%PDF-1.2 %âãÏÓ 10 0 obj << /Length 11 0 R >> stream BT294.75 52.5 TD0 0 0 rg /F0 9.75 Tf-0.171 Tc 0 Tw (1) Tj152.25 679.5 TD /F0 10.5 Tf-0.3615 Tc 0.4425 Tw (May ) Tj22.5 0 TD 0.162 Tc 0 Tw (17) Tj11.25 0 TD -0.0042 Tc 0.8352 Tw (, 2003) Tj-72.75 -15 TD -0.0854 Tc 0.5414 Tw (Resona Holdings, Inc.) Tj-246 -30 TD /F1 10.5 Tf0.0693 Tc -0.2883 Tw (Regarding Management of Resona Holdings Hereafter) TjET162 685.5 270 0.75 re fBT84.75 642.75 TD/F0 9.75 Tf0.0571 Tc 0.9247 Tw (In the fiscal year ended March 2003, Resona Group has completed the planned reorganization) Tj0 -15 TD 0.0882 Tc 0.2013 Tw (among its banking subsidiaries to set up Resona Bank and Saitama Resona Bank. Group banks) TjT* 0.0721 Tc 1.771 Tw (have also worked on restoration of their financial soundness by taking such measures as 1\)) TjT* 0.0776 Tc 0.2119 Tw (accelerating removal of non-performing claims from their balance sheets, 2\) drastically disposing) TjT* 0.0735 Tc 0.7517 Tw (of latent losses on equity securities, 3\) reversing significant amount of deferred tax assets, and) TjT* 0.0631 Tc 2.1302 Tw (other proactive measures. In addition, Resona Holdings disposed of the latent losses on its) TjT* 0.0897 Tc 0.1998 Tw (investments in banking subsidiaries accompanying the erosion of their net assets.) Tj0 -29.25 TD 0.0601 Tc 1.8448 Tw (As a result of taking these proactive measures, Resona Holdings could not secure sufficient) Tj0 -15 TD 0.0712 Tc 1.026 Tw (distributable profits to pay dividends on its preferred stocks including the stocks subscribed by) TjT* 0.074 Tc 0.7347 Tw (the government and the dividends for preferred securities issued by its finance subsidiaries are) TjT* 0.0482 Tc 0.3095 Tw (also suspended. In addition, capital adequacy ratio is supposed to decline noticeably.) Tj0 -30 TD 0.0886 Tc 0.2009 Tw (Reflecting these developments, Resona Group has decided to renew its management, raising its) Tj0 -15 TD 0.0811 Tc 0.4968 Tw (capital adequacy as early as possible, and strengthen its earnings by drastically rationalizing its) Tj0 -14.25 TD 0.0408 Tc 1.3201 Tw (operations. Resona Group will step up its efforts towards creating a financial group that offers) Tj0 -15 TD 0.0662 Tc 0.4108 Tw (true value to its customers.) Tj0 -45 TD /F0 10.5 Tf-0.6285 Tc 0 Tw (1.) Tj8.25 0 TD 0 Tc 0.081 Tw ( ) Tj9.75 0 TD -0.178 Tc 0.259 Tw (Renewal of ) Tj55.5 0 TD -0.1278 Tc 0 Tw (Management) Tj-73.5 -30 TD /F0 9.75 Tf0.072 Tc 2.0636 Tw (Accepting the responsibility for the results of fiscal year 2002, following directors of Resona) Tj0 -14.25 TD 0.0708 Tc 0.2187 Tw (Group will resign. Retirement allowances will not be paid to these retiring directors.) Tj0 -15 TD 0 Tc 2.5395 Tw ( ) Tj15.75 -13.5 TD -0.0471 Tc 0.3366 Tw (Takashi Kaiho) Tj94.5 0 TD 0.014 Tc 0.5255 Tw (Chairman of Resona Holdings) Tj-94.5 -11.25 TD 0.0724 Tc 0.2171 Tw (Yasuhisa Katsuta) Tj94.5 0 TD 0.0409 Tc 0.4361 Tw (President of Resona Holdings, and) Tj0 -11.25 TD -0.0064 Tc 0.5459 Tw (President of Resona Bank) Tj-94.5 -12 TD 0.0957 Tc 0.1938 Tw (Yukio Yanase) Tj94.5 0 TD 0.0652 Tc 0.2243 Tw (Deputy President of Resona Holdings) Tj-94.5 -11.25 TD -0.2176 Tc -0.2429 Tw (Tetsuo ) Tj31.5 0 TD 0.2215 Tc 0 Tw (Morishige) Tj63 0 TD 0.0455 Tc 0.244 Tw (Deputy President of Resona Bank) Tj-94.5 -11.25 TD 0.1376 Tc 0.1519 Tw (Akihiko Umeda) Tj94.5 0 TD 0.0455 Tc 0.244 Tw (Deputy President of Resona Bank) Tj-110.25 -28.5 TD 0.0757 Tc 0.5888 Tw (As successors, Kenji Kawada \(current director and senior