 |
| March 27, 2000 |
|
| Full-scale
Alliance and Scheduled Merger of The Sumitomo M&F and Mitsui M&F |
 Pre-merger
Targets and Alliances
1.Pre-merger targets
The two companies will draft individual numerical targets linked
to the Basic Integration Plan, and will each resolve to achieve
these targets. On the financial front, each company will be responsible
for full amortization of all outstanding benefit obligations of
employees' retirement and pension plan and all outstanding software
development costs before the merger.
2.Pre-merger full-scale alliances
The two companies will effect a tie-up in the following areas as
soon as possible but in the respective months stated below, establish
a real consolidated structure, and derive the effects of synergy
in advance of the merger; provided, however, that any act and thing
to implement any item listed below shall be preformed only to the
extent that the compliance with any and all applicable laws has
been ensured, in particular the requirements under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976 and other U.S. antitrust laws
and regulations to be fully complied with. The proposed time schedule
stated opposite each of the items below excludes combination activities
that in any way involve, or can have an effect on, the United States
insurance business of the companies.
|
| (1) |
For better customer service
 Joint
R&D of new products |
April 2000 |
 Mutual
use of claims network |
April 2000 |
 Joint
operation of call center |
April 2001 |
|
|
| (2) |
Consolidation of subsidiaries and affiliated companies
Starting in April 2001
| (Asset management, personnel transfers, nursing- care services
are scheduled) |
|
|
| (3) |
Consolidation of infrastructure
|
Joint development of systems |
April 2000 |
|
Consolidation of agency network system |
April 2001 |
|
Joint use of offices and other property |
October 2000 |
Standardization of office procedures |
April 2001 |
|
|
| (4) |
Exchange of personnel and know-how
|
Exchange and joint training of personnel |
June 2000 |
|
|
Joint production of intracompany satellite broadcasts and
simultaneous telecasts |
April 2000 |
|
Mutual connection of an intranet |
April 2001 |
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