BNY Mellon has been appointed by Chuo Mitsui Trust Holdings, Inc. (CMTH) and The Sumitomo Trust and Banking Company, Limited (STB) as the depositary bank for the American depositary receipt (ADR) program for their newly combined entity, Sumitomo Mitsui Trust Holdings, Inc. (SMTH).
CMTH and STB were integrated into SMTH on April 1.
SMTH’s sponsored ADR program succeeds STB’s existing sponsored ADR program, for which BNY Mellon was also the depositary bank. Every SMTH ADR represents one ordinary share and trades on the OTC market under the symbol SUTNY. SMTH’s ordinary shares trade on the Tokyo Stock Exchange under the new combined code 8309.
“Both Chuo Mitsui Trust and Sumitomo Trust and Banking were highly respected in Japan and around the world, says Michael Cole-Fontayn, CEO of BNY Mellon’s Depositary Receipts business. Their decision to combine their ADR programs and continue to make the new program available to U.S. investors shows their commitment to their combined global shareholder base.
Sumitomo Mitsui Trust Holdings, Inc. is a holding company established jointly by Chuo Mitsui Trust Holdings and Sumitomo Trust and Banking. As a financial group the bank provides trust, banking, real estate, asset management and related financial services.
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs.