J Trust Co. Ltd. (J Trust), a holding company with the global scope of operations are located in Toranomon First Garden, 1-7-12 Toranomon, Minato-ku, Tokyo 105-0001. The company was selected as the winner among 11 applicants in the divestment of Bank Mutiara (the Company) which previously under the control of the Indonesia Deposit Insurance Corporation (LPS). Conditional Purchase Agreement between LPS and J Trust which has been signed and effective after the Extraordinary General Meeting (EGM) of the Company dated November 20, 2014, allowing J Trust to own the majority of shares of the Company to be exempted from regulatory 40% restrictions of Foreign shareholder in commercial banks in Indonesia. The EGM make J Trust as owner of 99% shares of the Company after LPS received a letter of approval of the Indonesia Financial Services Authority (OJK) received on November 10, 2014.
As a majority shareholder, J Trust sends its best representatives to improve and restructure the Company. After various internal restructuring and consolidation of the various companies under the auspices of J Trust, the Company changed its name to PT BANK JTRUST INDONESIA Tbk. through the EGM on 30 March 2015. After the approval of the Ministry of Justice and Human Rights on 7 April 2015, and the approval of the OJK dated May 21, 2015, PT BANK JTRUST INDONESIA Tbk. (J Trust Bank) was officially announced to the public on May 29, 2015. The announcement is the initial presence of J Trust banks to provide Japanese level of quality services to the people in Indonesia and Southeast Asia.