UFJ Holdings Inc. said Monday there is no change in its plan to integrate its operations with Mitsubishi Tokyo Financial Group Inc., despite Sumitomo Mitsui Financial Group Inc.'s rival merger bid.
UFJ, at the center of a rare takeover battle in Japan's banking industry, confirmed it has received a written merger proposal from SMFG.
"Our plan to merge with MTFG has not changed. But we are carefully considering the proposal with outside specialists," UFJ said in a statement.