Mitsubishi UFJ Financial Group, Inc. (MUFG) engages in a wide range of financial businesses.
The company is the holding company for MUFG Bank, Ltd. (formerly, The Bank of Tokyo-Mitsubishi UFJ, Ltd.), Mitsubishi UFJ Trust and Banking Corporation, Mitsubishi UFJ Securities Holdings Co., Ltd., Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Mitsubishi UFJ NICOS Co., Ltd., Mitsubishi UFJ Asset Management Co., Ltd., and other companies.
The company, through its subsidiaries and affiliated compa...
Mitsubishi UFJ Financial Group, Inc. (MUFG) engages in a wide range of financial businesses.
The company is the holding company for MUFG Bank, Ltd. (formerly, The Bank of Tokyo-Mitsubishi UFJ, Ltd.), Mitsubishi UFJ Trust and Banking Corporation, Mitsubishi UFJ Securities Holdings Co., Ltd., Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Mitsubishi UFJ NICOS Co., Ltd., Mitsubishi UFJ Asset Management Co., Ltd., and other companies.
The company, through its subsidiaries and affiliated companies, engages in a broad range of financial businesses and services, including commercial banking, investment banking, trust assets and asset management services, securities businesses and credit card businesses; and provide related services to individuals primarily in Japan, Thailand and Indonesia and to corporate customers around the world.
As a bank holding company, the company is regulated under the Banking Act of Japan. The company's services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management, leasing and many more fields of financial services. As of March 31, 2025, the company had the largest overseas network among Japanese banks, consisting of approximately 2,000 business locations in more than 40 countries, domestic and overseas, including Krungsri in Thailand and Bank Danamon in Indonesia. MUFG's role as the holding company is to strategically manage and coordinate the activities of the company's business groups.
Strategy
In order to pursue and achieve growth under the current Medium-term Business Plan, the company has formulated seven key strategies to ‘Expand & Refine Growth Strategies’ and four key strategies to ‘Accelerate Transformation & Innovation.’
Expand & Refine Growth Strategies: Key strategies are to strengthen domestic retail customer base; strengthen corporate x wealth management (WM) business; evolve Global Corporate & Investment Banking-Global Markets integrated business model; strengthen APAC business and platform resilience; contribute to making Japan a leading asset management center; support value chain in green transformation; and Challenge to build a new business portfolio.
Accelerate Transformation & Innovation: Key strategies are to accelerate transformation to be more agile; expand human capital investment; Increase system development capacity; and enhance AI/data infrastructure.
Business Groups
The company's business groups are organized as follows with an intention to further integrate the expertise and capabilities of its subsidiaries to respond to the needs of its customers more effectively and efficiently.
Retail & Digital Business Group
The Retail & Digital Business Group focuses on serving retail customers, excluding wealth management customers, in Japan. This business group was formed on April 1, 2024 through the strategic reorganization of the Digital Service Business Group and the Retail & Commercial Banking Business Group. This reorganization was a response to the evolving and diversifying retail customer needs, including the demand for asset management solutions, driven by shifts in the economic and financial landscape. This business group seeks to enable a wider range of retail customers to flexibly utilize MUFG’s diverse service channels.
One of the strategic missions of this business group is to expand its touchpoints by optimally mixing the three service channels under the concept of ‘Real (Face-to-Face) × Remote × Digital’ and deliver customer experience that makes its customers think ‘I’m glad I chose MUFG.’ The company intends to further strengthen its retail business by maximizing customer life-time value (LTV).
Commercial Banking & Wealth Management Business Group
The Commercial Banking & Wealth Management Business Group provides a wide range of financial products and services, including lending, fund settlement, M&A, inheritance, real estate, asset management, and business and asset succession solutions, to meet the diverse needs of not only large enterprises managed by the branches in Japan, but also small and mid-sized enterprises in Japan as well as domestic retail clients in the wealth management segment.
Taking into account recent developments in the market and social environments in Japan, such as the transition into a world with interest rates, the declining birthrate and the aging population, as well as the Japanese government's policies to encourage investments in startups and promote asset management, the company intends to strengthen its business succession and asset succession solutions in the overlapping areas between the corporate commercial banking business and the wealth management business, in addition to the products and services tailored to each of the corporate segment and the wealth management segment.
