Business / Corporate Jun 20, 2020
Mega-bank MUFG to ban loans to makers of nukes, but not missiles
The bank's revised guidelines don't close the door on nuclear-related businesses that make missiles capable of carrying atomic weapons.
Business / Corporate Apr 28, 2020
In cash-loving Japan, banks still busy despite coronavirus emergency
Elderly customers, a general lack of enthusiasm for electronic money and increased free time see high customer traffic at banks despite stay-at-home requests.
Business / Corporate Apr 26, 2020
MUFG Bank to cut 8,000 jobs by March 2024, up from its initial plan
MUFG Bank, the banking unit of Mitsubishi UFJ Financial Group Inc., plans to slash its domestic workforce by around 8,000 employees by March 2024, expanding on its earlier planned reduction of 6,000, a source said Sunday. The bank will implement the increased labor force reduction, ...
Business Apr 16, 2020
Sumitomo Mitsui and Mizuho to end lending for new coal-fired plants
Sumitomo Mitsui Financial Group Inc. said Thursday it would no longer lend to new coal-fired power plants from May 1, a day after peer Mizuho Financial Group Inc. said it would stop financing new power projects involving the fossil fuel. The policy change comes as ...
Business / Corporate Mar 27, 2020
Toyota requests $9 billion credit line from Japanese mega-banks SMBC and MUFG
Toyota Motor Corp. has asked two mega-banks to set up a credit line of ¥1 trillion ($9.2 billion), company sources said Friday, a move that signals the leading automaker is struggling with rising fundraising costs caused by the coronavirus outbreak. Toyota's financial base remains solid, ...
Business Feb 27, 2020
Bank of Japan asks major lenders about contingency plans following infection at MUFG
The rapid spread of the new coronavirus has prompted the Bank of Japan to ask major banks how prepared they are for a worsening of the outbreak, people with knowledge of the matter said. Initial findings from the talks indicate that large financial institutions are ...
National / Media | MEDIA MIX Feb 22, 2020
Rethinking the need for personal stamps and seals in modern society
by Philip Brasor
Last month, MUFG Bank Ltd. started offering ¥1,000 to each of its first 100,000 customers willing to give up their paper passbooks. MUFG wants people to switch to online banking, which is cheaper for banks — and not just because they can save on ...
Business / Corporate Feb 20, 2020
MUFG Bank launches system development and operations unit in India
MUFG Bank has set up a system development and operations wing in India, with plans to develop it into a unit that supports the bank's business across the Asian and Oceanian regions and elsewhere. MUFG Bank, a unit of Mitsubishi UFJ Financial Group Inc., established ...
Business Feb 11, 2020
The labor union at MUFG Bank plans to scrap its current system of seeking pay scale hikes at a uniform rate for all workers in this year's shuntō labor management talks, it has been learned. Based on a proposal from the management side, the union ...
Business / Corporate Feb 5, 2020
Mitsubishi UFJ Financial Group Inc. has posted its first quarterly loss in a decade and cut its annual profit forecast after booking a hefty charge on its stake in an Indonesian bank. Core lending business slumped in the fiscal third-quarter, covering October to December, underscoring ...