is a Japanese bank holding and

financial services Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, ...

company headquartered in

Chiyoda, Tokyo is a special ward located in central Tokyo, Japan. It is known as Chiyoda City in English.Profile< ...

, Japan. MUFG holds

asset In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value of ownership that c ...

s of around US$3.1

trillion ''Trillion'' is a number with two distinct definitions: *1,000,000,000,000, i.e. one million million, or (ten to the twelfth power), as defined on the short scale. This is now the meaning in both American and British English. * 1,000,000,000,00 ...

as of 2016 and is one of the "Three Great Houses" of the Mitsubishi Group alongside

Mitsubishi Corporation is Japan's largest trading company (sogo shosha) and a member of the Mitsubishi keiretsu. As of 2022, Mitsubishi Corporation employs over 80,000 people and has ten business segments, including finance, banking, energy, machinery, chemical ...

and

Mitsubishi Heavy Industries is a Japanese multinational engineering, electrical equipment and electronics corporation headquartered in Tokyo, Japan. MHI is one of the core companies of the Mitsubishi Group and its automobile division is the predecessor of Mitsubishi ...

. It is Japan's largest financial group and the world's second largest

bank holding company A bank holding company is a company that controls one or more banks, but does not necessarily engage in banking itself. The compound bancorp (''banc''/''bank'' + '' corp ration') is often used to refer to these companies as well. United States ...

holding around US$1.8 trillion (JP¥148 trillion) in deposits as of March 2011. The letters ''MUFG'' come from ''Mitsubishi'' and '' United Financial of Japan''.

Background

The company was formed on October 1, 2005, with the merger of

Tokyo Tokyo (; ja, 東京, , ), officially the Tokyo Metropolis ( ja, 東京都, label=none, ), is the capital and largest city of Japan. Formerly known as Edo, its metropolitan area () is the most populous in the world, with an estimated 37.46 ...

-based Mitsubishi Tokyo Financial Group (MTFG), and

Osaka is a designated city in the Kansai region of Honshu in Japan. It is the capital of and most populous city in Osaka Prefecture, and the third most populous city in Japan, following Special wards of Tokyo and Yokohama. With a population of ...

-based UFJ Holdings. The core banking units of the group,

Bank of Tokyo-Mitsubishi is the largest bank in Japan. It was established on January 1, 2006, following the merger of the Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Ltd. MUFG is one of the three so-called Japanese "megabanks" (along with SMBC and Mizuho). As such, ...

and

UFJ Bank UFJ, which stands for the United Financial of Japan, is used in the former companies of UFJ Bank, UFJ Group, and UFJ Holdings. These related institutions disappeared after the merger of The Bank of Tokyo-Mitsubishi and UFJ Bank in 2005. UFJ Bank ...

, were merged on January 1, 2006, to form

MUFG Bank is the largest bank in Japan. It was established on January 1, 2006, following the merger of the Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Ltd. MUFG is one of the three so-called Japanese "megabanks" (along with SMBC and Mizuho). As such, ...

. 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 The is a Japanese government agency and an integrated financial regulator responsible for overseeing banking, securities and exchange, and insurance sectors in order to ensure the stability of the financial system of Japan. The agency operates ...

, 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 MTFG and UFJ were merged according to the original schedule on October 1, 2005. On October 31, 2018, MUFG to acquire Australian Asset Manager, Colonial First State Global Asset Management.

Senior leadership

* ''Chairman:'' Kanetsugu Mike (since April 2021) * ''Chief Executive:'' Hironori Kamezawa (Since April 2021)

List of former chairmen

# Ryosuke Tamakoshi (2005–2010) # Takamune Okihara (2010–2014) # Kiyoshi Sono (2014–2019) # Nobuyuki Hirano (2019–2021)

List of former chief executives

# Nobuo Kuroyanagi (2005–2010) # Katsunori Nagayasu (2010–2013) # Nobuyuki Hirano (2013–2019) # Kanetsugu Mike (2019–2021)

History

The financial group dates back to 1880 as the

Yokohama Specie Bank was a Japanese bank founded in Yokohama, Japan in the year 1880. Its assets were transferred to The Bank of Tokyo (now MUFG Bank) in 1946. The bank played a significant role in Japanese overseas trade, especially with China. The original b ...

, later renamed to

The Bank of Tokyo was a Japanese foreign exchange bank that operated from 1946 to 1996. In January 1996, it merged with Mitsubishi Bank to form The Bank of Tokyo-Mitsubishi (now MUFG Bank). Its headquarters was in the Nihonbashi district of Tokyo, adjacent to the ...

. Also in 1880, The Mitsubishi Bank, Ltd. was founded by former

samurai were the hereditary military nobility and officer caste of medieval and early-modern Japan from the late 12th century until their abolition in 1876. They were the well-paid retainers of the '' daimyo'' (the great feudal landholders). They ...

