Mitsubishi UFJ Financial Group
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| Type | Public |
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| Traded as | NYSE: MTU TYO: 8306 |
| Industry | Financial Services |
| Predecessor(s) | Mitsubishi Tokyo Financial Group, Inc. UFJ Holdings, Inc. |
| Founded | October 1, 2005 (by merger) |
| Headquarters | Chiyoda-ku, Tokyo, Japan |
| Area served | Worldwide |
| Key people |
Ryosuke Tamakoshi (Chairman) |
| Services | Personal Banking Corporate Banking Investment Banking Investment Management Wealth Management Mortgage Credit Cards |
| Revenue |  US$ 52.877 billion (2010) |
| Profit |  US$ 6.807 billion (2010) |
| Total assets | US$ 2.488 trillion (2010) |
| Total equity | US$ 109.883 billion (2010) |
| Employees | 84,270 (2011) |
| Parent | Mitsubishi Group |
| Subsidiaries |
The Bank of Tokyo-Mitsubishi UFJ, Ltd. |
| Website | http://www.mufg.jp/english/ |
Mitsubishi UFJ Financial Group, Inc. (MUFG; 株式会社三菱UFJフィナンシャル・グループ Mitsubishi Yūefujei Finansharū Gurūpu) is a Japanese bank holding / financial services company headquartered in Chiyoda, Tokyo, Japan.[1]
It holds assets of around US$2.4 trillion (JPY 200 trillion) as of March 2010[2] and is one of the main companies of the Mitsubishi Group[3]. It is Japan's largest financial group and the world's second largest bank holding company holding around US$1.6 trillion (JPY 135 trillion) in deposits as of March 2010[4].
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[edit] Background
The company was effectively formed on January 1, 2006 with the merger of Tokyo-based Mitsubishi Financial Group (MFG), formerly Japan's second-largest banking group, and Osaka-based UFJ Holdings, which was Japan's fourth-largest banking group.
The core banking units of the group, Bank of Tokyo-Mitsubishi and UFJ Bank, were merged on January 1, 2006 to form The Bank of Tokyo-Mitsubishi UFJ, Ltd. This integration was originally scheduled to take place on October 1, 2005, the same day that the parent companies were merged. However, pressure from Japan's Financial Services Agency, which wanted to ensure the smooth systems integration of the two banking giants, caused the merger of the banks to be postponed for three months. The trust banking and securities units of MFG and UFJ were merged according to the original schedule on October 1, 2005.
[edit] History
The financial group dates back to 1880 as the Yokohama Special Bank later renamed to The Bank Of Tokyo, Ltd. Also in 1880, The Mitsubishi Bank, Ltd. was founded by former samurai Yataro Iwasaki. In 1919, the Mitsubishi Bank financed the Mitsubishi zaibatsu, most of which is today Mitsubishi Heavy Industries. In April 1996, The Mitsubishi Bank, Ltd. and The Bank of Tokyo, Ltd. merged.
In July 2004,UFJ Holdings offered to merge with MFG. The merger of the two bank holding companies was completed on October 1, 2005. UFJ was created from a merger with the Toyo Trust and Banking, Toyota's banking division. Toyota's chairman sat on the board of the UFJ, and it was one of the largest shareholders in Toyota. UFJ would later become one of Asia's most unsuccessful financial corpotations. UFJ was accused by the Japanese government of corruption and making bad loans to the Yakuza crime syndicates. The trust banking and securities units of the two groups were merged on the same day. The core banking units of MFG and UFJ, The Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank, respectively, continued to operate separately until January 1, 2006, when they were merged to form The Bank of Tokyo-Mitsubishi UFJ, Ltd.
In September 2008, MUFJ signed a letter of intent with Morgan Stanley to form an alliance and purchase 20% of the American firm.[5]
In 2008 at the 2008 ALB Japan Law Awards[6], Mitsubishi UFJ was crowned:
- In-House of the Year - Japan Investment Bank In-House Team of the Year
- Deal of the Year - Debt Market Deal of the Year
In April 2011, UFJ and Morgan Stanley entered into an agreement to convert UFJ's outstanding convertible preferred stock in Morgan Stanley into Morgan Stanley stock.[7]
[edit] Mitsubishi Financial Group, Inc.
Mitsubishi Financial Group, Inc. (MFG; 株式会社三菱東京フィナンシャル・グループ Mitsubishi Finansharu Gurūpu Kabushiki kaisha) was one of Japan's largest banks, ranked by assets (an estimated US$1 trillion), second only to Mizuho Holdings. On October 1, 2005, MFG completed the acquisition of UFJ Holdings, Japan's fourth largest banking group, to form the Mitsubishi UFJ Financial Group (MUFG), the world's largest bank ranked by assets with ¥190 trillion (approximately $1.7 trillion).
MFG was widely considered to be the strongest financially of Japan's large banks, with non-performing loans down to 2.9% of assets.
[edit] UFJ Holdings, Inc.
UFJ Holdings, Inc. (株式会社UFJホールディングス UFJ; Yūefujei Holdingsū Kabushiki kaisha) was the weakest among the four major banking groups in Japan. "UFJ" is an abbreviation of "United Financial- Japan", and was formed from a merger with the aforementioned Toyo Trust. The banking crisis led to its merger, after being one of the world's greatest losing corporations, on October 1, 2005, with the Mitsubishi Financial Group to form the Mitsubishi UFJ Financial Group.
Formed April 1, 2001, with the merger of Sanwa Bank, Tokai Bank, and Toyo Trust and Banking.
