Mitsubishi UFJ Financial Group trades at a fraction it traded separately before the bubble burst!
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Since then, shares of Sony and Mitsubishi UFJ have gone up 15% and 19%, respectively.
Hit by financial troubles, the lender became subsidiary of financial giant Mitsubishi UFJ Financial in December.
They are, from the top, Mitsubishi UFJ, MitsuiSumitomo, Mizuho, Resona, Sumitomo Trust, and ChuoMitsui Trust.
Just take a look at a Japanese super bank Mitsubishi UFJ Financial group (NYSE:MTU).
Japan's Mitsubishi UFJ and Morgan Stanley decided to merge their Japanese securities units, creating one of Japan's biggest brokers.
The bank holding company trades on the New York Stock Exchange but is majority-owned by Japan's Bank of Tokyo-Mitsubishi UFJ.
"Expectations of a U.S. economic recovery are strong, " said Daisaku Ueno, senior foreign exchange strategist at Mitsubishi UFJ Morgan Stanley.
The stocks of Mitsubishi UFJ Financial Group (NYSE:MTU) are up 65% and those of Sumitomo Mitsui Financial Group (NYSE:SMFG) up 75%.
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Mitsubishi UFJ took JPY 8.4 billion and MitsuiSumitomo JPY 7.2 billion fewer provisions than in the previous period, thus boosting current period relative performance.
So if Mitsubishi UFJ has converted to common stock, I would be looking at this very carefully and wondering why this was agreed to.
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It is reported that the transaction is being funded entirely by loans from four banks: Mizuho Financial, Sumitomo Mitsui Financial, Mitsubishi UFJ and Deutsche Bank.
"It's a question of the BOJ showing that it is being considerate" to JGB market participants, said Mitsubishi UFJ Morgan Stanley Securities strategist Katsutoshi Inadome.
"The Nikkei moves are leading yen moves, because my sense is that's where positions are bigger, " said Derek Halpenny, analyst at Bank of Tokyo-Mitsubishi UFJ in London.
Last week Mitsubishi UFJ Financial Group (MUFG) converted 385 million shares of Morgan Stanley (MS) preferred shares to common, making MUFG a 22.4 percent owner of the U.S. investment bank.
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Last month, facing sharp drops in their stock prices, Morgan Stanley and Goldman Sachs sought the safety of bank holding company status, and got injections of capital from Japan's Mitsubishi UFJ and Warren Buffett, respectively.
Financials also bounced after losses earlier in the week, with Nomura Holdings rising 4.7% and Mitsubishi UFJ Financial Group rising 2.7% in Tokyo, Commonwealth Bank of Australia gaining 0.8% and Chinatrust Financial Holding climbing 2.4% in Taipei.
"The biggest reason for the decline in gross domestic product (GDP) is external demand was weak and domestic demand did not recover as quickly as we thought, " said Shuji Tonouchi of Mitsubishi UFJ Morgan Stanley Securities in Tokyo.
As for consumer finance, the drop in gross profits was due mainly from lower loans balances from the two main vehicles ACOM (down from JPY 1.20 trillion to 1.01 trillion) and Mitsubishi UFJ Nicos (JPY 0.94 trillion to 0.76 trillion).
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Mitsubishi UFJ Financial Group Inc.
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Among the largest underlying components of VPL, in trading today Toyota Motor Corp ( NYSE: TM) is down about 0.5%, Westpac Banking Corp ( NYSE: WBK) is up about 1.3%, and Mitsubishi UFJ Financial Group Inc ( NYSE: MTU) is lower by about 0.3%.
Looking across the group by business entity, the biggest profit contributor by far was the bank, Bank of Tokyo Mitsubishi UFJ (BTMU), operating inside and outside Japan under its own brand, with profits of JPY 639.2 billion, up JPY 296.5 billion, or a whopping 87 percent YOY.
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Third, the financial industry, and the major investment houses, in particular, are facing reputation issues that take time to repair, especially in the face new issues like the LIBOR scandal just take a look at Nomura Holdings (NYSE:NMR) and Mitsubishi UFJ (NYSE:MTU), which trade at a fraction of their 1989 all time highs.
Chief Executive James Gorman took to sending out a memo to employees this week in an effort to reassure the rank-and-file, and Mitsubishi UFJ Financial, which owns 22% of the company by way of an investment back during the dark days of the 2008 crisis, issued its own vote of confidence.
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It is to buy the megabanks, particularly Mitsubishi Tokyo UFJ Financial Group (NYSE: MTU).
And by creating credible, transparent prices, it would at last encourage investors to come in and repair the financial system: this week Warren Buffett and Japan's Mitsubishi-UFJ agreed to buy stakes in Goldman Sachs and Morgan Stanley.
Last year Mitsubishi-Tokyo UFJ, operating through the 100 percent subsidiary Union Bank of California, captured 13 percent of this business, placing it in first place.
UFJ, about to be taken over by Mitsubishi Tokyo, has been one of the slowest to show improvement - one reason why its future owner's share price lagged so badly, pushing it out of the BBC Global 30 index.
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