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February 24, 2025
 

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MUFG

MUFG Bank President Junichi Hanzawa bows in apology in Tokyo on Jan. 17 following alleged massive thefts of customer assets by a former employee.
JAPAN / Crime & Legal
Feb 5, 2025
Ex-MUFG bank worker paid interest to pawnshops to keep gold available to her
The bank worker is suspected of depositing in several pawnshops gold ingots worth several hundred million yen that she had stolen.
MUFG virtually reached its full-year profit goal with a quarter to spare, earning a record ¥1.749 trillion in the first nine months.
BUSINESS / Companies
Feb 4, 2025
MUFG profit soars in bumper earnings season for Japan banks
Japanese banks are benefiting from rising interest rates following more than a decade of ultra-easy monetary policy.
Mizuho Bank is the first to have stopped accepting new safe deposit box customers among the country's three megabanks.
BUSINESS / Companies
Jan 19, 2025
Mizuho stops accepting new safe deposit box applications
The major Japanese bank took the step at all outlets around the country.
MUFG Bank's Nerima branch in Tokyo, where a former employee allegedly stole customer assets from safe deposit boxes
JAPAN
Jan 16, 2025
MUFG Bank punishes execs over customer asset thefts
President Junichi Hanzawa will take a 30% cut in monthly pay for three months.
Former MUFG Bank employee Yukari Imamura, a suspect in the theft of gold ingots worth ¥260 million, leaves the Nerima Police Station in Tokyo on Wednesday.
JAPAN / Crime & Legal
Jan 15, 2025
Ex-MUFG Bank employee arrested over theft of 20 kg gold deposits
At least 60 clients have been victims of the safe deposit box thefts, with the total damage expected to exceed ¥1 billion.
MUFG Bank CEO Junichi Hanzawa (left) and other senior officials bow in apology at a news conference in Tokyo's Chiyoda Ward on Monday.
JAPAN / Crime & Legal
Dec 16, 2024
MUFG Bank apologizes for theft of ¥1 billion in valuables from deposit boxes
The manager accused of the thefts allegedly used backup keys to access the boxes.
Mitsubishi UFJ, Mizuho and Sumitomo Mitsui are enjoying record earnings and they are determined to fund overseas expansion.
BUSINESS / Companies
Dec 10, 2024
Japan's megabanks are flush with cash and hunting overseas deals
The primary focus is on the U.S. and India, respectively the world’s largest economy and the fastest-growing.
Mitsubishi UFJ Financial Group took a 15% stake in WealthNavi earlier this year.
BUSINESS / Companies
Nov 29, 2024
MUFG considering bid for Japanese robo-adviser WealthNavi
MUFG took a 15% stake in WealthNavi earlier this year
The Adani Group headquarters in Ahmedabad, India
BUSINESS / Companies
Nov 29, 2024
Japanese banks stick with Adani as Jefferies and Barclays review ties
Gautam Adani and others have been charged with plotting a $250 million scheme to bribe India government officials to win solar energy contracts.
Mitsubishi UFJ Financial Group is investigating the incident and consulting with the police.
JAPAN / Crime & Legal
Nov 22, 2024
MUFG fires worker over ¥2 billion theft from clients’ safe deposit boxes
The theft by a front-line employee responsible for managing the safe deposit boxes took place at two branches in Tokyo over 4½ years.
Mizuho Financial CEO Masahiro Kihara during a news conference in Tokyo on Nov. 14
BUSINESS / Companies
Nov 14, 2024
Japan’s biggest banks raise profit goals, unveil buybacks
Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group now project a combined ¥3.7 trillion ($24 billion) in profit this fiscal year.
Yasushi Itagaki, head of MUFG’s global commercial banking business, says the banking group aims to push up its buyouts and investment in India, and increase annual returns from them to 20% in 10 years.
BUSINESS / Companies
Nov 11, 2024
MUFG seeks acquisitions in India to drive growth, targeting 20% returns
Japan's largest lender is competing with a slew of global peers to expand in the world’s fastest-growing major economy.
Four Japanese private-sector banks including MUFG Bank will participate in an international demonstration test for cross-border payments using digital currencies led by the Bank for International Settlements.
BUSINESS
Sep 23, 2024
Four Japanese banks participate in digital currency project
MUFG Bank, Sumitomo Mitsui Banking, Mizuho Bank and SBI Shinsei Bank will participate in the project.
An MUFG Bank branch in Tokyo. The bank is stepping up its electronic trading capabilities.
BUSINESS / Companies
Sep 13, 2024
