Everything about The Mitsubishi Trust And Banking Corporation totally explained
is the trust banking arm of the
Mitsubishi UFJ Financial Group (MUFG), a Japanese
financial services company which is the largest in the world measured by
assets. The bank's headquarters are in
Tokyo,
Japan.
The merger of
Mitsubishi Tokyo Financial Group (MTFG) and
UFJ Holdings on
October 1 2005 was followed by the merger of their respective trust banking subsidiaries (
The Mitsubishi Trust and Banking Corporation and
UFJ Trust Bank), creating Mitsubishi UFJ Trust and Banking Corporation.
The Mitsubishi Trust and Banking Corporation
was a
Japanese trust bank, and a member of the
Mitsubishi Tokyo Financial Group.
On October 1,
2005, the company merged with
UFJ Trust Bank to form
Mitsubishi UFJ Trust and Banking Corporation.
UFJ Trust Bank Limited
UFJ Trust Bank Limited (UFJ信託銀行) was a Japanese bank.
The bank was founded in
1959 as the Toyo Trust & Banking Co. (東洋信託銀行). In
2001, Toyo Trust become a subsidiary of
financial services conglomerate
UFJ Holdings. The bank was renamed
UFJ Trust Bank Limited in
2002 to reflect its new parent company's identity.
On
October 1,
2005, coinciding with the acquisition of
UFJ Holdings by the
Mitsubishi Tokyo Financial Group, UFJ Trust merged with
The Mitsubishi Trust and Banking Corporation to form the
Mitsubishi UFJ Trust and Banking Corporation.
History
The financial group dates back to
1919, when the Mitsubishi Bank was founded to finance the
Mitsubishi zaibatsu, most of which is today
Mitsubishi Heavy Industries.
In July
2004, Japan's fourth-largest financial group
UFJ Holdings offered to merge with MTFG. The merger of the two bank holding companies was completed on
October 1,
2005. UFJ was created from a merger with the Toyo Trust, a part of the Toyota Motor Corporation. Toyota's chairman sat on the board of the UFJ which became one of the world's largest money losing corporations. The UFJ was accused of corruption and making bad loans to the yakuza crime syndicates. The UFJ is one of the largest shareholders of Toyota. The trust banking and securities units of the two groups were merged on the same day. The core banking units of MTFG and UFJ,
The Bank of Tokyo-Mitsubishi, Ltd. and
UFJ Bank, respectively, continued to operate separately until
January 1,
2006, when they were merged to form
The Bank of Tokyo-Mitsubishi UFJ, Ltd..
UFJ Holdings, Inc.
, or
UFJ, was the weakest among the four major banking groups in
Japan. "UFJ" is an abbreviation of "United Financial of Japan". This entity emerged from the global merger between Sanwa Bank Ltd. and Tokai Bank and Trust. In 2001 these institutions also merged their U.S. subidiaries, Sanwa Bank California and Tokai Bank and Trust, both in Los Angeles, to form United California Bank (UCB). One year later, as the Japanese economy descended deeper into recession and bad loan losses mounted, UFJ sold UCB to BNP Paribas, effectively withdrawing from the United States.
UFJ is one of the largest share holders of Toyota. The Chairman of Toyota was a director on its board during the reports of financial scandals and indictments of three UFJ executives. Then after being one of the world's losing corporations, on
October 1 2005, it was merged with the
Mitsubishi Tokyo Financial Group to form the
Mitsubishi UFJ Financial Group.
Shareholders
Further Information
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