Mitsubishi UFJ Financial Group

is a Japanese bank holding / financial services company headquartered in Chiyoda, Tokyo, Japan.

It holds assets of around US$2.4 trillion (JPY 200 trillion) as of March 2010 and is one of the main companies of the Mitsubishi Group. 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 deposit as of March 2010.

Background

The company was formed on October 1, 2005 with the merger of Tokyo-based Mitsubishi Tokyo Financial Group (MTFG), formerly Japan's second-largest banking conglomerate, 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...
Read More