts of deferred tax assets.
	en.wikipedia.org /wiki/Resona (183 words)

	Asia Times
		The story was told by the outgoing president of Resona, Yasuhisa Katsuta, who at a news conference on Saturday gave some of the detail of a heated clash between the bank and its independent auditor, Shin Nihon and Co, that is eerily similar to the audit scandals that are raging through the United States.
		Resona bitterly opposed the auditor - shades of Enron in the US - which is supposed to be independent in its decisions.
		Resona's case collapsed when Takenaka held a meeting of his task force on the banking problems, at which a senior Financial Services Agency (FSA) official is reported to have strongly supported the independence of the auditor's opinion.
	www.atimes.com /atimes/Japan/EE22Dh01.html (1972 words)

	CNN.com - Resona tumbles on bailout plan - May. 18, 2003
		The Resona rescue is the third such bailout of a Japanese bank using public funds in the past five years.
		Resona, which was formed from the merger of Daiwa Bank, Asahi Bank and three smaller banks in 2002, is now predicting a group net loss of 838 billion yen ($7.2 billion) for the year that ended on March 31.
		Resona's decision to seek public money was made after auditors declined to sign off on the group's earnings estimates, which were deemed to be far too optimistic, Reuters reported.
	edition.cnn.com /2003/BUSINESS/05/18/japan.resona (736 words)

	Japanese bank bailout reveals deepening economic crisis
		The demise of Resona, Japan’s fifth and the world’s 31st largest bank, is another demonstration of the fact that, despite the continuous injection of public funds, Japan’s banking crisis is steadily worsening.
		The Osaka-based Resona bank was created in March this year through the merger of the Asahi and Daiwa Banks, both of which are believed to have received around 1 trillion yen in previous public assistance.
		Resona’s problems surfaced almost immediately when it announced that its capital adequacy ratio had fallen to 2.07 percent, just half the 4 percent required for a domestically operating bank and a quarter of the 8 percent ratio required by banks operating internationally.
	www.wsws.org /articles/2003/may2003/japa-m28.shtml (1240 words)

	news @ accountancy.com.pk > Japan banks shiver as auditors flex muscles
		Some analysts said Resona, the fifth-largest bank in Japan with assets of 45 trillion yen ($389.2 billion), might have been singled out by the authorities pushing to make their financial reforms concrete and by auditors trying to assert themselves.
		Resona said that at the end of the business year in March its capital adequacy ratio had fallen below four per cent, the minimum needed to do business as a domestic bank, against a forecast 6.5-6.9 per cent.
		Resona's reliance on tax breaks in the form of DTAs was unusually high.
	www.accountancy.com.pk /pr_pg_newsprac.asp?newsid=293 (793 words)

	Steve Quayle News Alerts (Site not responding. Last check: 2007-10-20)
		Resona — the recent creation of a merger between Asahi and Daiwa banks —; has been regularly touted as the most vulnerable of the sector.
		Resona’s call for a capital injection was triggered by a new set of rules introduced in April.
		Resona has also suffered particularly from the deepening economic downturn since 78 per cent of its corporate loans were to small companies that have not weathered the storm well.
	stevequayle.com /News.alert/03_Money/030519.state.rescue.Jap.ba.html (473 words)

	Bloomberg.com: Top Worldwide (Site not responding. Last check: 2007-10-20)
		Resona was formerly known as Daiwa Bank Holdings Inc., a lending group that was formed in December 2001 in a three-way merger of Daiwa Bank Ltd., Kinki Osaka and Nara Bank Ltd. Asahi Bank Ltd. joined the group in March 2002.
		Resona said yesterday it probably had a net loss of 838 billion yen for the year ended March 31, compared with the 290 billion-yen loss it projected in March.
		Resona had 435 billion yen worth of deferred tax assets, after it was forced to relinquish 274 billion yen worth of those assets from a year before.
	quote.bloomberg.com /apps/news?pid=10000087&sid=aquW_6UT3wsc&refer=top_world_news (1358 words)