Japanese Corporate & Investment Banking Business Group
The Japanese Corporate & Investment Banking Business Group provides services to help large Japanese corporate customers seeking global expansion achieve growth in their corporate value. The company is engaged in the lending, fund settlement, and foreign exchange businesses and also provide comprehensive investment banking solutions and real estate-related services, fully employing the expertise of each group entity.
The company seeks to improve profitability and balance sheet soundness through strategic pricing focused on achieving appropriate returns and fine-tuning its balance sheet management policy in response to changes in the interest rate environment. Furthermore, the company continues with its effort to reduce it equity holdings for portfolio risk management purposes.
The company's customers are expanding their business domains to address social issues. Through engagement with customers, the company intends to collaborate to cultivate new industries and businesses. In this process, the company seeks to create new financing opportunities and provides financing to its customers, thereby contributing to the resolution of social issues.
Asset Management & Investor Services Business Group
The Asset Management & Investor Services Business Group covers the asset management and investor services businesses of Mitsubishi UFJ Trust and Banking, MUFG Bank and Mitsubishi UFJ Asset Management. The business group offers a full range of asset management and investor services for corporations and pension funds, including pension fund management and administration, advice on pension structures, and payments to beneficiaries, and also offers investment trusts for retail customers.
Global Corporate & Investment Banking Business Group
The Global Corporate and Investment Banking Business Group covers the corporate, investment and transaction banking businesses of MUFG Bank and Mitsubishi UFJ Securities Holdings. Through a global network of offices and branches, the company provides non-Japanese large corporate and financial institution customers with a comprehensive set of solutions that meet their increasingly diverse and sophisticated financing needs. Subject to obtaining the necessary regulatory approvals, MUFG Bank expects to acquire all of the shares in MUFG Securities EMEA plc, MUFG Securities Asia Limited, and MUFG Securities (Canada), Ltd., previously owned by Mitsubishi UFJ Securities Holdings on October 1, 2025, through a series of internal reorganization transactions, making them MUFG Bank’s wholly owned subsidiaries.
Through the integrated business management structure between the Global Corporate and Investment Banking Business Group and the Global Markets Business Group, the company intends to offer a wide range of financial services to meet the diverse needs of both corporate and institutional investor customers.
The expansion of the global corporate and investment banking and global markets businesses has been an important pillar of the MUFG Group's growth strategy. The company continues to work to strengthen the strategic alignment and collaboration among its group companies and across global geographies in order to best deploy its comprehensive expertise to provide its customers with value-added solutions and services.
Corporate Banking
Through the company's global network of offices and branches, it provides a full range of corporate banking solutions, such as project finance, export credit agency finance, and financing through asset-backed commercial paper. The company's primary customers include large corporations, financial institutions, sovereign and multinational organizations, and institutional investors that are headquartered outside of Japan.
Investment Banking
The company provides investment banking services, such as debt and equity issuance and M&A-related services to help its customers develop their financial strategies and realize their business goals. In order to meet customers' various financing needs, the company has established a customer-oriented coverage model through which its product experts coordinate with one another to offer innovative financing services globally. The company has further integrated the management of the operations of its commercial banking and securities subsidiaries to enhance collaboration. The company is one of the world's top providers of project finance, one of the core businesses of the Global Corporate and Investment Banking Business Group. The company provides sophisticated professional services in arranging limited-recourse finance and secured finance, and offering financial advice in various sectors, including natural resources, power, and infrastructure, backed by its experience, expertise, knowledge, and global network.
Transaction Banking
The company provides commercial banking products and services for large corporations and financial institutions in managing and processing domestic and cross-border payments, mitigating risks in international trade, and providing working capital optimization. The company provides customers with support for their domestic, regional and global trade finance and cash management programs through its extensive global network.
Global Commercial Banking Business Group
The Global Commercial Banking Business Group provides a comprehensive array of financial products and services such as loans, deposits, fund transfers, investments and asset management services for local retail customers, small and medium-sized enterprises, and corporate customers across the Asia-Pacific region through its major local commercial banking subsidiaries and affiliates outside of Japan referred to as Partner Banks. The company’s Partner Banks include Krungsri in Thailand, Bank Danamon in Indonesia, VietinBank in Vietnam and Security Bank in the Philippines.
