HONOLULU, HI – April 23, 2019 – Central Pacific Bank (CPB) for the first time convened each of the leaders of the TSUBASA Alliance of Japan, in Honolulu. The TSUBASA Alliance is comprised of the country’s regional banks that range in size from $60 billion to $126 billion, and includes Chiba Bank, Chugoku Bank, Daishi/Hokuetsu Financial Holdings, North Pacific Bank, Iyo Bank, and Toho Bank.

The inaugural meeting is in follow-up to the Memorandums of Understanding which CPB entered into with each bank in 2017-2018. Inclusion of IBM Japan and participation by Mayor Kirk Caldwell, Governor David Ige, and other Hawaiʻi business leaders underscored the bilateral pursuits of TSUBASA and CPB, in exploring advanced IT technologies, including Fintech that would importantly bridge both markets.

“At the cross-roads of the Asia-Pacific region, Hawaiʻi is uniquely suited geographically and culturally to be a hub of global idea exchange and relationship building. Partnerships such as ours will result in attracting even greater Japanese interest in Hawaiʻi. This means, we believe, more Japanese businesses and individuals looking to expand and invest in Hawaiʻi,” said Paul Yonamine, Chairman and CEO of Central Pacific Financial Corp. and Executive Chairman of Central Pacific Bank.

About TSUBASA Alliance of Japan
The TSUBASA Alliance is comprised of regional banks in Japan with total assets in U.S. Dollars as follows: The Chiba Bank, Ltd., $126 billion, based in Chiba; Daishi/Hokuetsu Financial Holdings., $82 billion, based in Niigata; The Chugoku Bank, Ltd., $80 billion, based in Okayama; The Iyo Bank, Ltd., $71 billion, based in Ehime; The Toho Bank, Ltd., $60 billion, based in Fukushima; and The North Pacific Bank, $95 billion, based in Hokkaido.