Parent Company: Mitsubishi UFJ Financial Group Inc
Brand value: $4,950 million
Headquarter city: Tokyo
Year formed: 2006
Mitsubishi UFJ (MUFJ) is the largest megabank in Japan and one of the biggest banks in the world; it was formed on January 1, 2006, when the Bank of Tokyo-Mitsubishi and UFJ merged. (The bank’s earliest historical antecedent, however, dates all the way back to 1656). Mitsubishi UFJ Bank offers a variety of financial services by combining top companies in financial fields such as commercial banks, trust banks, securities companies, card companies, consumer finance companies, leasing companies, and asset management companies. The company currently operates about 500 consumer branches nationwide, and has weathered Japan’s ultralow interest rate environment better than many of its competitors. The company is currently undertaking a strategic overhaul aimed at streamlining and automating many of its processes, and expects to close up to 100 of consumer branches by 2023. Remaining consumer branches are being revamped according to a “MUFJ NEXT” vision that embraces paperless technologies, convenience, automation, and attractive store design. MUFJ’s sponsorship activities include a partnership with the Japan Philharmonic Orchestra; in the realm of CSR, the bank’s corporate group recently won headlines for announcing a drastic reduction in its financing for coal energy projects. Mitsubishi UFJ Financial Group Inc is listed on the Tokyo and New York Stock Exchanges.