The network among the Partner Banks covers a vast market, consisting of four countries with population totaling approximately 570 million. The market is expected to expand further in the medium to long term as the GDP growth rates is expected to remain relatively high in these countries with corresponding financial needs. The company intends to further strengthen the network by promoting business collaboration and enhancing governance. In addition, through continuous strategic investments in business areas such as digital financial services, it seeks to contribute to financial inclusion in Asia and capture the business opportunities arising from the economic growth of the region.
Bank of Ayudhya Public Company Limited (Krungsri)
Krungsri is a strategic subsidiary of MUFG Bank in Thailand. Krungsri provides a comprehensive range of banking, consumer finance, investment, asset management, and other financial products and services to retail consumers, small and medium-sized enterprises, and large corporations mainly in Thailand through various branches (consisting of banking branches, automobile finance business branches and overseas branch) and other service outlets nationwide. In addition, Krungsri’s consolidated subsidiaries include the largest credit card issuer in Thailand with a market share of 15%, sales finance and personal loan accounts in its portfolio, a major auto finance provider, a fast-growing asset management company and a leading microfinance service provider in Thailand.
MUFG owned a 76.88% ownership interest in Krungsri through MUFG Bank as of March 31, 2025. By combining Krungsri’s local franchise with competitive presence in the retail and small and medium-sized enterprise banking markets in Thailand with MUFG Bank’s global financial expertise, the company seeks to offer a wider range of high-value financial products and services to a more diverse and larger customer base.
PT Bank Danamon Indonesia, Tbk. (Bank Danamon)
Bank Danamon is a strategic subsidiary of MUFG Bank in Indonesia. Bank Danamon provides a comprehensive range of banking and other financial products and services to retail consumers, small and medium-sized enterprises, and large corporations in Indonesia. It operates an extensive distribution network spread out from Aceh to Papua, with various branches and service outlets.
In addition, Bank Danamon provides financing for automotive and consumer goods through PT Adira Dinamika Multi Finance Tbk (ADMF), a subsidiary of Bank Danamon. In March 2024, the company completed the acquisition of 80.6% of the shares of PT Mandala Multifinance Tbk, a multi-finance company in Indonesia, through MUFG Bank and ADMF. In April 2025, the company decided to merge MFIN into ADMF, subject to regulatory approvals. The company intends to further reinforce and expand its auto loan business in Indonesia.
MUFG made an initial investment in December 2017 and owned a 92.47% ownership interest in Bank Danamon through MUFG Bank as of March 31, 2025. This investment in Bank Danamon represents another milestone for its growth strategy in Indonesia and Southeast Asia. The company intends to offer a unique and unparalleled retail and small and medium-sized enterprise banking business model based on the established local networks of its Partner Banks and MUFG’s global network to provide holistic financial services to a wider range of customers.
Other Activities in Southeast Asia
The company has been expanding its operations in Southeast Asia with an effort to further develop its businesses abroad. In addition to Krungsri and Bank Danamon, the company has strategic business and capital alliances with other banks in Southeast Asia, including VietinBank in Vietnam and Security Bank in the Philippines, as its Partner Banks.
VietinBank provides a wide range of financial services to consumers, small businesses, middle-market and large companies through its branch network predominantly in Vietnam. The company owns a 19.73% equity interest in VietinBank.
Security Bank provides a wide range of financial services to consumers, small businesses, middle-market and large companies through its branch network in the Philippines. The company owns a 20% equity interest in Security Bank.
As part of its strategic investments to capture growth opportunities in the digital finance area, following the investments in Silvrr Technology Co., Ltd. (known as Akulaku), a fintech company providing digital financial services primarily in Indonesia, and in DMI Finance Private Ltd., a fintech company providing digital financial services primarily in India, the company completed the acquisition of HC Consumer Finance Philippines, Inc. and PT Home Credit Indonesia, both of which were subsidiaries of a consumer finance company headquartered in the Netherlands, in 2023. In June 2024, the company completed an investment in Ascend Money Company Limited in Thailand, followed by an investment in Globe Fintech Innovations, Inc. in the Philippines in February 2025. Both of these investees are providers of digital financial services in their home countries.