In July 2004, UFJ announced plans to merge with the Mitsubishi Tokyo Financial Group. The merger was completed on October 1, 2005, creating the Mitsubishi UFJ Financial Group, the world's second biggest bank by assets at $1.7 trillion, trailing behind Citigroup with $2.4 trillion in assets.
In June 2011, UFJ took a 99.9 percent stake in Lynas Corp, the Australian rare earths developer, after buying an additional 10%.[8]
[edit] Group Companies
(as of January 1, 2006)
- The Bank of Tokyo-Mitsubishi UFJ, Ltd.
- Mitsubishi UFJ NICOS Co., Ltd., a credit card issuer, formed through the merger of UFJ Card Co., Ltd., Nippon Shinpan Company Limited, UFJ Nicos Co., Ltd., DC Card Co., Ltd. and Kyodo Credit Service Co., Ltd.
- Mitsubishi UFJ Trust and Banking Corporation
- Mitsubishi UFJ Securities Co., Ltd.
- Mitsubishi UFJ Securities International plc, (UK)
- Mitsubishi UFJ Information Technology
- UnionBanCal Corporation, holding company of Union Bank of California
- The Senshu Bank, Ltd.
- UFJ Credit Co., Ltd.
- Toyo Hosho Services Co., Ltd.
- UFJ Strategic Partner Co., Ltd.
- UFJ Equity Investments Co., Ltd.
- UFJ Trust Equity Co., Ltd.
- NBL Co., Ltd.
- UFJ Business Finance Co., Ltd.
- Toyo Trust Total Finance Co., Ltd.
- MU Investment Co., Ltd.
- Mitsubishi UFJ Asset Management Co., Ltd.
- Mitsubishi UFJ Research and Consulting
- UFIT Co., Ltd.
- UFJ Capital Co., Ltd.
- UFJ Institute Ltd.
- UFJ Bank Canada, (Canada)
- UFJ Bank Nederland N.V., (Netherlands)
- Sanwa Capital Finance 1 Limited, (Cayman Islands)
- Sanwa Capital Finance 2 Limited, (Cayman Islands)
- UFJ Capital Finance 1 Limited, (Cayman Islands)
- UFJ Capital Finance 2 Limited, (Cayman Islands)
- UFJ Capital Finance 3 Limited, (Cayman Islands)
- UFJ Capital Finance 4 Limited, (Cayman Islands)
- UFJ Preferred Capital 1 Limited, (Cayman Islands)
- Tokai Preferred Capital Holdings Inc., (United States)
- Tokai Preferred Capital Company L.L.C., (United States)
- UFJ Finance Aruba A.E.C., (Aruba)
- Tokai Finance (Curaçao) N.V., (Netherlands Antilles)
- TTB Finance Cayman Limited, (Cayman Islands)
- UFJ Investments Asia Limited, (Cayman Islands)
[edit] Holdings
- The Chukyo Bank, Ltd. (39.9%)
- The Gifu Bank, Ltd. (21.3%)
- The Taisho Bank, Ltd. (25.9%)
- Central Leasing Co., Ltd. (14%)
- The Master Trust Bank of Japan, Ltd. (46.5%)
- Mobit Co., Ltd. (50%)
- M&T Information Technology Co., Ltd. (50%)
- Dah Sing Financial Holdings Limited (15.1%) (Macao)
- Morgan Stanley (22.4%) (USA)
- Chong Hing Bank (9.66%) (Hong Kong)
- Union Bank (100%) (USA)
[edit]
As of March 31, 2010[9]
| Japan Trustee Services Bank | 7.47 % |
| The Master Trust Bank of Japan | 4.44 % |
| Nippon Life Insurance Company | 2.01 % |
| ADR Holders (owned by the Bank of New York- Mellon) | 1.94 % |
| State Street Bank (for China and Hong Kong clients) | 2.80 % |
| Meiji Yasuda Life Insurance Company | 1.23 % |
| The Chase Manhattan Bank, N.A. | 1.14 % |
| Toyota | 1.05 % |
[edit] References
- ^ "About MUFG." Mitsubishi UFJ Financial Group. Retrieved on December 7, 2009.
- ^ http://www.mufg.jp/english/ir/annualreport/2010mufg-ar/pdffile/ar2010.pdf
- ^ About MUFG > Company Overview : Mitsubishi UFJ Financial Group
- ^ http://www.mufg.jp/english/ir/annualreport/2010mufg-ar/pdffile/ar2010.pdf
- ^ http://www.morganstanley.com/about/press/articles/6934.html
- ^ www.legalbusinessonline.com.au
- ^ "Mitsubishi UFJ Financial Group And Morgan Stanley Announce Agreement To Convert Morgan Stanley Convertible Preferred Stock To Common Stock - TheStreet". thestreet.com. 2011 [last update]. http://www.thestreet.com/story/11090166/1/mitsubishi-ufj-financial-group-and-morgan-stanley-announce-agreement-to-convert-morgan-stanley-convertible-preferred-stock-to-common-stock.html. Retrieved 19 July 2011.
- ^ "Mitsubishi UFJ buys 10% of Australia's Lynas - MarketWatch". marketwatch.com. 2011 [last update]. http://www.marketwatch.com/story/mitsubishi-ufj-buys-10-of-australias-lynas-2011-07-04. Retrieved 19 July 2011.
- ^ Annual Report 2010
[edit] External links
- Company website (in Japanese)
- Company website (in English)
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