	Japanese Banks Hemorrhage SHANE GREEN / Sydney Morning Herald 27may03 (Site not responding. Last check: 2007-10-20)
		Resona, burdened by bad loans and a reduced value in its shareholdings, sought government help after its capital-to-assets ratio fell below the required 4 per cent to about 3 per cent.
		Resona Holdings Inc., the country's fifth-largest bank, on May 17 turned to the government for just such a bailout, the first in Japan since 1998.
		Resona didn't announce a forecast for this year because it is still writing a restructuring plan after the government bailout, but the rest of the banks predicted they would be profitable this year.
	www.mindfully.org /Industry/2003/Japanese-Banks-Hemorrhage27may03.htm (1470 words)

	Asia Risk magazine
		The nationalisation of Japan’s Resona Holdings, the country’s fifth-largest banking group, has raised hopes that the Japanese government is finally getting serious about solving the problems that have plagued the banking sector for the past decade.
		Resona Holdings requested an emergency injection of public funds from the Japanese government in mid-May, estimated to be around ¥2 trillion ($17.2 billion), effectively amounting to a nationalisation of the beleaguered bank.
		Following the audit, Resona was forced to reduce the DTAs on its balance sheet, leading the group to revise its 2002 net loss to ¥838 billion from earlier forecasts of ¥290 billion, pushing its capital adequacy ratio down to 3.78%.
	db.riskwaters.com /public/showPage.html?page=12545 (542 words)

	Print Article: Tokyo props up failed bank (Site not responding. Last check: 2007-10-20)
		The Koizumi administration decision effectively means that Resona Holdings Inc - Japan's fifth biggest banking group - will be nationalised, although the Government intends to limit its role in managing the bank.
		The situation was worse in the group's main banking arm, Resona Bank, where the ratio had fallen to about 2 per cent.
		The severity of Resona's problems threatened to drag down Japan's banking system and the Government had little choice but to act to prevent a crisis when the bank requested help.
	www.smh.com.au /cgi-bin/common/popupPrintArticle.pl?path=/articles/2003/05/18/1053196475216.html (431 words)

	Resona -- Facts, Info, and Encyclopedia article (Site not responding. Last check: 2007-10-20)
		Resona (りそな) is the fifth-largest (Transacting business with a bank; depositing or withdrawing funds or requesting a loan etc.) banking group in (A constitutional monarchy occupying the Japanese Archipelago; a world leader in electronics and automobile manufacture and ship building) Japan.
		The Resona case would have an impact on other main (A supply or stock held in reserve for future use (especially in emergencies)) banks, which are also factoring in large amounts of deferred tax assets.
		On May 17 2003, the (A constitutional monarchy occupying the Japanese Archipelago; a world leader in electronics and automobile manufacture and ship building) Japan government decided to inject public funds into the Resona Group.
	www.absoluteastronomy.com /encyclopedia/r/re/resona.htm (145 words)

	BBC NEWS \| Business \| Japan bank bailed out
		Resona said losses for 2002 had spiralled to 838bn yen ($7.3bn; £4.5bn) - nearly three times its original estimate - when calculated using stricter accounting rules.
		The Resona bailout has prompted renewed concerns about the financial health of Japan's banking sector, which is burdened with hundreds of billions of dollars of bad debts built up during the 1980s and 1990s.
		Attempts to put the banks on a firmer financial footing by writing off some of the loans against profits have encountered stiff political resistance, with some officials fearing that such a move could trigger a collapse of the banking system.
	news.bbc.co.uk /2/low/business/3039025.stm (473 words)

	Asia Security Monitor No. 29, May 29, 2003 (Site not responding. Last check: 2007-10-20)
		Resona had been inflating its profits by including deferred tax assets — created when a bank has losses, for example by writing off bad loans.
		The government’s bailout of Resona has generated fears that other Japanese banks may be inflating their reported profits to cover losses, reports the Associated Press.
		Private savings deposits at Resona have been guaranteed by the government, but the chief economist at J.P. Morgan in Tokyo comments, “It’s only a matter of time before the nation’s big four banks will face similar problems.” Many other banks also include deferred tax assets as a significant portion of their capital bases.
	www.afpc.org /asm/asm29.shtml (553 words)