Global Markets Business Group
The Global Markets Business Group covers the customer business and the treasury operations of MUFG Bank, Mitsubishi UFJ Trust and Banking and Mitsubishi UFJ Securities Holdings. The customer business includes sales and trading in fixed income instruments, currencies and equities, as well as other investment products, and origination and distribution of financial products. The treasury operations include asset and liability management, as well as global investments for the MUFG Group. The company also makes and manage long-term diversified investments as a sustainable revenue source.
Customer Business
Sales and Trading in Fixed Income Instruments, Currencies and Equities: The company provides financing, hedging, and investment solutions to its retail, corporate, institutional, and governmental customers through sales and trading in financial market products, such as fixed income instruments, currencies, and equities.
Investment Products for Non-Institutional Customers in Japan: The company provides investment products such as mutual funds, and structured bonds, notes and deposits to non-institutional customers in Japan. The company offers solutions using these investment products to help customers better manage their assets and liabilities. This business is conducted through the integrated operations management structure among the Global Markets Business Group, the Asset Management and Investor Service Business Group, the Commercial Banking and Wealth Management Business Group, and the Japanese Corporate and Investment Banking Business Group.
Origination and Distribution: The company provides financing solutions to institutional customers through origination and distribution of financial products such as syndicated loans and securities issuances. This business is conducted through the integrated operations management structure between the Global Markets Business Group and the Global Corporate and Investment Banking Business Group.
Treasury Operations
Asset and Liability Management: The company seeks to manage interest rate and liquidity risks residing in its balance sheets through, among other things, transactions designed to manage the profit and loss impact attributable to market movements based on its balance sheet analyses and forecasts. Such transactions include investments in high quality liquid securities, such as Japanese government bonds and U.S. Treasury bonds and trading in other financial products, such as interest rate swaps and cross currency swaps.
Global Investment: Through its treasury operations, the company also seeks to enhance its profitability by diversifying its portfolio and strategically investing in financial products, including corporate bonds and funds.
Global Strategic Alliance with Morgan Stanley
As of March 31, 2025, the company held approximately 377 million shares of Morgan Stanley's common stock representing approximately 23.25% of the voting rights in Morgan Stanley.
In conjunction with Morgan Stanley, the company formed two securities joint venture companies in May 2010 to integrate their respective Japanese securities companies. The company converted the wholesale and retail securities businesses conducted in Japan by Mitsubishi UFJ Securities into Mitsubishi UFJ Morgan Stanley Securities. Morgan Stanley contributed the investment banking operations conducted in Japan by its former wholly-owned subsidiary, Morgan Stanley Japan, to Mitsubishi UFJ Morgan Stanley Securities, and converted the sales and trading and capital markets businesses conducted in Japan by Morgan Stanley Japan into an entity called Morgan Stanley MUFG Securities, Co., Ltd. The company holds a 60% economic interest in both Mitsubishi UFJ Morgan Stanley Securities and Morgan Stanley MUFG Securities, while Morgan Stanley holds a 40% economic interest in both entities. The company holds a 60% voting interest in Mitsubishi UFJ Morgan Stanley Securities, and Morgan Stanley holds a 40% voting interest in that entity. In Morgan Stanley MUFG Securities, the company holds a 49% voting interest, and Morgan Stanley holds a 51% voting interest. Morgan Stanley’s and the company's economic and voting interests in the securities joint venture companies are held through intermediate holding companies. The company has retained control of Mitsubishi UFJ Morgan Stanley Securities and accounts for its interest in Morgan Stanley MUFG Securities under the equity method due to its significant influence over that entity. The board of directors of Mitsubishi UFJ Morgan Stanley Securities has fifteen members, nine of whom are designated by the company and six by Morgan Stanley. The board of directors of Morgan Stanley MUFG Securities has ten members, six of whom are designated by Morgan Stanley and four by the company. The CEO of Mitsubishi UFJ Morgan Stanley Securities is designated by the company and the CEO of Morgan Stanley MUFG Securities is designated by Morgan Stanley.
