Japan’s Regional Bank M&A Wave to Create $74 Billion Lender

Two regional banks in central Japan are planning to integrate their operations, as a long-anticipated industry consolidation picks up pace.

The deal between Aichi Financial Group Inc. and San ju San Financial Group Inc. will create a regional banking group with total assets worth more than ¥11.6 trillion ($74 billion), according to data from the two lenders in a statement Wednesday. They said further details will be disclosed as soon as arrangements are made.