The Master Trust Bank of Japan

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The Master Trust Bank of Japan, Ltd. (日本マスタートラスト信託銀行株式会社, Nippon Masutā Torasuto Shintaku Ginkō Kabushiki-gaisha^?) is a trust bank in Japan.

[edit] Shareholders

As of October 2005:

Mitsubishi UFJ Trust and Banking Corporation 56.5%
Nippon Life Insurance Company 33.5%
Meiji Yasuda Life Insurance Company 10.0%

Master Trust Bank of Japan is a specialized master trust asset management bank with the managed assets reaching 125 trillion yen as of the end of June 2005. It has been generating net profit since fiscal year through March 31, 2003. It invests its assets in deposits with Bank of Japan and short-term government bonds primarily, limiting credit risk, market risk and liquidity risk of them. There is no problem with level of capital. The Company's shareholders, which capitalized it, are expected to extend support to it if need arises. Stake of Mitsubishi UFJ Trust and Banking, which was created through merger of Mitsubishi Trust and UFJ Trust as of October 1, 2005, in the Company exceeded more than half of the outstanding shares. Each of them took a 29% stake in the Company originally. Deutsche Bank sold its stake entirely to other shareholders. However, primary shareholders jointly provide main operating base and the management to the Company continually. Nippon Life's stake has also increased to more than 3rd of the outstanding shares from the previous 29% shares. Given the above, JCR considers that there will be no significant changes in the Company's relationships with these capital contributors