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