billion within four years. The success of the IPO intensified criticism of Shinsei, however: the government was estimated to have lost ¥4-5 trillion on the deal between lost investments and forced purchases of bad debt, and the profits from the deal even escaped Japanese taxation through the use of a foreign investment partnership. In April 2004, the bank exchanged its long-term credit banking license for a standard commercial banking license. The Financial Services Agency issued an improvement order to Shinsei on June 29, 2007 after the revenues of the company fell dramatically below targets. On April 25, 2009, it was announced that Shinsei Bank and Aozora Bank have entered into negotiations to integrate their operations in the summer of 2010, with an eye toward an eventual merger, however the talks collapsed in May 2010 amid disputes over capitalization and business strategy, as well as the abatement of the 2008 financial crisis. In 2010, the bank sold its headquarters building near Hibiya Park and its operations center in Meguro in order to avoid falling below targets again due to investment writedowns during the subprime crisis in the United States. Shinsei moved its headquarters to the Nihombashi area of Chuo City in January 2011. Services Shinsei Bank divides its business into three components: retail banking, institutional banking and consumer/commercial finance. Retail banking Shinsei offers a number of unique services as part of its basic "PowerFlex" savings account, including: "Cash back" for any ATM fees incurred when making withdrawals overseas. Banking office hours until 7 PM in many locations (most Japanese banks close much earlier, often as early as 3 PM). Foreign currency deposits as part of the standard account package (unique to Shinsei and Tokyo Star Bank and Jibun Bank). Instant cash card issuance for customers opening new accounts in person with photo ID. The Shinsei banking system is based on the FLEXCUBE software developed by Oracle Financial Services Software Ltd. Formerly i-flex solutions. Shinsei also gears many of its services toward resident foreigners in Japan, with English-language online banking and telephone support, as well as no requirement for a personal seal in order to open an account. Institutional banking Shinsei combines its commercial and investment banking operations into an "Institutional Banking" division which engages in a broad range of commercial lending and equity investment. The IB division is affiliated with four subsidiary companies: Shinsei Investment Management, Shinsei Securities, Shinsei Servicer and