Yataro Iwasaki. In 1919, the Mitsubishi Bank financed the

Mitsubishi The is a group of autonomous Japanese multinational companies in a variety of industries. Founded by Yatarō Iwasaki in 1870, the Mitsubishi Group historically descended from the Mitsubishi zaibatsu, a unified company which existed from 1870 ...

zaibatsu is a Japanese term referring to industrial and financial vertically integrated business conglomerates in the Empire of Japan, whose influence and size allowed control over significant parts of the Japanese economy from the Meiji period unt ...

'', most of which is today

. After the Second World War the Mitsubishi Keiretsu was broken up under US imposed laws, and

Mitsubishi Bank was a major Japanese bank that served as the main bank for the Mitsubishi conglomerate/''keiretsu''. It merged with The Bank of Tokyo in 1996 to form The Bank of Tokyo-Mitsubishi (now MUFG Bank). The bank's operations date to 1880, when Mitsubi ...

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.

had been set up by the Japanese Government to act as Japan's international bank, and solely responsible for all Yen forex trading. Uniquely in Japan, with no ''

keiretsu A is a set of companies with interlocking business relationships and shareholdings. In the legal sense, it is a type of informal business group that are loosely organized alliances within the social world of Japan's business community. The '' ...

'', Bank of Tokyo was an ideal partner for

, 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. UFJ was accused by the government of

corruption Corruption is a form of dishonesty or a criminal offense which is undertaken by a person or an organization which is entrusted in a position of authority, in order to acquire illicit benefits or abuse power for one's personal gain. Corruption m ...

and making bad loans to the

yakuza , also known as , are members of transnational organized crime syndicates originating in Japan. The Japanese police and media, by request of the police, call them , while the ''yakuza'' call themselves . The English equivalent for the ter ...

crime syndicates. 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

, respectively, continued to operate separately until January 1, 2006, when they were merged to form

. In September 2008, MUFG signed a letter of intent with

Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...

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

entered into an agreement to convert MUFG's outstanding convertible preferred stock in Morgan Stanley into Morgan Stanley stock.

Mitsubishi Tokyo Financial Group, Inc.

was one of Japan's largest

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

s ranked by assets (an estimated US$1 trillion), 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 (MUFG), the world's largest bank ranked by assets with ¥190 trillion (approximately $1.7 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., 株式会社UFJホールディングス, UFJ; Kabushiki kaisha yūefujei hōrudingusu was the weakest among the three major banking groups in Japan. "UFJ" is an abbreviation of "United Financial of Japan", 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 is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on . Toyota is one of the largest automobile manufacturers in the world, producing about 10 ...

. 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 is the largest bank in Japan. It was established on January 1, 2006, following the merger of the Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Ltd. MUFG is one of the three so-called Japanese "megabanks" (along with SMBC and Mizuho). As such, ...

to form the Mitsubishi UFJ Financial Group. Formed April 1, 2001, with the merger of

Sanwa Bank was a major Japanese bank headquartered in Osaka, which operated from 1933 to 2002. It merged with Tokai Bank to form UFJ Bank (now part of MUFG Bank). In the 1990s, it was the most profitable bank in the world, and second-largest in terms of ass ...

Tokai Bank Tōkai ( 東海, literally ''East Sea'') in Japanese may refer to: * Tōkai region, a subregion of Chūbu * Tōkai, Ibaraki, a village, also known as "Tokaimura" (Tokai-village) * Tōkai, Aichi, a city * Tōkai University, a private university in T ...

, and Toyo Trust and Banking. In July 2004, UFJ announced plans to merge with the

. The merger was completed on October 1, 2005, creating the Mitsubishi UFJ Financial Group, the world's second biggest bank by

assets In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value of ownership that can ...

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 Lynas Rare Earths, Ltd. is an Australian rare-earths mining company, listed on the Australian Securities Exchange as a S&P/ASX 200 company. It has two major operations: a mining and concentration plant at Mount Weld, Western Australia ...

Corp, an Australian rare earths developer.

Group companies

Commercial bank

* MUFG Bank, Ltd. * Union Bank *

Bank of Ayudhya Bank of Ayudhya Public Company Limited, branded and commonly referred to as Krungsri (sometimes stylized as krungsri), is the fifth largest bank in Thailand in terms of assets, loans, and deposits. Through its branches and service outlets are in ...

, bank in Thailand *

Security Bank Security Bank Corporation (SBC) is a universal bank in the Philippines. It was established on June 18, 1951, as Security Bank and Trust Company and was the first private and Filipino-controlled bank of the post-World War II period. Security B ...

, semi-major bank in the Philippines. * Vietinbank, Vietnamese bank. *

Bank Danamon PT Bank Danamon Indonesia Tbk is an Indonesian bank established in 1956. It is the sixth largest bank of Indonesia by asset size. History Bank Danamon was established on July 16, 1956, as PT Bank Kopra Indonesia. In 1976, the bank's name was c ...

, bank in Indonesia. * , online.

Associated companies

Trust bank A trust company is a corporation that acts as a fiduciary, trustee or agent of trusts and agencies. A professional trust company may be independently owned or owned by, for example, a bank or a law firm, and which specializes in being a trust ...

