Mitsubishi UFJ Financial Group is a leading global financial services group and one of the largest banking institutions in Japan. Financial services company.
Mitsubishi UFJ Financial Group, Inc. is a Japanese bank holding and financial services company headquartered in Chiyoda, Tokyo, Japan. MUFG holds assets 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.
Stock price: 729 JPY, 8306 (TYO) JP¥729 12 July 2022, 3:00 pm GMT+9 – Disclaimer
CEO: Hironori Kamezawa (May 2020–)
Headquarters: Chiyoda City, Tokyo, Japan
AUM: US$776 billion (2020)
Total assets: 3.1 lakh crores USD (2020), US$3.1 trillion (2020)
Revenue: JP¥4.495 trillion (2013)[
Number of employees: 1,68,500 (2020)
Number of customers: Around 8.2 million customers
Founded: 1 October 2005
Subsidiaries: MUFG Bank, Mitsubishi UFJ Trust and Banking Corporation, Mitsubishi UFJ Securities
Mitsubishi UFJ NICOS, Mitsubishi UFJ Lease & Finance, MUFG Union Bank, Bank Danamon.
Official Website: https://www.mufg.jp/
Japanese Name: 株式会社三菱UFJフィナンシャル・グループ
Services: Personal Banking, Corporate banking, Investment banking, Investment management, Wealth Management, Mortgage, Credit cards
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Key Point Of MUFG
The company was formed on October 1, 2005, with the merger of Tokyo-based Mitsubishi Tokyo Financial Group (MTFG), and Osaka-based UFJ Holdings.
The core banking units of the group, Bank of Tokyo-Mitsubishi and UFJ Bank, were merged on January 1, 2006, to form MUFG Bank. 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 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.
Who owns Mitsubishi Bank?
Mitsubishi UFJ Financial Group, Inc. is a Japanese bank holding and financial services company headquartered in Chiyoda, Tokyo, Japan. MUFG holds assets 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.
What does Mitsubishi UFJ Financial Group do?
As one of the world’s leading financial groups with total assets of approximately $3.1 trillion (USD)1, MUFG (Mitsubishi UFJ Financial Group) offers services in corporate and investment, commercial, and consumer banking, as well as transaction banking, securities, wealth management, and more.
Is Bank of Tokyo-Mitsubishi same as MUFG?
As of June 23, 2019, Mitsubishi UFJ Financial Group / MUFG Bank was ranked as the largest bank in Japan and the fourth largest in the world.
What companies does MUFG own?
About MUFG (Mitsubishi UFJ Financial Group, Inc.)
The Group’s operating companies include The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mitsubishi UFJ Trust and Banking Corporation (Japan’s leading trust bank), and Mitsubishi UFJ Securities Holdings Co., Ltd., one of Japan’s largest securities firms.
Which is biggest bank in Japan?
MUFG; MUFG Bank; Japan’s largest bank. Also largest bank in the world.
Which is the biggest bank in the world?
The Industrial and Commercial Bank Of China Ltd.
What does UFJ stand for?
Mitsubishi UFJ Financial Group, a large commercial bank in Japan.
What is the best bank in Japan?
- #1. Mitsubishi UFJ Financial Group.
- #2. Japan Post Bank Co., Ltd.:
- #3. Mizuho Financial Group:
- #4. Sumitomo Mitsui Financial Group:
- #5. Norinchukin Bank:
- #6. Resona Holdings:
- #7. Fukuoka Financial Group:
- #8. Chiba Bank:
Message from Management
In the fiscal year ended March 31, 2022 (“fiscal 2021”), MUFG’s customer-segment net operating profits grew significantly from the previous fiscal year, while expenses declined year-on-year when excluding the impact of foreign exchange rates. These results demonstrate the steady progress in our Strategies for Growth and Structural Reforms, two of the three strategic pillars defined in our current Medium-Term Business Plan (MTBP). In addition, profits attributable to owners of parent were 1,130.8 billion yen, surpassing our target of 1,050.0 billion yen and recording the highest profit in MUFG’s history. Moreover, ROE, our largest commitment under the MTBP, was 7.79%, 2.16 points higher than the previous fiscal year. The Common Equity Tier 1 (CET1) capital ratio, which represents financial soundness, was 10.4% (finalized Basel III reforms basis, excluding net unrealized gains on available-for-sale securities).
As for dividends per share, we will pay year-end dividends of 14.5 yen per share as announced. This, combined with interim dividends, will bring annual dividends up to 28.0 yen per share, 3 yen per share higher than the previous fiscal year. Furthermore, our forecast for fiscal 2022 annual dividends is set at 32 yen per share, an increase of 4 yen per share from fiscal 2021, in accordance with our pursuit of the progressive increase of dividends per share and a target dividend payout ratio of 40%. We have also announced the repurchase of our own shares worth 300.0 billion yen, in light of our CET1 capital ratio status, which currently remains above the target range of 9.5%–10.0%.
We have similarly made steady progress in terms of Corporate Transformation, the remaining strategic pillar of the MTBP. Regarding digital transformation, we released several new services in collaboration with external partners. Moreover, we have seen significant results from corporate culture reforms, with a growing number of employees stepping forward to take on new challenges. For example, we received 650 applications from 20 Group companies after initiating a program aimed at creating new businesses.
Our achievements also include the pursuit of carbon neutrality. We established interim targets to show our progress toward achieving net zero greenhouse gas (GHG) emissions from our financed portfolio. We are also engaged in a variety of other initiatives, such as providing diverse solutions to aid customers in their decarbonization efforts, by taking a groupwide, integrated approach that transcends regional boundaries. In April 2022, we issued the MUFG Progress Report, outlining the improvements we achieved under the initiatives mentioned above.
In September 2021, we announced the sale of MUFG Union Bank in the United States. This decision was made to optimize our allocation of management resources. Although procedures for obtaining the approval of relevant authorities are still underway, the transfer process has been progressing steadily, with its completion scheduled for the second half of 2022.
In fiscal 2022, the economic environment will likely be affected by a sense of caution due to the lingering COVID-19 pandemic. In addition, the outlook for international affairs and monetary market conditions is expected to remain volatile. However, we view changes in the business environment as opportunities. Therefore, we will explore and cultivate new avenues of profit, and take on the challenge of achieving 1 trillion yen in profits attributable to owners of parent.
We are determined to address issues that customers and society are grappling with in these uncertain times. In this way, we at MUFG as a whole will embody our Purpose, Committed to empowering a brighter future. We ask for your continued support.
May 2022
Hironori Kamezawa
President & Group CEO
Mitsubishi Tokyo Financial Group, Inc.
Mitsubishi Tokyo Financial Group, Inc. was one of Japan’s largest banks 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. 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. 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.
