UFJ Holdings Inc. said Wednesday it has filed an appeal against a court order to suspend its merger negotiations with Mitsubishi Tokyo Financial Group Inc., stressing it plans to go ahead with the merger.
The move by UFJ, Japan's fourth-biggest banking group, came on the heels of a temporary injunction issued Tuesday by the Tokyo District Court, blocking the sale of UFJ's trust bank unit to MTFG.
The injunction came after Sumitomo Trust & Banking Co. had filed a petition claiming this was a breach of UFJ's agreement made in May to sell the unit to Sumitomo Trust.