Sumitomo Trust and Banking Co., Ltd. (The)
Sumitomo Trust and Banking Co., Ltd. (The) (TSE: 8403/OTC: STBUY) The Group's principal activity is the provider of comprehensive financial services through a network of 53 domestic branches, 14 sub-branches, 37 trust agencies, four overseas branches, five overseas representative offices, together with 20 consolidated subsidiaries and four affiliate companies. Operations include marketing of savings and investment products to individuals, corporate lending and financial services, cross-selling of trust services, venture capital business, investment in private equity funds, asset liability management, development of financial products, trading, asset management services, trust and custody services, stock transfer agency services, real estate brokerage and consultation, management, appraisal, securitization and land trust services. Operations are carried out through the following sectors: Trust and Banking accounted for 82% of fiscal 2002 revenues and Other Financial Services, 18%.
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Asian markets mostly dropped on Wednesday. Resources shares across the region were hit by falling metals prices. Japan's Nikkei 225 fell 1.5 per cent, South Korea's Kospi shed 1.0 per cent and Hong Kong's Hang Seng Index lost 0.8 per cent. The markets also weighed down by U.S. consumer confidence and German business sentiment. But China's Shanghai Composite rebounded 1.3 per cent as monetary tightening worries eased.
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