Mitsubishi UFJ Financial

One of the world's leading financial groups provides corporate, investment, commercial, and consumer banking

Categories

Financial and Banking  

#156

Rank

$93.26B

MarketCap JP

JP Japan

Country

Summary

Mitsubishi UFJ Financial Group (MUFG) is a global financial services firm based in Japan. It is one of the largest banks in the world, providing services to over 25 million customers in more than 50 countries. MUFG's core businesses include retail banking, corporate and investment banking, trust banking, securities, asset management, and insurance. MUFG has a presence in the Americas, Asia, Europe, the Middle East, and Oceania. The firm has over 220,000 employees worldwide, and its headquarters are in Tokyo. MUFG is also a major shareholder in the Bank of Tokyo-Mitsubishi UFJ and Mitsubishi Corporation. It operates through Digital Service Business Group; Retail & Commercial Banking Business Group; Japanese Corporate & Investment Banking Business Group; Asset Management & Investor Services Business Group; Global Corporate & Investment Banking Business Group; Global Commercial Banking Business Group; and Global Markets Business Group segments. 

The company offers commercial banking, trust banking, and securities products and services to retail, and small and medium-sized enterprise customers. It also provides M&As and real estate-related services; digital-based financial services; credit cards; and trust banking and securities products and services, as well as engages in the lending, fund settlement, and foreign exchange businesses. 

In addition, it offers corporate, investment, and transaction banking services for large corporate and financial institutions; asset management and administration services for corporations and pension funds; loans, deposits, fund transfers, and investments services for retail, small and medium-sized enterprises, as well as corporate customers; fixed income instruments, currencies, equities, and other investment products; originates and distributes of financial products; and provides treasury services. Mitsubishi UFJ Financial Group, Inc. was founded in 1880 and is headquartered in Tokyo, Japan.


History

The financial group dates back to 1880 as the Yokohama Specie Bank, later renamed to The Bank of Tokyo. 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. After the Second World War, the Mitsubishi Keiretsu was broken up under US-imposed laws, and Mitsubishi Bank took on greater independence, albeit still central to the financing of the growth of the Mitsubishi group of companies.

In April 1996, The Mitsubishi Bank, Ltd. and The Bank of Tokyo, Ltd. merged. The Bank of Tokyo had been set up by the Japanese Government to act as Japan's international bank and was solely responsible for all Yen forex trading. During the Second World War, The Bank of Tokyo had controversially been the banker to the Imperial Japanese Army as it expanded through conquest throughout Asia. Its monopolistic position, dominating all Yen forex trades, was eroded over time and eventually ended during the 1990s. However, uniquely in Japan, with no keiretsu, the Bank of Tokyo was an ideal partner for Mitsubishi Bank, complementing the latter' strong domestic franchise with a unique international footprint. Additionally, during Japan's lost decade of economic stagnation, this marriage of two relatively strong banks was seen as a positive step in cleaning up the country's moribund banking sector.

In July 2004, Japan's fourth-largest financial group UFJ Holdings offered to merge with the Mitsubishi Tokyo Financial Group. 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, a part of the Toyota Motor Corporation. Toyota's chairman sat on the board of the UFJ which became one of the world's largest money-losing corporations. UFJ was accused by the government of corruption and making bad loans to the yakuza crime syndicates. The UFJ is one of the largest shareholders of Toyota.

The takeover of UFJ by the Mitsubishi Tokyo Financial Group was challenged by the Sumitomo Mitsui Banking Group, another of Japan's large banking groups, which launched a competing takeover bid. The Mitsubishi Tokyo Financial Group ultimately prevailed in the fight to acquire UFJ. The battle between the two Japanese mega-banks seemed to signal an end to the clubby atmosphere that had prevailed in Japan's postwar banking industry. The trust banking and securities units of the two groups were merged on October 1, 2005. The core banking units of MTFG 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 MUFG Bank.

In September 2008, MUFG signed a letter of intent with Morgan Stanley to form an alliance and purchase 20% of the American firm. In 2008 at the 2008 ALB Japan Law Awards, 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, MUFG and Morgan Stanley entered into an agreement to convert MUFG's outstanding convertible preferred stock in Morgan Stanley into Morgan Stanley stock.

Mitsubishi Tokyo Financial Group, Inc.

Mitsubishi Tokyo Financial Group, Inc. was one of Japan's largest banks ranked by assets, second only to Mizuho Holdings. On October 1, 2005, MTFG completed the acquisition of UFJ Holdings, Japan's fourth largest banking group, to form the Mitsubishi UFJ Financial Group, the world's largest bank ranked by assets with ¥190 trillion.

MTFG was widely considered financially the strongest of Japan's large banks, with non-performing loans down to 2.9% of assets.

UFJ Holdings, Inc.

UFJ Holdings, Inc. was the weakest among the three major banking groups in Japan. "UFJ" is an abbreviation of "United Financial of Japan", and was formed from a merger of Sanwa Bank and Tokai Bank with the Toyo Trust & Banking Co. Ltd, a part of the Toyota Motor Corporation. At the time, it was one of the largest shareholders of Toyota. The Chairman of Toyota was a director on its board during the financial scandals and indictments of three UFJ executives. The banking crisis led to its merger, after being one of the world's greatest losing corporations, on October 1, 2005, with the Mitsubishi Tokyo Financial Group to form the Mitsubishi UFJ Financial Group.

