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Thread: UFJ and Tokyo-Mitsubishi Bank plan mega-merger

  1. #1
    Twirling dragon Maciamo's Avatar
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    Jul 17, 2002

    UFJ and Tokyo-Mitsubishi Bank plan mega-merger

    BBC News : Japan bank UFJ eyes mega-merger

    UFJ, Japan's fourth biggest bank, has confirmed it is seeking a takeover by Mitsubishi Tokyo Finance Group (MTFG), to create the world's biggest bank.
    The combined assets would be worth 188 trillion yen ($1.74 trillion; 」0.94 trillion) - bigger than Citigroup.
    [The merger] would act as a rescue plan for UFJ, say analysts, after three years of heavy losses.

    By contrast, MTFG, Japan's second largest bank, is one of Japan's healthiest.
    UFJ's bad debts

    UFJ is a relative laggard in clearing up its bad loans position.

    UFJ reported large losses for the last financial year and was criticised by the Financial Services Agency in June for being evasive when inspections by regulators were taking place.
    UFJ vs Tokyo-Mitsubishi :

    UFJ: Net income - 402bn yen loss
    UFJ: Assets - 82 trillion yen
    UFJ: Branches - 520 domestic, 26 overseas

    MTFG: Net income - 560bn yen profit
    MTFG: Assets - 106 trillion yen.
    MTFG: Branches - 315 domestic, 81 overseas
    source: UFJ, MTFG March 2004

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  2. #2
    just bring it squallleonheart's Avatar
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    Jul 13, 2004
    balamb garden
    wow... that's pretty big, and would suck if something happened to it...like a fire or something
    Whenever you search in the wind for that glimpse of your memory... I'll be there....

  3. #3
    Regular Member Wang's Avatar
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    Apr 21, 2004
    Originally from Taiwan
    I think that would be quite cool.

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  6. #6
    Twirling dragon Maciamo's Avatar
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    Jul 17, 2002
    That seems to be done.

    BBC News : Merger forms world's biggest bank

    Japan's Mitsubishi Tokyo Financial Group has clinched a deal to take over troubled rival UFJ Holdings after weeks of tense negotiations.
    The signing of the agreement beats a rival bid from Sumitomo Mitsui Financial Group, although the latter is refusing to throw in the towel.
    or not quite ?

    After Thursday's deal was announced, Sumitomo - the country's number three - said it would press on with a rival bid for UFJ, whose market value is about $23bn.

    It had earlier argued that the proposed MTFG-UJF tie-up would breach an existing agreement it had with UFJ to buy its trust banking operations.
    For memo, UFJ Bank was created from the merger of Sanwa Bank and Tokai Bank, while UFJ Trust used to be called Toyo Trust. Together, they form the UFJ Holdings. The solution might be for MTFG to acquire UFJ Bank and Mitsui-Sumitomo to purchase UFJ Trust.


    The two banks' branch networks appear to fit well together, with three quarters of MTFG's domestic branches located in eastern Japan, and three in five of UFJ's in the west and centre.

    "MTFG is strong in wholesale and UFJ in retail, meaning they have totally different business aspirations and skills to achieve their goals," said Yoshimasa Nishimura, a former finance ministry banking bureau head.

    But Mr Nishimura, now at Tokyo's Waseda University, warned: "There is no guarantee the new bank won't get bogged down in confusion, as was the case for past bank mergers."

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  8. #8
    Regular Member openup's Avatar
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    Oct 6, 2004
    Kanto of Japan
    Are you known as Pingpong at JT Forum? 名無し san?
    The way you post is just like him...

  9. #9
    Regular Member 名無し's Avatar
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    Mar 1, 2004
    Quote Originally Posted by openup
    Are you known as Pingpong at JT Forum? 名無し san?
    No, I am not pingpong100.
    Last edited by 名無し; Oct 13, 2004 at 19:26.

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