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• W77117288 abstract "When Japan's Sanwa Bank Ltd. opened a subsidiary in California in 1972, it had absolutely no intention of becoming one of the state's leading retail banks. The reason we came was to serve Japanese customers doing business between Japan and the United States, recalls Masahiro Mark Yoda, president and CEO. Our customers at the time were mostly Japanese trading companies. However, the march of time led the Los Angeles-based bank down a different route. After almost 20 years, Yoda, 99% of our customers are American; only 1% are Japanese. never dreamed of that kind of change. Today, with $6.9 billion in assets, Sanwa Bank California is the seventh-largest bank in California. Its success reflects a deft blending of Japanese and American corporate cultures, coupled with changing Japanese attitudes to banking, which have been both witnessed and encouraged by Yoda. Contemporary Americana. Those who view Japanese bankers as a dreaded foe may think otherwise after meeting Yoda, 52, a personable and articulate gentleman. While his bank is a subsidiary of a major Japanese institution-Sanwa Bank Ltd., with over $350 billion in assets, is the world's sixth-largest bank-Yoda is quick to point out that it should not be pigeonholed into being defined as a Japanese bank. We are just like other American banks, he explains. We serve American people and communities. now have 105 branches and 3,400 employees. Out of 3,400, only 40 are Japanese. Yoda adds that non-Japanese directors make up an eight-to-six majority on the bank's board. The American nature of the bank's operations affects Yoda, too. would express maybe 6% of what I have to say in Japanese, he calculates. Sanwa Bank California is the only foreign-based Sanwa subsidiary that has become a part of an overseas retail market; the parent company's other subsidiaries are strictly involved in the side of banking. We're doing business in this country with everybody, says Yoda, especially Americans. Sanwa has become very much involved in the domestic market-for example, it lists roughly $370 million in agricultural loans, over $405 million in consumer loans, and $305 million in real estate loans. The bank has been noted for its philanthropic donations to American concerns, particularly its $600,000 contribution to earthquake relief agencies following last year's devastating San Francisco earthquake (the donation was made in partnership with the parent company) and its corporate sponsorship of Yosemite National Park and Marine World Africa USA. The bank has also played a role within the growing community development lending market through its participation in the California Community Reinvestment Corp., a mortgage banking consortium of California banks dedicated to financing affordable housing. Yoda notes this participation comes from Sanwa's cultural roots, where community reinvestment is an unwritten law. he explains, commercial banks are historically kind of quasi-public companies-people always expect big Japanese banks to behave like public institutions. There is no law to require them to behave this way or that, but Japanese banks are always very conscious of public opinion, so we are very much accustomed to behaving this way. Cultural questions. One major cultural difference that separates American banks from their Japanese counterparts is the ability of U. S. institutions to operate both and trust banking units as part of the same company. In Japan, the government decided in 1953 that trust and banking must be kept separate. Because of this situation, Sanwa Bank California has an advantage over its parent company-it has its own trust and financial services division. The parent must settle for a trust subsidiary based in New York, the Sanwa Bank Trust Co., a three-person, $2 million-assets operation. …" @default.
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• W77117288 date "1990-09-01" @default.
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• W77117288 title "Witness to a Changing World" @default.
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