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 companie ...

company headquartered in Chiyoda, Tokyo, 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 ca ...

s of around US$3.1 trillion as of 2016 and is one of the "Three Great Houses" of the Mitsubishi Group alongside Mitsubishi Corporation and Mitsubishi Heavy Industries. 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 Stat ...

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 List of cities in Japan, largest city of Japan. Formerly known as Edo, its metropolitan area () is the most populous in the world, ...

-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 UFJ, which stands for the United Financial of Japan, is used in the former companies of UFJ Bank, UFJ Group, and UFJ Holdings. These rela ...

, 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 w ...

, 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, later renamed to The Bank of Tokyo. Also in 1880, The Mitsubishi Bank, Ltd. was founded by former

samurai were the hereditary military nobility and officer caste of History of Japan#Medieval Japan (1185–1573/1600), medieval and Edo period, early-modern Japan from the late 12th century until their abolition in 1876. They were the well-paid retai ...

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 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 ...

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 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 ''ke ...

'', 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 UFJ, which stands for the United Financial of Japan, is used in the former companies of UFJ Bank, UFJ Group UFJ, which stands for the United Financial of Japan, is used in the former companies of UFJ Bank, UFJ Group, and UFJ Holdings. These relat ...

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 Toyo may refer to: Places * Tōyō, Kōchi, a town in Japan * Tōyo, Ehime, a former city in Japan * Toyo Province, a Japanese province divided in 683 * Tōyō, Kumamoto, a village located in Yatsuhiro District, Kumamoto, Japan * Tōyō, Toky ...

. 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 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 f ...

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 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 markets. Becau ...

s ranked by assets (an estimated US$1 trillion), second only to Mizuho Holdings. On October 1, 2005, MTFG completed the

acquisition Acquisition may refer to: * Takeover, the purchase of one company by another * Mergers and acquisitions, transactions in which the ownership of companies or their operating units are transferred or consolidated with other entities * Procurement, ...

, 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 a ...

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 ...

, and

. 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 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 earths developer.

Group companies

Commercial bank

* MUFG Bank, Ltd. * Union Bank * Bank of Ayudhya, bank in Thailand * Security Bank, semi-major bank in the Philippines. *

Vietinbank Vietinbank (Vietnam Joint Stock Commercial Bank for Industry and Trade) ( vi, Ngân hàng Thương mại Cổ phần Công thương Việt Nam) is a state-owned Vietnamese bank. It has strategic partnerships with the International Finance Corporat ...

, Vietnamese bank. * Bank Danamon, bank in Indonesia. * , online.

Associated companies

* Trust bank ** Mitsubishi UFJ Trust and Banking Corporation * Microfinance ** Hattha Kaksekar (Cambodia microfinance institution) * Securities ** (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 ** ** ** * Research and consulting ** ** Mitsubishi Asset Brains ** Mitsubishi UFJ Trust Investment Engineering Laboratory * System ** Mitsubishi Research Institute DCS ** ** ** ** 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 start-up company, startups, early-stage, and emerging companies that have been deemed to have high growth poten ...

** Mitsubishi UFJ Capital * Wealth management ** 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 cha ...

** *

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 fi ...

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 is the ...

(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 ** ( unlimited company) *

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 ** * 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 commonly referred to as simply Mitsubishi Yowa or Yowa-kai is a Japanese multisports club based in Sugamo, Tokyo. It is most notable for its football section, also known as Mitsubishi Yowa S.C.. The youth football team is famous for producing ma ...

Investment holdings

* (39.9%) *

The Master Trust Bank of Japan, Ltd. 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%), ...

(46.5%) *

(22.4%) * Chong Hing Bank (9.66%) *

Union Bank N.A. Union commonly refers to: * Trade union, an organization of workers * Union (set theory), in mathematics, a fundamental operation on sets Union may also refer to: Arts and entertainment Music * Union (band), an American rock group ** ''Un ...

(100%) *

(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