MUFG pushes to bring its trading into electronic age, except JGBs
MUFG is catching up to rivals, vying to become more competitive across fixed income and equities where electronic trading has taken hold.
With the Bank of Japan seen raising rates this year, there are heightened expectations that banks’ profitability will improve.
BUSINESS / Companies
Jul 26, 2024
Expectations high for Japan’s bank results to spur stock rally
Japanese lenders are set to report quarterly results that for the first time fully reflect the end of negative rates next week.
Toyota's plan to buy back shares from major banks and insurers is part of a broader push to unwind strategic shareholdings with financial partners.
BUSINESS / Companies
Jul 23, 2024
Toyota to buy back stock worth $5.2 billion from banks and insurers
Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, Tokio Marine Holdings and MS&AD Insurance Group Holdings are tendering shares at an 11% discount.
Mitsubishi UFJ Financial Group CEO Hironori Kamezawa (center) and other executives bow during a news conference in Tokyo on Friday.
BUSINESS / Companies
Jul 19, 2024
MUFG heads to take pay cut after information firewall breach
21 MUFG officials, including some retired executives, will give up part of their pay after the bank was penalized for the unauthorized sharing of client information.
An MUFG Bank employee allegedly leaked insider information to relatives about a client company.
BUSINESS / Companies
Jul 9, 2024
MUFG bank worker suspected of leaking undisclosed client info
The securities market watchdog suspects the employee of violating financial laws by giving relatives undisclosed information about a client company.
Rapidus, which aims to produce next-generation chips domestically, is building a factory in Hokkaido.
BUSINESS / Companies
Jul 8, 2024
Japanese banks gear up lending for chip-related industries
Lenders have set up specialized teams and are collaborating with regional rivals to aid sectors that might benefit from the emergence of chip factories.
Financial groups will sell Honda Motor shares worth ¥535 billion to unwind cross-shareholdings, according to a regulatory filing.
BUSINESS
Jul 4, 2024
Insurers and banks to sell Honda shares worth $3.3 billion, filing shows
The move offers a sign that the unwinding of cross-shareholdings is catching pace in Japan.
U.S. Marines start to leave Japan, decades behind schedule
U.S. Marines during training in Okinawa last month.
Tokyo fund buys China bonds for first time on Japanification bet
Japanese investors are estimated to have increased holdings of Chinese bonds by 53% last year, the most among the markets that make up the World Government Bond Index, according to Bloomberg analysis of Japanese balance-of-payments data.
Japan's Prince Hisahito to hold first news conference on March 3
Prince Hisahito heads to greet the Emperor and Empress on the occasion of his 18th birthday in Tokyo on Sep. 6.
Ukraine promises swift deal for minerals as Trump cuts Kyiv out of peace talks
A truck carrying partially-refined titanium ore to a factory for further refining at a mine east of Kyiv.
Israel prepares to receive six more Gaza hostages as Bibas body identified
A poster depicting a hostage Omer Wenkert, at the site of the Nova festival where party goers were killed and kidnapped during the Oct. 7 attack by Hamas gunmen from Gaza, in Reim, southern Israel, on Wednesday.
As Ukraine rift emerges, Kyiv's envoy says Japan must take on bigger global role
Ukrainian Ambassador to Japan Sergiy Korsunsky speaks during an interview at the Ukrainian Embassy in Tokyo on Monday.
Japan struggles to fend off a world without enough matcha
Once a boon to tea farmers' bottom lines, the global matcha craze is now pushing producers and distributors to their limits with few options to adequately meet demand.
Shimane and Tottori to bewitch tourists with supernatural charms
In Sakaiminato, Tottori Prefecture, an entire street is dedicated to Japanese spirits, monsters and ghouls — a sign that the overall region is rich in spine-tingling tourist draws.
Japan release of Shiori Ito's documentary in limbo
Shiori Ito, who won a civil suit over a rape case against a TV reporter, in 2018. Her former lawyers claim her documentary includes footage used without the consent of sources.
Abdul Hakim Sani Brown ready to sprint past Paris disappointment
Abdul Hakim Sani Brown (center) runs during a 100-meter heat at the Paris Olympics on Aug. 3, 2024.

Podcast

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Longform

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