Mitsubishi UFJ Financial Group

Mitsubishi UFJ Financial Group, Inc. (MUFG; 株式会社三菱UFJフィナンシャル・グループ, Mitsubishi Yūefujei Finansharu Gurūpu) is a Japanese bank holding / financial services company headquartered in Chiyoda, Tokyo, Japan.

It holds assets of around US$2.5 trillion (JPY 230 trillion) as of March 2013 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$1.8 trillion (JPY 148 trillion) in deposits as of March 2011. Mitsubishi UFJ Financial is the second largest public company in Japan when measured by market capitalization.

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 of MTFG and UFJ were merged according to the original schedule on October 1, 2005.