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Topic: UFJ Bank

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	Mitsubishi UFJ Financial Group - Wikipedia, the free encyclopedia
		The core banking units of the group, Bank of Tokyo-Mitsubishi and UFJ Bank, were merged on January 1, 2006 to form The Bank of Tokyo-Mitsubishi UFJ, Ltd. This integration was originally scheduled to take place on October 1, 2005, the same day that the parent companies were merged.
		The trust banking and securities units of MTFG and UFJ were merged according to the original schedule on October 1, 2005.
		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..
	en.wikipedia.org /wiki/Mitsubishi_UFJ_Financial_Group (750 words)

	GLOCOM Platform - Debates
		UFJ Bank, one of Japan's four so-called megabanks, was prosecuted by the Tokyo District Prosecutors' Office at the request of the Financial Services Agency on charges of covering up financial data with the intention to make the bank's bad loans smaller than they actually were during inspection by FSA regulators last year.
		The main banks that had lent massively to their protege firms during the bubble years found it difficult to withdraw support when those corporations suffered from the slump and were unable to repay the loans.
		Daiei, for which UFJ Bank is the main bank owning 400 billion yen ($3.7 billion) in nonperforming loans to the company, is a symbol of the dysfunction of the main bank system.
	www.glocom.org /debates/20041028_ishizuka_postwar/index.html (978 words)

	The Bank of Tokyo-Mitsubishi UFJ - Wikipedia, the free encyclopedia
		) (NYSE: MTU), or BTMU, is a Japanese bank that was established on January 1, 2006, with the merger of The Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Limited.
		On January 1, 2006, the bank was merged with UFJ Bank Limited to form The Bank of Tokyo-Mitsubishi UFJ, Ltd..
		The Bank of Tokyo-Mitsubishi merged with UFJ Bank Limited, forming The Bank of Tokyo-Mitsubishi UFJ, Ltd. (Note: The UFJ was formed from a merger with Toyota's Toyo Trust and Banking).
	en.wikipedia.org /wiki/Mitsubishi_Bank (413 words)

	UFJ Bank Limited v. Ieda
		UFJ appeals from the December 10, 2002 final judgment entered in favor of the defendants pursuant to the August 26, 2002 order granting the defendants' motion to dismiss and denying UFJ's motion for partial summary judgment.
		UFJ argued that it was entitled to summary judgment, as a matter of law, because there was no genuine dispute as to any material fact that (1) Ieda had given a valid Guaranty of KKLW's obligations to UFJ and (2) KKLW was now in default on those obligations.
		We note that, in dismissing UFJ's complaint, the circuit court also relied upon HRS § 603-37.5, which provides the mechanism by which civil cases "laying venue in the wrong circuit" can be transferred, or in the interest of justice, allows the circuit court to dismiss the case.
	www.hawaii.gov /jud/opinions/sct/2005/25549.htm (4193 words)

	2003 JAPAN LAW (Site not responding. Last check: 2007-10-30)
		UFJ like all of these banking groups, was riddled with massive levels of bad loans.
		UFJ was the main financier of the group which was one of the walking zombies of the 1990s.
		UFJ was also established in 2001 as a result of a merger between Tokai Bank, Sanwa Bank and Toyo Trust and Banking.
	www.japanlaw.info /law2004/JAPAN_LAW_2004_BANKS_UFJ_SKULLDUGGERY_MERGES_WITH_MTFG.html (1092 words)

	Rival stirs up monster Japan bank takeover / UFJ Holdings gets $29 billion Sumitomo bid
		UFJ said Aug. 12 that it had reached a basic agreement to be taken over in October by its preferred bidder, the Mitsubishi Tokyo Financial Group, Japan's second-largest bank.
		The bank that takes over UFJ will emerge as the world's largest lender, as measured by assets, and the leader in Japanese finance, just as the outlook for the sector is improving with the country's most vibrant recovery in a decade.
		UFJ announced it was entering merger talks with Mitsubishi Tokyo last month, but the talks were soon hung up by a legal challenge from Sumitomo Trust and Banking, a company with ties to Sumitomo Mitsui.
	www.sfgate.com /cgi-bin/article.cgi?file=/chronicle/archive/2004/08/25/BUG1J8DN4U1.DTL&type=business (733 words)

	Asia Times Online - The trusted news source for information on Japan
		UFJ is exposed to a number of large companies that are deeply in debt.
		UFJ is also still holding large loans from the government, extended during a bank crisis in which Japan actually nationalized some banks.
		UFJ would have to cut its bad loans sharply to meet FSA goals, which were set by Economy Minister Heizo Takenaka.
	www.atimes.com /atimes/Japan/FG16Dh04.html (1071 words)

	Boston.com / News / World / Asia / Japanese Bank UFJ Seeks Rescue Takeover (Site not responding. Last check: 2007-10-30)
		UFJ Holdings, Japan's fourth-biggest bank, said on Wednesday it was seeking a takeover by bigger rival Mitsubishi Tokyo Financial Group (MTFG) in a rescue that would create the world's biggest banking group.
		UFJ said it aimed to reach a basic agreement with MTFG by the end of the week.
		UFJ, burdened with 3.95 trillion yen ($36.47 billion) in bad loans, has been the odd one out among Japan's major banks, most of which showed their first profits in three years in the 2003/04 business term that ended in March.
	www.boston.com /news/world/asia/articles/2004/07/14/japanese_bank_ufj_seeks_rescue_takeover (699 words)