	Resona Holdings, Inc. - Fact Sheet - Hoover's
		Resona Holdings is the holding company for Resona Bank and the much smaller regionals Kinki Osaka Bank and Nara Bank.
		Resona's 2002 absorption of the larger Asahi Bank elevated its status to that of Japanese megabank but the company, like its peers, has been battered by corporate loan defaults.
		After Resona forecasted a $7 billion loss for fiscal year 2003, it went begging to the Japanese government for a bailout, acknowledging it could not meet capital requirements.
	www.hoovers.com /resona/--ID__52501--/free-co-factsheet.xhtml (279 words)

	Bloomberg.com: Asia
		Resona slid 10 yen to 48, and had its biggest percentage drop since listing as a holding company in December 2001.
		Resona is asking for 2 trillion yen, the Nihon Keizai newspaper reported, more than seven times its market value.
		``Resona's failure is a reminder of the problems that the banks face with their ballooning bad debt,'' said Takeshi Yamaguchi, who helps handle the equivalent of $100 billion as a fund manager at Sumitomo Mitsui Asset Management Co.
	quote.bloomberg.com /apps/news?pid=10000080&sid=a7kubDrq4rts&refer=asia (983 words)

	Resona Holdings - Company Profile - Insurance Business Review (Site not responding. Last check: 2007-10-20)
		Resona Holdings is a financial services holding company for Resona Bank and other smaller regional banks such as Saitama Resona Bank, Kinki Osaka Bank, The Nara Bank and Resona Trust and Banking Company.
		Resona Holdings (formerly Daiwa Bank Group) is engaged in the management and supervision of banking and other subsidiaries as well as other related activities.
		Saitama Resona Bank was established as the financial institution responsible for taking over the 108 branches (excluding agencies) located in Saitama Prefecture and three offices in Tokyo of the former Asahi Bank.
	www.insurance-business-review.com /companyprofile.asp?guid=6608DABE-18E0-41FE-9AED-F81FF73BC2EB (765 words)

	[No title] (Site not responding. Last check: 2007-10-20)
		The Resona group is the fifth-largest bank group in Japan with total assets of JPY41.8 trillion as of the end of September 2002.
		Resona Holdings had JPY27.3 trillion in risk assets at the end of September 2002, the majority of which were held by Resona Bank.
		Resona's application for public funds was precipitated by its auditor's stricter assessment of the bank's deferred tax assets, resulting in its capital falling below the 4% regulatory minimum.
	www.insurance-portal.com /052003r.htm (2789 words)

	CNN.com - Resona tumbles on sale fears - Nov. 11, 2003
		National broadcaster NHK said Resona would include the idea of a government share sale in a business revitalization plan expected to be announced by the end of November.
		Resona has said it planned to build up resources from profits over the next 15 years to repay the government.
		Resona would make efforts to improve its earnings, thereby raising its share price and encouraging the government to cash in its investment, NHK said.
	www.cnn.com /2003/BUSINESS/11/11/japan.resona.reut (343 words)

	Forbes.com: UPDATE 3-Japan's Resona bank forecasts $16 bln first-half loss (Site not responding. Last check: 2007-10-20)
		As a result, Resona Holdings' capital adequacy ratio -- a key gauge of financial health -- is expected to be between 6.0 and 6.4 percent at the end of September, down from around 12 percent at the time of the public funds injection, the group said.
		Resona said it expected problem loans to rise to around 3.4 trillion yen at end-September from 2.9 trillion yen at end-March but estimates a sharp drop in nonperforming loans to around 1.95 trillion yen at the end of fiscal 2003/04 in March 2004.
		Resona said it would reduce the value of its deferred tax assets (DTAs), future tax refunds that can be counted as part of capital, limiting them to one year of projected refunds instead of three.
	www.forbes.com /newswire/2003/10/10/rtr1105522.html (865 words)