Mitsubishi UFJ Trust and Banking Corporation is the trust banking arm of the Mitsubishi UFJ Financial Group, a Japanese financial services group which is the largest in the world measured by assets. The bank is headquartered in Tokyo, Japan. The merger of Mitsubishi Tokyo Financial Gro ...

Microfinance Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings ...

** Hattha Kaksekar (Cambodia microfinance institution) *

Securities A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any for ...

** (intermediate holding company) *** Mitsubishi UFJ Securities (a retail joint venture between with

) *** (a joint venture between MUFG and Morgan Stanley) *** (private banking brokerage business entities) *** (Internet-only securities) *

Lease A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial ...

** ** ** * Research and consulting ** ** Mitsubishi Asset Brains ** Mitsubishi UFJ Trust Investment Engineering Laboratory *

System A system is a group of interacting or interrelated elements that act according to a set of rules to form a unified whole. A system, surrounded and influenced by its environment, is described by its boundaries, structure and purpose and express ...

Mitsubishi Research Institute DCS Mitsubishi Research Institute DCS (三菱総研DCS), often simply called DCS, for Diamond Computer Service, its former name, is the system integrator of Mitsubishi UFJ Financial Group (MUFG), jointly owned by Mitsubishi Research Institute, Inc. ...

** ** ** ** MU Business Engineering *

Asset management Asset management is a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings ...

The Master Trust Bank of Japan is a trust bank in Japan. It was founded in 2000 and claims to be the first trust bank in Japan to be exclusively engaged in asset administration business. The company's shareholders are Mitsubishi UFJ Trust and Banking Corporation (46.5%), ...

Asset Management Asset management is a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings ...

** ** MU Investment Advisor *

Venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which h ...

** Mitsubishi UFJ Capital *

Wealth management Wealth management (WM) or wealth management advisory (WMA) is an investment advisory service that provides financial management and wealth advisory services to a wide array of clients ranging from affluent to high-net-worth (HNW) and ultra-high ...

** Mitsubishi UFJ Wealth Management Securities ** Mitsubishi UFJ Personal Financial Advisors * Factoring ** Mitsubishi UFJ Factor * Securities agency ** Japan share holder service * Banking agency ** Mitsubishi UFJ Financial Partners *

Foreign currency exchange A bureau de change (plural bureaux de change, both ) (British English) or currency exchange (American English) is a business where people can exchange one currency for another. Nomenclature Although originally French, the term "bureau de chan ...

** *

Consumer finance Personal finance is the financial management which an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events. When planning personal fin ...

Acom is one of Japan's largest consumer loan companies, (or '' sarakin''). The name "Acom" stands for Affection, Confidence and Moderation. The company was founded by Masao Kinoshita, who was later replaced by his eldest son Kyosuke Kinoshita, the curr ...

(equity-method affiliate) * Cards and credit sales **

Mitsubishi UFJ NICOS Mitsubishi UFJ NICOS Co., Ltd., formerly name Nippon Shinpan, is a Japanese company. It was established in 1951 and became Japan's first and largest credit company during the post-World War Japanese economic boom. Now part with Mitsubishi UFJ Fina ...

** ** (affiliated company accounted for by the equity method) ** ** *

Finance Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of f ...

** (

unlimited company An unlimited company or private unlimited company is a hybrid company ( corporation) incorporated with or without a share capital (and similar to its limited company counterpart) but where the legal liability of the members or shareholders is ...

) *

Real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more genera ...

** *

Debt collection Debt collection is the process of pursuing payments of debts owed by individuals or businesses. An organization that specializes in debt collection is known as a collection agency or debt collector. Most collection agencies operate as agents of ...

** * Public interest corporation ** Foundation Mitsubishi UFJ Trust Scholarship Foundation ** Mitsubishi UFJ Trust and Regional Culture Foundation ** Mitsubishi UFJ Trust Arts Foundation ** Mitsubishi UFJ International Foundation ** Mitsubishi Economic Research Institute ** Mitsubishi Foundation ** Mitsubishi Yowa

Investment holdings

* (39.9%) * The Master Trust Bank of Japan, Ltd. (46.5%) *

(22.4%) *

Chong Hing Bank Chong Hing Bank is a bank founded in Hong Kong in 1948. It is headquartered in Central, while the back offices are located in Western District and Mong Kok. It was owned by the Liu family of Hong Kong until it was acquired by the Chinese state ...

(9.66%) * Union Bank N.A. (100%) * Vietinbank (20%), with which the Group decided to establish a strategic partnership in December 2012

Major shareholders

As of March 31, 2013

References

External links

Mitsubishi UFJ Financial Group website
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Mitsubishi UFJ Financial Group website
�� {{DEFAULTSORT:Mitsubishi Ufj Financial Group Mitsubishi companies Conglomerate companies of Japan Banks of Japan Conglomerate companies based in Tokyo Financial services companies based in Tokyo Holding companies based in Tokyo Multinational companies headquartered in Japan Chiyoda, Tokyo Japanese companies established in 2005 Banks established in 2005 Holding companies established in 2005 Companies listed on the Tokyo Stock Exchange Companies listed on the New York Stock Exchange