executive officer of Resona Holdings\)) Tj0 -15 TD -0.171 Tc -0.2895 Tw (and ) Tj21 0 TD 0.0738 Tc 2.8066 Tw (Yoshikatsu Nakashima \(current director and executive officer of Resona Bank\) will be) Tj-21 -15 TD 0.0602 Tc 3.7543 Tw (appointed as President and Deputy President of Resona Holdings, respectively. Masaaki) Tj0 -15 TD 0.0399 Tc 0.6246 Tw (Nomura \(current executive officer of Resona Holdings\) and Hiroyuki Mizuta \(current director and) TjT* 0.0723 Tc 2.6402 Tw (executive officer of Resona Bank\) will be appointed as President and Deputy President of) Tj0 -14.25 TD 0.0225 Tc 0.267 Tw (Resona Bank, respectively.) Tj0 -30 TD /F0 10.5 Tf-0.036 Tc 1.617 Tw (From a viewpoint of accelerating innovation of management, Resona Holdings intends to) TjETendstream endobj 11 0 obj 4400 endobj 4 0 obj << /Type /Page /Parent 5 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R >> /ProcSet 2 0 R >> /Contents 10 0 R >> endobj 15 0 obj << /Length 16 0 R >> stream BT294.75 52.5 TD0 0 0 rg /F0 9.75 Tf-0.171 Tc 0 Tw (2) Tj-210 679.5 TD /F0 10.5 Tf-0.0991 Tc 2.3229 Tw (invite as Chairman, from outside the group, a person who has displayed great ability to) Tj0 -15 TD -0.0384 Tc 0.1194 Tw (manage private companies.) TjT* /F2 10.5 Tf0 Tc 2.331 Tw ( ) TjT* /F0 9.75 Tf0.0811 Tc 1.3675 Tw (New management body including appointments and resignations of directors other than those) TjT* 0.0587 Tc 0.3558 Tw (mentioned above will be announced hereafter. Basic direction of the management renewal would) TjT* 0.0589 Tc 0.0431 Tw (be to achieve noticeable ) Tj110.25 0 TD 0.0743 Tc 0 Tw (rejuvenation) Tj54 0 TD -0.0043 Tc 0.4604 Tw (. The number of directors will also be reduced further.) Tj-164.25 -29.25 TD /F0 10.5 Tf-0.6285 Tc 0 Tw (2.) Tj8.25 0 TD 0 Tc 0.081 Tw ( ) Tj9.75 0 TD -0.1015 Tc 0.5575 Tw (Innovation of Management) Tj-18 -30 TD /F0 9.75 Tf0.0945 Tc 0.82 Tw (Resona Group innovates its management by implementing the measures outlined below with a) Tj0 -15 TD 0.0439 Tc 0.3706 Tw (view to creating a financial group that offers true value to its customers.) Tj0 -30 TD -0.2215 Tc 0 Tw (\(1\)) Tj11.25 0 TD 0 Tc 0.2895 Tw ( ) Tj5.25 0 TD 0.0778 Tc 0.295 Tw (Restoration of financial soundness \(Strengthening of capital with public funds\)) Tj-0.75 -14.25 TD 0.0982 Tc 0.1912 Tw (Resona Holdings and Resona Bank received today the Business Reform Orders \(so called) Tj0 -15 TD 0.0731 Tc 0.2164 Tw ("Prompt Corrective Action"\), respectively, from the Financial Services Agency \(FSA\) based) TjT* 0.0651 Tc 0.2244 Tw (on the Article 52-33-1 and the Article 26-1 of the Banking Law of Japan since their capital) TjT* 0.08 Tc 0.2095 Tw (adequacy ratios are estimated to be below 4%.) Tj0 -30 TD 0.0711 Tc 0.2184 Tw (Resona Group will formulate its Business Reform Plan including a specific plan for capital) Tj0 -15 TD 0.0482 Tc 0.3038 Tw (increase and submit it to FSA. Although details are determined hereafter, basically, Resona) TjT* 0.0557 Tc 0.2779 Tw (Bank will apply for an injection of public funds to strengthen its capital, on the condition that it) Tj0 -14.25 TD 0.0741 Tc 0.2154 Tw (will be recognized as a qualified institution under the Article 102-1 of the Deposit Insurance) Tj0 -15 TD -0.1848 Tc 1.2243 Tw (Law of Japan.) Tj0 -30 TD 0.0479 Tc 0.3416 Tw (With the injection of public funds, Resona Group will restore its capital adequacy as early as) Tj0 -15 TD 0.0947 Tc 0.1948 Tw (possible and implement sweeping measures to improve its financial