The newly merged Bank of Tokyo-Mitsubishi UFJ said Wednesday it has erroneously entered the names of up to 3,495 companies and their account numbers into documents it mailed or handed out to 585 unrelated firms.
The core of Mitsubishi UFJ Financial Group Inc. attributed the blunder to a computer program malfunction stemming from the integration of the systems of its premerger component banks, Bank of Tokyo-Mitsubishi and UFJ Bank.
The two component banks merged Jan. 1 with the megabank starting its first business day Jan. 4. On that day, it encountered a minor system glitch that halted about 10 online remittance services.
The documents the bank began distributing Tuesday were compiled to ask corporate depositors to alter their accounts, while reminding them of the name of the just-merged bank. The bank said it was working fast to recover the documents.
"It is unlikely that transfers of funds will take place" as a result of the entry mistake, a bank official said.
Meanwhile, the bank said another computer malfunction occurred Tuesday, preventing it from processing 1,900 transactions for Japanese stocks and other securities for which overseas investors had placed orders.
The transactions could not be processed because its computer system failed to exchange data with the computer system of the Japan Securities Depository Center due to a miscommunication regarding their system settings.
The bank caught up and executed the transactions Wednesday morning, it said, adding the failure did not result from the integration of the computer systems at its premerger components or lead to any financial damage to customers.