The Bank of Tokyo-Mitsubishi UFJ
Encyclopedia
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Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
, which was established on January 1, 2006, with the merger of the Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Ltd. The bank serves as the core retail and commercial banking arm of the Mitsubishi UFJ Financial Group.
As at 31 October 2010 BTMU was ranked by Bloomberg
Bloomberg L.P.
Bloomberg L.P. is an American privately held financial software, media, and data company. Bloomberg makes up one third of the $16 billion global financial data market with estimated revenue of $6.9 billion. Bloomberg L.P...
as the largest bank in Japan and the eighth largest in the world.
The bank's head office is in Marunouchi
Marunouchi
Marunouchi is a commercial district of Tokyo located in Chiyoda between Tokyo Station and the Imperial Palace. The name, meaning "inside the circle", derives from its location within the palace's outer moat...
, Chiyoda
Chiyoda, Tokyo
is one of the 23 special wards in central Tokyo, Japan. In English, it is called Chiyoda ward. As of October 2007, the ward has an estimated population of 45,543 and a population density of 3,912 people per km², making it by far the least populated of the special wards...
, Tokyo
Tokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...
, Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
, with 772 other offices in Japan and 76 offices overseas.
The Bank of Tokyo-Mitsubishi
BTMU dates back to 1880 as was founded by former samurai Iwasaki Yatarō, and was a core member of Mitsubishi GroupMitsubishi
The Mitsubishi Group , Mitsubishi Group of Companies, or Mitsubishi Companies is a Japanese multinational conglomerate company that consists of a range of autonomous businesses which share the Mitsubishi brand, trademark and legacy...
companies. Also, in 1880, the Yokohama Specie Bank
Yokohama Specie Bank
is a Japanese bank founded in Yokohama, Japan in the year 1880. It later became The Bank of Tokyo, Ltd. in 1947. The bank played a significant role in Japanese trade with China...
was established, which was the forerunner of , established in 1945 with most of Yokohama Specie Bank's assets. In April 1996, the Mitsubishi Bank, Ltd. and the Bank of Tokyo, Ltd. merged into , becoming the world's largest bank in terms of total assets.
UFJ Bank
was a JapanJapan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
ese bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
originally established by the merger in 2002 of (based in Osaka
Osaka
is a city in the Kansai region of Japan's main island of Honshu, a designated city under the Local Autonomy Law, the capital city of Osaka Prefecture and also the biggest part of Keihanshin area, which is represented by three major cities of Japan, Kyoto, Osaka and Kobe...
), (based in Nagoya), and .
The Bank of Tokyo-Mitsubishi UFJ
In July 2004, Japan's fourth-largest financial group UFJ Holdings, Inc. offered to merge with Mitsubishi Tokyo Financial Group (MTFG). The merger of the two bank holding companies was completed on October 1, 2005, creating the Mitsubishi UFJ Financial Group. The core banking units of MTFG and UFJ Holdings, the Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Ltd., respectively, continued to operate separately until January 1, 2006, when two units combined to form the Bank of Tokyo-Mitsubishi UFJ, Ltd.Holdings
- UnionBanCal CorporationUnionBanCal CorporationUnionBanCal Corporation is a bank holding company in San Francisco, United States. UnionBanCal has assets of $68.7 billion at March 31, 2009.It is a member of the Mitsubishi UFJ Financial Group.-Sections:*Community Banking and Investment Services Group...
(approx 63% in Feb 2005; 68% in 2004; 100% in 2008) - Chong Hing Bank (9.66%)
- Morgan StanleyMorgan StanleyMorgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
(21%). On September 29, 2008, Mitsubishi UFJ Financial Group announced that it would acquire a shareholding in Morgan Stanley for US$9 billion. In the midst of the October 2008 stock market crash, concerns over the completion of the Mitsubishi deal caused a dramatic fall in Morgan Stanley's stock price to levels last seen in 1994. Morgan Stanley's share price recovered considerably after Mitsubishi UFJ closed the deal on October 14, 2008. - Aberdeen Asset ManagementAberdeen Asset ManagementAberdeen Asset Management plc is an international investment management group, managing assets for both institutions and private investors from offices around the world. Its head office is in Aberdeen, Scotland. The company is a constituent of the FTSE 250 Index.-History:The company was...
(9.9% in Oct 2008)