Formed on 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, MUFG took a 9.99 percent stake in Lynas Corp, an Australian rare earth developer.


Mission

The mission of Mitsubishi UFJ Financial Group (MUFG) is to provide comprehensive financial services that empower individuals, businesses, and communities to thrive, while fostering sustainable growth and contributing to a prosperous and interconnected global economy.

 


 


Vision

Mitsubishi UFJ Financial Group (MUFG) envisions becoming a trusted global financial partner that leads in innovation, sustainability, and customer-centricity, delivering superior value and contributing to a better future for all stakeholders.

 


 


Key Team

Yoshitaka Shiba (Sr. Managing Corp. Exec., Group Chief Audit Officer, MD & Head of Internal Audit Division)

Mr. Naomi Hayashi (Sr. Managing Corp. Exec., Hd. of Japanese Corp. & IB Bus. Group and Representative Exec. Officer)

Mr. Hideaki Takase (Managing Corp. Exe., Grp. COO-I & Deputy Grp. Head of Global Commercial Banking Buss. Grp.)

Mr. Randall Craig Chafetz (Vice Chairman of Global Corp. & Investment Banking)

Mr. Taka Saka (Sr. IR Mang.)

Mr. Atsushi Miyata (Sr. Managing Corp. Exec.,Group Hd. of Retail & Commercial Banking Bus and Repst. Exec. Officer)

Toshiki Ochi (Managing Corp. Exec. & Group CIO)


Recognition and Awards
MUFG has been selected for inclusion in Bloomberg's 2023 Gender-Equality Index. - MUFG was been selected for inclusion in FTSE Russell (a group company of the London Stock Exchange)'s FTSE4Good Index Series. 2022

Products and Services

Mitsubishi UFJ Financial Group (MUFG) offers a wide range of financial products and services, including banking, asset management, wealth management, and corporate and investment banking solutions. They cater to the diverse needs of individuals, businesses, and institutions, providing a comprehensive suite of financial tools and expertise to help clients achieve their financial goals and objectives.

 


 


References

https://en.wikipedia.org/wiki/Mitsubishi_UFJ_Financial_Group

https://www.crunchbase.com/organization/mitsubishi-ufj-financial-group

https://finance.yahoo.com/quote/MUFG/

https://www.comparably.com/companies/mufg-union-bank/mission

https://companiesmarketcap.com/largest-companies-by-revenue/

https://www.forbes.com/companies/mitsubishi-ufj-financial/

https://www.globaldata.com/company-profile/mitsubishi-ufj-financial-group-inc/

https://www.bloomberg.com/profile/company/8306:JP

https://markets.ft.com/data/equities/tearsheet/summary?s=MUFG:NYQ

https://coingeek.com/japan-mufg-stablecoin-platform-gets-support-from-mizuho-bank/

https://www.techinasia.com/short/50-words-mufg-launches-136m-fund-invest-aifocused-startups

https://www.investorsobserver.com/news/stock-update/premarket-mover-mitsubishi-ufj-financial-group-inc-mufg-up-4-15

https://www.dealstreetasia.com/stories/mufg-launches-fund-361873

https://www.japantimes.co.jp/business/2023/09/01/markets/mufg-brokerage-at1-sued/

https://www.thebanker.com/Mitsubishi-UFJ-Financial-Group-makes-its-Africa-move-1504252843

https://www.marketscreener.com/quote/stock/MITSUBISHI-UFJ-FINANCIAL-6492551/news/Mitsubishi-UFJ-Financial-Launch-of-MUFG-KOGEI-Project-44666822/

https://www.zacks.com/stock/news/2146222/mhfg-to-join-mitsubishis-mufg-stablecoin-issuance-platform

https://beststocks.com/title-evaluating-mitsubishi-ufj-financial-gro/

https://www.marketscreener.com/quote/stock/MITSUBISHI-UFJ-FINANCIAL-6492551/news/Mitsubishi-UFJ-Financial-Group-s-Net-Profit-Rose-Sharply-in-First-Quarter-44477733/

https://www.japantimes.co.jp/news/2023/05/29/business/corporate-business/mufj-yen-bond-coupon/

https://asia.nikkei.com/Business/Finance/MUFG-and-Morgan-Stanley-expand-15-year-old-brokerage-alliance

 

Mitsubishi UFJ Financial
Leadership team

Mr. Hironori Kamezawa (Pres, Group CEO, Representative Corp. Exec. & Director)

Mr. Tetsuya Yonehana (Sr. Managing Corp. Exec. & Group CFO and Representative Corp. Exec.)

Industries

Financial and Banking

Products/ Services
Finance, Financial Services
Number of Employees
Above 50,000
Headquarters
Tokyo, Tokyo, Japan
Established
2001
Company Registration
SEC CIK number: 0000067088
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
MUFG
Social Media

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Mon Feb 26 2024
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