If at that time, Mitsubishi UFJ had overwhelming power, there might have been a possibility of merging with Fuji Bank or Nippon Kogyo Bank. However, in reality, the Mizuho Holdings Concept was established early on, and the voluntary integration of the three banks was progressing.
Following the bubble collapse and the handling of bad debts, the following three mega banks were born:
| Mega Bank | Constituent Banks |
|---|---|
| Mizuho FG | Dai-Ichi Kangyo Bank, Fuji Bank, Nippon Kogyo Bank |
| Mitsubishi UFJ FG | Mitsubishi Bank, Tokyo Bank, UFJ Bank (Former Sanwa + Tokai) |
| Mitsui Sumitomo FG | Sumitomo Bank, Sakura Bank (Former Mitsui Bank) |
UFJ Bank faced problems with bad debts and internal control, and was absorbed by Mitsubishi Tokyo Financial Group in 2006. They did not have the capacity to acquire other banks.
Fuji Bank and Nippon Kogyo Bank had already decided on integration into the Mizuho Group from the planning stage, leaving no room for other banks to intervene. As a result, Mizuho became the largest force at the initial stage.
| Rank | Bank Name | Total Assets | Characteristics |
|---|---|---|---|
| 1st | Mitsubishi UFJ Bank | Approximately 370 trillion yen | International expansion, stability, world-class credit |
| 2nd | Mitsui Sumitomo Bank | Approximately 260 trillion yen | High profitability, corporate sales strength |
| 3rd | Mizuho Bank | Approximately 210 trillion yen | In the process of restructuring and rebuilding systems |
By merging the three banks, it became the largest balanced financial group in Japan.
Mizuho was the first to integrate, which led to failures in system and organizational integration becoming a hindrance later on. Other banks chose gradual mergers after observing this.