First Hawaiian Bank has signed an agreement with one of Japan's largest trust banks, Mitsubishi UFJ Trust and Banking Corp., to provide corporate trustee and successor trustee service for the living trusts of Japanese citizens.

The formation of a living trust is a new concept recently introduced to Japan and will assist Japanese citizens owning assets in the U.S. to avoid the lengthy U.S. probate process, First Hawaiian said in a news release.

Mitsubishi UFJ Trust and Banking Corporation is the first Japanese Bank to assist their Japanese customers in managing and planning for the succession of their U.S. assets.

First Hawaiian Bank said it was selected as one of three U.S. banks because of its extensive experience in Trust services.

This follows an earlier agreement signed in May 2008 between Mitsubishi UFJ Trust and Banking Corporation and First Hawaiian Bank, allowing First Hawaiian to provide estate settlement services for Japanese citizens.

First Hawaiian has a long history of serving Japanese customers with a wide range of both individual and business services including checking and savings, investments and estate settlement.