BNY Mellon Appointed as Sponsored Depositary Bank by Toppan PrintingPR Newswire
NEW YORK, July 17, 2012 /PRNewswire/ --BNY Mellon, the global leader in investment management and investment services, has been appointed as sponsored depositary bank by Toppan Printing Co., Ltd. for the company's American depositary receipt (ADR) program. Previously, Toppan Printing traded as an unsponsored ADR program serviced by multiple depositaries. Each Toppan Printing ADR represents one ordinary share and trades on the U.S. over-the-counter market under the symbol "TOPPY." Toppan Printing's ordinary shares trade on the Tokyo Stock Exchange under the code "7911."
Toppan Printing Co., Ltd. was founded in 1900. Today, in addition to its printing business, the company has diversified into various high quality products and services in a broad range of fields, including information and networks, living environment, and electronics.
"With the growing U.S. investor interest in our company, we believe the establishment of our sponsored ADR program is well timed," said Shingo Kaneko, president and representative director for Toppan Printing. "We realized during the depositary selection process that BNY Mellon's expertise will serve us well in diversifying our U.S. shareholder base and increasing the visibility of our DR program."
"Toppan Printing is the fifth Japanese company to convert from an unsponsored to sponsored DR program in less than three years, a move which can help raise visibility," said Michael Cole-Fontayn, CEO of BNY Mellon's Depositary Receipts business. "Our experts look forward to delivering a comprehensive suite of services to Toppan Printing to help the firm maximize the benefits of its sponsored DR program."
BNY Mellon acts as depositary for more than 2,500 American and global depositary receipt programs, acting in partnership with leading companies from 65 countries. BNY Mellon is committed to helping securities issuers access the world's rapidly evolving financial markets and delivers a comprehensive suite of depositary receipt services. Learn more at www.bnymellon.com/dr.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.6 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com or follow us on Twitter@BNYMellon.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.
SOURCE BNY Mellon