soundness.) Tj-15.75 -30 TD 0.0587 Tc 0.2308 Tw (\(2\) Strengthening of Earnings) Tj15.75 -14.25 TD 0.0621 Tc 1.3812 Tw (Resona Group intends to announce its earnings plan hereafter. It will drastically review its) Tj0 -15 TD 0.0788 Tc 3.294 Tw (cost structure by implementing rationalization measures outlined below. Through these) TjT* 0.06 Tc 1.4081 Tw (efforts, it will aim at establishing a strong earnings base which can generate stable profits) TjT* 0.1009 Tc 0.1886 Tw (even under adverse operational environments.) Tj-5.25 -30 TD -0.2089 Tc 0 Tw (a\)) Tj8.25 0 TD 0 Tc 0.2895 Tw ( ) Tj4.5 0 TD 0.0441 Tc 0.2454 Tw (Reduction of salaries for employees) Tj-1.5 -15 TD 0.0516 Tc 0.9879 Tw (Reflecting the severe results of fiscal 2002, Resona Group will review its employee salary) Tj0 -15 TD 0.0806 Tc 1.9817 Tw (system, and reduce their bonuses. Through the implementation of these measures, the) Tj0 -14.25 TD 0.0745 Tc 0.2619 Tw (level of employee salary and bonus is supposed to be reduced by 30% on average from the) Tj0 -15 TD -0.017 Tc 0.3065 Tw (second half of the current fiscal year.) Tj-0.75 -30 TD 0.075 Tc 1.777 Tw (A new retirement allowance and pension system, which includes a reduction of pension) Tj0 -15 TD 0.0594 Tc 1.1532 Tw (payment, was just introduced in March this year. However, considerations will be given to) TjT* 0.0117 Tc 0.4921 Tw (putting such retirement benefit system under further review.) Tj0 -29.25 TD 0.0617 Tc 0.2278 Tw (Furthermore, the number of employees will also be reduced.) TjETendstream endobj 16 0 obj 4226 endobj 12 0 obj << /Type /Page /Parent 5 0 R /Resources << /Font << /F0 6 0 R /F2 13 0 R >> /ProcSet 2 0 R >> /Contents 15 0 R >> endobj 18 0 obj << /Length 19 0 R >> stream BT294.75 52.5 TD0 0 0 rg /F0 9.75 Tf-0.171 Tc 0 Tw (3) Tj-199.5 664.5 TD -0.2089 Tc (b\)) Tj8.25 0 TD 0 Tc 0.2895 Tw ( ) Tj4.5 0 TD 0.0632 Tc 0.2263 Tw (Significant reduction of affiliated companies) Tj-2.25 -15 TD 0.0667 Tc 3.2228 Tw (The number of affiliated companies within the group at present is approximately 50.) Tj0 -15 TD 0.0721 Tc 1.5299 Tw (Through integration and reorganization, the number will be almost halved within a target) TjT* 0.0586 Tc 3.3463 Tw (period of one year. Directors of these affiliated companies will also be reduced and) TjT* 0.0288 Tc 0 Tw (rejuvenated.) Tj0 -29.25 TD 0.0907 Tc 0.1988 Tw (Group banks and affiliated companies will abolish corporate adviser system, too) Tj353.25 0 TD /F0 10.5 Tf0.081 Tc 0 Tw (.) Tj-374.25 -45 TD -0.073 Tc 0.304 Tw (\(3\) Priority on satisfaction of customers) Tj10.5 -15 TD /F0 9.75 Tf0.0562 Tc 2.0795 Tw (As a "federation of regional financial institutions" that differentiate itself from the so called) Tj0 -15 TD 0.0764 Tc 2.7515 Tw (mega bank groups, Resona Group will clarify its priority on satisfaction of customers in) Tj0 -14.25 TD 0.0821 Tc 0.2074 Tw (regional communities.) Tj-10.5 -30 TD 0.062 Tc 1.4391 Tw (We do apologize for the inconveniences caused and concerns arising from the suspension of) Tj0 -15 TD 0.0541 Tc 0.3854 Tw (dividends, decline of our capital ) Tj142.5 0 TD 0.153 Tc 0 Tw (adequacy) Tj43.5 0 TD 0.0866 Tc 0.4172 Tw ( ratio, and other related developments. We appreciate) Tj-186 -15 TD 0.0679 Tc 0.5966 Tw (your understandings and supports towards us as we endeavor to improve the soundness of our) Tj0 -15 TD 0.0619 Tc 0.2276 Tw (operations, and continue to serve our customers in each region.) 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