The company has also expanded the scope of its global strategic alliance with Morgan Stanley into other geographies and businesses, including a loan marketing joint venture that provides clients in the United States with access to the world-class lending and capital markets services from both companies; business referral arrangements in Asia, Europe, the Middle East and Africa, covering capital markets, loans, fixed income sales and other businesses; global commodities referral arrangements whereby MUFG Bank and its affiliates refer clients in need of commodities-related hedging solutions to certain affiliates of Morgan Stanley; and an employee secondment program to share best practices and expertise in a wide range of business areas.
In July 2023, the company jointly announced with Morgan Stanley the launch of ‘Alliance 2.0’, an enhanced Global Strategic Alliance for further collaboration between both companies for the next decade and beyond. As part of this alliance, the company and Morgan Stanley began to collaborate in the Japanese stock market research and equity businesses for institutional clients in January 2024 and to collaborate in foreign currency exchange trading in April 2024.
Competition
Japan
The company’s major competitors in Japan include:
Japan’s other major banking groups: Mizuho Financial Group and Sumitomo Mitsui Financial Group;
Government Financial Institutions: Japan Finance Corporation, Japan Post Bank, Development Bank of Japan and Japan Bank for International Cooperation;
Other Commercial Banking Institutions: Resona Bank, SBI Shinsei Bank, regional banks, and credit associations (shinkin banks);
Securities Companies and Investment Banks: Nomura group and Daiwa group; and
Other Internet-Based Banking and Securities Institutions: Rakuten group and SBI group.
Investment Securities
At March 31, 2025, the company’s investment securities were debt securities, such as Japanese national government and Japanese government agency bonds, Japanese prefectural and municipal bonds, foreign government and official institution bonds, corporate bonds, residential mortgage-backed securities, asset-backed securities, and other debt securities; and equity securities, such as marketable equity securities and nonmarketable equity securities.
Supervision and Regulation
In addition to the Companies Act, Japanese banks, including MUFG Bank and Mitsubishi UFJ Trust and Banking, are required to comply with the Banking Law of Japan (the Banking Law).
The company monitors developments that relate to the Dodd-Frank Act and the potential impact of its implementing regulations on its activities inside and outside of the United States.
The MUFG Group is subject to supervision, regulation and examination with respect to the company's U.S. operations by the Board of Governors of the Federal Reserve System (FRB) pursuant to the U.S. Bank Holding Company Act of 1956, as amended, or the BHCA, and the International Banking Act of 1978, as amended, or the IBA, because the company and MUFG Bank are bank holding companies and foreign banking organizations, as defined pursuant to those statutes. The FRB functions as the company's 'umbrella' supervisor under amendments to the BHCA effected by the Gramm-Leach-Bliley Act of 1999.
Under the authority of the IBA, the company’s banking subsidiaries, MUFG Bank and Mitsubishi UFJ Trust and Banking, operate five branches, two agencies, 14 representative offices and two loan production office in the United States. MUFG Bank operates branches in Los Angeles, California; Chicago, Illinois; and two branches in New York, New York; agencies in Houston and Dallas, Texas; and representative offices in Washington, D.C.; Tempe, Arizona; Menlo Park, Redwood City, San Diego, Century City, and San Francisco, California; Danbury, Connecticut; Atlanta, Georgia; Covington, Kentucky; Boston, Massachusetts; Jersey City, New Jersey; Irving, Texas; and Seattle, Washington, and two loan production offices licensed by the Office of the Comptroller of the Currency (the OCC), one of which is in Tampa, Florida, with the other in Walnut Creek, California. Mitsubishi UFJ Trust and Banking operates a branch in New York, New York.
The company has continuously developed internal procedures and processes that comply with the regulatory requirements under the Foreign Account Tax Compliance Act (FATCA).
The company is disclosing the following information pursuant to Section 13(r) of the Securities Exchange Act of 1934 (Exchange Act), which requires an issuer to disclose whether it or any of its affiliates knowingly engaged in certain activities, transactions or dealings relating to Iran or with natural persons or entities designated by the U.S. government under specified Executive Orders.
History
Mitsubishi UFJ Financial Group, Inc. was founded in 1880. The company was incorporated in 2001.
