In June 2005, Aozora Asia Pacific Finance Limited (“AAPF”) was founded in Hong Kong as a money lender, a wholly-owned subsidiary of Aozora Bank.
Aozora Bank, AAPF’s parent company, formerly known as The Nippon Fudosan Bank, Ltd., was established in Tokyo, Japan in April 1957. The Bank changed its name to The Nippon Credit Bank, Ltd. (“NCB”) in October 1977, and to Aozora Bank, Ltd., the current name, in January 2001 which carries on banking business in Japan.
With respect to Aozora Group’s business activities in Hong Kong, Nippon Credit International (Hong Kong) Ltd, a subsidiary of NCB, started business operations in February 1978 which focused on securities business, and it was NCB’s third operating office in overseas, after London Branch and New York Branch.
In addition to the securities business, NCB opened its Hong Kong Branch as the operating office for its banking business in April 1986. However, after the commencement of special public management of NCB (in December 1998) in Japan, NCB ceased its operations in Hong Kong.
In June 2005, AAPF was established to operate the money lending business. It is the first overseas subsidiary of the Group after changed the name to Aozora Bank, Ltd. in 2001 which represented the Aozora Group restarted its business operations in Hong Kong. Currently, Aozora Group does not carry on business in any regulated activities in Hong Kong.
In order to promote the Group’s business in the Asia-Pacific region, AAPF will continue to work collaboratively with Aozora Bank Head Office in Tokyo and its representative offices in Shanghai and Singapore.