	CNN.com - Japan's mega-banks eye profits - May. 26, 2003
		Resona was forced to seek a government bailout earlier this month.
		Fifth-ranked Resona Holdings, which had to be rescued by the government earlier this month because of minimum capital problems, announced a group loss of 838 billion yen ($7.17 billion).
		According to Reuters, Resona's woes were magnified by what analysts saw as overly optimistic business forecasts and a high dependence on deferred tax assets (DTAs) -- expected tax credits on loan-loss provisions -- as capital.
	edition.cnn.com /2003/BUSINESS/05/26/japan.banklosses.biz (782 words)

	Japan, Inc.: Will Resona spark a buyout spree? - Upfront
		Despite its de facto nationalization of Resona, the Japanese government was determined to allow shares in the battered financial group to continue trading.
		Mizuho and UFJ, which, like Resona, are the result of recent defensive mergers, are the houses that most believe are in the firing line.
		As JP Morgan banks analyst Seiji Otsuka explained: "The Resona group's crisis has steadily worsened, coming as it does right in the midst of a financial system crisis, and indicates that the major banks are having difficulties improving their financial situation on their own."
	www.findarticles.com /p/articles/mi_m0NTN/is_45/ai_108722543 (755 words)

	TIME Asia Print Page: Going Bust -- May 26, 2003 / Vol. 161 No. 20 (Site not responding. Last check: 2007-10-20)
		Resona Holdings, Japan's fifth largest bank, declared it no longer had the capital to meet regulatory requirements and was asking the government for a massive $17.2 billion bailout—which could effectively lead to a nationalization of the bank.
		Resona's president Yasuhisa Katsuta also announced his resignation.
		Takenaka toned down his approach and last winter pushed through accounting reforms aimed at closing some of the banking industry's favorite loopholes for inflating their capital bases—which is why Resona had to ask for help.
	www.time.com /time/asia/magazine/printout/0,13675,501030526-452871,00.html (298 words)

	Rhispla crawled out of the tent, every part of her aching from yesterday’s ride
		Resona caught sight of the rabbit and nearly went cross-eyed with frustration.
		Resona had the same emerald eyes, but they were calculating and hard rather then peaceful and patient as Emphne’s were.
		Resona had the same red-gold hair as Cierco, but Cierco’s eyes were more of a bright green than either of the adults.
	www.geocities.com /manufacturedangel/stories/the703.htm (6133 words)

	Japan's Resona plans $890 million share issue to enhance capital (Site not responding. Last check: 2007-10-20)
		Resona Holdings, Japan's fifth-largest bank, plans to issue about 890 million dollars of shares to US and European investors to enhance its capital.
		Resona planned the issuance of 100 billion yen (890 million dollars) worth of preferred shares this year in the first such move since its nationalization in early 2003, the Nihon Keizai daily and Kyodo News agency said.
		Resona, which was bailed out by the government in June 2004, returned to the fl for the first time in five years in the 12 months to March after slashing bad loans and operating costs.
	www.turkishpress.com /news.asp?id=51862 (270 words)

	Forbes.com: Japan Hot Stocks-Resona, banks, Olympus, Softbank, Konami (Site not responding. Last check: 2007-10-20)
		Resona Holdings down 15.33 percent at 127 yen, the level of late September, on concernts about possible oversupply after a report that the Japanese government might sell its stake in the banking group to retrieve funds used to bail it out in June.
		National broadcaster NHK said Resona would include the idea of a government share sale in a business revitalisation plan expected to be announced by the end of November.
		Resona and other big banks were also undermined by a three percent fall in the Nikkei share average.
	www.forbes.com /personalfinance/retirement/newswire/2003/11/10/rtr1142757.html (716 words)

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