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’MUFG buys 9.9% stake in Aberdeen
Mitsubishi UFJ Group has bought a 9.9% stake in Aberdeen Asset Management, the Scottish fund manager, as part of a strategic alliance with Japan’s largest financial group. The purchase is being made through Mitsubishi UFJ Trust Bank,
Quid pro quo, MUFG
I bail you out, you help me out.
From the FDIC:
The New York State Banking Department and the Federal Deposit Insurance Corporation (FDIC) today announced the lifting of a 2006 order to cease and desist issued upon consent with Bank of Tokyo-Mitsubishi UFJ Trust Company.
MUFG finalises stake in Morgan Stanley
Just a week after reconstituting itself as a bank holding company, Morgan Stanley announced details of the deal that will see Mitsubishi UFJ (MUFG), the Japanese banking group, acquire 21% of the company’s stock for $9bn.
Morgan Stanley flogs a chunk to Mitsubishi UFJ
For those keeping track, Morgan Stanley has agreed to sell a 21 per cent equity stake to MUFG, Japan’s largest bank, for a cool $9bn.
This isn’t exactly new – MUFG said last week it would take a stake of up to 20 per cent – but what’s interesting is the market response.
How to say ‘no’ – er, ‘yes’ – in Japanese
The Japanese art of denial is even more multi-layered and delicately nuanced than the art of apology. Often, “yes” can mean “no” and vice versa, as Alyssa on Tokyomango points out on YouTube.
US banks turn to Japan for help
Mitsubishi UFJ said Monday it had agreed to take a stake of up to 20% in Morgan Stanley, in a deal potentially worth $9bn, becoming the latest Japanese bank to benefit from the turmoil in western markets.
Morgan Stanley and the MUFG punter
How’s this for a wonky bit of deal-making. In confirming that it wants to buy a stake of up to 20 per cent in former investment bank Morgan Stanley, Japan’s Mitsubishi UFJ Financial said on Monday that it believes the target company is worth $31 a share,
Korea military fund may back Lehman bid
South Korea’s Military Mutual Aid Association, a military pension fund, said Wednesday it might consider a joint investment in Lehman Brothers with state-run Korea Development Bank, reports the FT. But the fund said it has yet to receive a proposal from KDB,
MUFG close to $3.5bn deal for California bank
Mitsubishi UFJ Group is set to take 100% control of Union Bank of California in a $3.5bn takeover that would mark the second-largest overseas acquisition by a Japanese financial institution this year. The move comes after Union Bank shareholders forced MUFG to raise its offer price.
MUFG to buy out UnionBanCal for $3bn
Mitsubishi UFJ Group on Tuesday offered $3bn to buy the remaining 35% in Union Bank of California it does not already own, in a move aimed at giving Japan’s largest lender a greater presence in the US.
Subprime losses weigh on MUFJ profits
Mitsubishi UFJ Financial Group, Japan’s largest bank, posted a bigger-than-expected 71% rise in Q4 profit on a rebound at its consumer credit unit, but forecast virtually no growth this year as it copes with a sluggish economy and more subprime losses,
Subprime losses batter Japan’s banks
Japan’s three biggest banks have lost a total of Y499bn ($4.7bn) as a result of exposure to US subprime mortgage products and other structured securities. Results published this week show the crisis has so far cost Mitsubishi UFJ Group Y55bn,
Japan unnerved by latest subprime fears
Shares in Japan’s largest banks fell sharply on Wednesday on concerns about their subprime exposure, as analysts warned of further writedowns across the Asian banking sector – though on a far more limited scale than in the US and Europe.
MUFG injects Y120bn into credit card unit
Mitsubishi UFJ Financial Group, Japan’s largest bank, is injecting Y120bn ($1bn) into MUFJ Nicos, its consumer finance and credit card subsidiary, in a far-reaching restructuring of its credit card and consumer finance businesses.