UFJ and Tokyo-Mitsubishi Bank plan mega-merger

Maciamo · Jul 15, 2004, 08:59

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

squallleonheart · Jul 15, 2004, 23:43

wow... that's pretty big, and would suck if something happened to it...like a fire or something

Wang · Jul 16, 2004, 02:56

I think that would be quite cool.

名無し · Jul 16, 2004, 08:29

Sumitomo Moves to Halt UFJ - Mitsubishi Tokyo Merger Talks

名無し · Jul 31, 2004, 00:29

Sumitomo Enters UFJ Merger Fray (CNN)
Sumitomo Mitsui Offers Competing Bid for UFJ Holdings (Bloomberg)

Maciamo · Aug 14, 2004, 07:42

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.

Anyhow...

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."

名無し · Oct 11, 2004, 07:12

Prosecutors Raid Japan's UFJ Bank (BBC)

UFJ Is Raided by Prosecutors after Criminal Complaint (Bloomberg)

openup · Oct 12, 2004, 23:13

Are you known as Pingpong at JT Forum? 名無し san?
The way you post is just like him...

名無し · Oct 13, 2004, 02:37

Originally Posted by openup

Are you known as Pingpong at JT Forum? 名無し san?

No, I am not pingpong100.

Jul 15, 2004, 08:59	#1
Maciamo Decommissioned ex-admin Join Date: Jul 17, 2002 Location: Austrasia Posts: 6,647	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 __________________ Over 100 destinations in the Japan Sightseeing Guide + detailed Tokyo Guide and Kyoto Guide Eupedia : Your Guide to Europe in English Read the "Maciamo FAQ" "What is the use of living, if it be not to strive for noble causes and to make this muddled world a better place for those who will live in it after we are gone?", Winston Churchill.

Jul 15, 2004, 23:43	#2
squallleonheart just bring it Join Date: Jul 13, 2004 Location: balamb garden Age: 21 Posts: 86	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....

Aug 14, 2004, 07:42	#6
Maciamo Decommissioned ex-admin Join Date: Jul 17, 2002 Location: Austrasia Posts: 6,647	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. Anyhow... 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."

Oct 13, 2004, 02:37	#9
名無し Regular Member Join Date: Mar 1, 2004 Posts: 566	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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Jul 16, 2004, 02:56	#3
Wang Regular Member Join Date: Apr 21, 2004 Location: Originally from Taiwan Posts: 324	I think that would be quite cool.

Jul 16, 2004, 08:29	#4
名無し Regular Member Join Date: Mar 1, 2004 Posts: 566	Sumitomo Moves to Halt UFJ - Mitsubishi Tokyo Merger Talks

Jul 31, 2004, 00:29	#5
名無し Regular Member Join Date: Mar 1, 2004 Posts: 566	Sumitomo Enters UFJ Merger Fray (CNN) Sumitomo Mitsui Offers Competing Bid for UFJ Holdings (Bloomberg)

Oct 11, 2004, 07:12	#7
名無し Regular Member Join Date: Mar 1, 2004 Posts: 566	Prosecutors Raid Japan's UFJ Bank (BBC) UFJ Is Raided by Prosecutors after Criminal Complaint (Bloomberg)

Oct 12, 2004, 23:13	#8
openup Regular Member Join Date: Oct 6, 2004 Location: Kanto of Japan Posts: 124	Are you known as Pingpong at JT Forum? 名無し san? The way you post is just like him...