	Foreign Exchange Bank Dealers
		UFJ Bank Limited - headquartered in Tokyo, is one of Japan's major city banks in Japan.
		UFJ International plc ("UFJI") is the London-based global investment banking arm of UFJ Bank Limited of Japan, one of the world's largest banking institutions.
		UFJ Bank Limited is a subsidiary of UFJ Holdings Inc. UFJI was formed by the merger of Sanwa International plc ("SIL") and Tokai Bank Europe plc ("TBE").
	www.forexlisting.com /bank_dealers_9.asp (1388 words)

	CNN.com - UFJ down again on risk report - Nov. 18, 2002
		Shares in Japanese bank UFJ Holdings are down another 8 percent to a record low of 90,900 yen in early trade Tuesday after a report it planned to step up its risk-reduction plan.
		UFJ is regarded as the weakest of Japan's big four banks, behind Mitsubishi Tokyo Financial Group, Sumitomo Mitsui Banking Corp. and Mizuho Holdings.
		UFJ Holdings has seen its shares plunge to a succession of record lows in recent days on concerns that tough government action to get banks to reduce their bad loans could hit its balance sheet.
	archives.cnn.com /2002/BUSINESS/asia/11/18/japan.ufj.biz (376 words)

	ABC News: Bank of Tokyo-Mitsubishi UFJ Debuts (Site not responding. Last check: 2007-10-30)
		Mitsubishi UFJ Financial Group, the world's largest by assets at around 190 trillion yen, ($1.6 trillion), posted strong earnings results in November due to lower bad-loan write-off costs, and said it expected to post a group net profit of 520 billion yen ($4.4 billion) for the fiscal year through March 31, 2006.
		Other banks also posted healthy results, the latest indication that Japan's financial sector is on the mend after years of losses writing off mountains of non-performing loans that piled up during the slowdown that started in the early 1990s.
		But the banks could face tough competition when the government's plan to start privatizing the postal system which has 330 trillion yen ($2.80 trillion) in savings and issuance deposits and 24,700 offices around the country comes into full swing this year.
	abcnews.go.com /Business/wireStory?id=1460298&CMP=OTC-RSSFeeds0312> (349 words)

	Investor's Business Daily: Breaking News
		UFJ said it was considering the proposal, but that its "basic stance" was that it aimed to merge with MTFG.
		Banking analysts say a hostile takeover attempt is unlikely to succeed, given UFJ's shareholder structure and the relatively small amount of its shares that trade on the open market.
		UFJ Holdings, comprising UFJ Bank and UFJ Trust Bank, is the smallest of Japan's big four banks, with total assets of 82 trillion yen.
	www.investors.com /breakingnews.asp?journalid=22610598&brk=1 (656 words)

	CNN.com - Japan's mega-banks eye merger - Jul 14, 2004
		UFJ is regarded as the weakest of the big four Japanese banking groups.
		UFJ is the weakest of Japan's big four banking groups, and has been struggling to clean up its balance sheet.
		UFJ is bid-only at its upper limit of 522,000 yen, after last trading at 472,000 yen.
	edition.cnn.com /2004/BUSINESS/07/14/japan.banks/index.html (563 words)

	Morrison & Foerster : Legal Updates & News : Legal Updates : An Assessment of the UFJ Merger and Integration Protective ...
		UFJ is a holding company that, prior to the commencement of transaction discussions, held 100% of the shares of UFJ Bank, a company registered under the banking laws of Japan to conduct the primary banking business of UFJ, and which accounts for approximately 80% of UFJ's revenues.
		On September 10, UFJ announced the terms of a 700 billion yen capital injection by MTFG into UFJ Bank in exchange for the issuance of a new class of Series E Preferred stock of UFJ Bank (the "Series E Preferred").
		Because UFJ Bank needed substantial new funds by the end of September to meet its capital requirements, and because there was likely no market for the required financing, [fn5] it is nearly impossible to quantify the portion of the premium, if any, that represents a breakup fee, as opposed to compensation for MTFG's capital commitment.
	www.mofo.com /news/updates/files/update1422.html (3557 words)

	UFJ Bank and Hitachi Sign Basic Agreement for IT Outsourcing
		UFJ Bank will sell software assets* to Hitachi Capital Corporation (President and Representative Director: Kaichi Murata), which Hitachi will then lease for use in its outsourcing business and for facilitating business to other banks.
		UFJ Bank has achieved the planning, development and operation of the systems by itself and its subsidiaries.
		UFJ Bank Limited, a wholly owned subsidiary of UFJ Holdings, Inc., is the core company of the UFJ Group, one of the four leading financial groups in Japan.
	www.japancorp.net /Article.Asp?Art_ID=3385 (960 words)

	CNN.com - UFJ sets historic low amid bank fears - Oct. 4, 2002
		Bank stock UFJ Holdings hit a historic low on Friday, as investors brace for tougher steps to deal with Japan's banks.
		UFJ, the smallest of Japan's Big Four banks, is one of the creditors of debt-heavy companies such as retailer Daiei Inc. and home builder Misawa Homes Co.
		UFJ fell a record 14.9 percent on Thursday and continued that decline despite a broader rally on Friday.
	www.cnn.com /2002/BUSINESS/asia/10/04/japan.ufj/index.html (393 words)

	Oligopoly Watch
		Two of Japan's largest banks, #2 Mitsubishi Tokyo Financial and #3 Sumitomo Mitsui Banking are fighting to merge with #4 UFJ Holdings.
		Banks like Citigroup and Bank of America are looking abroad, and they have the funds.
		The bank is the fifth-largest bank in China, having 2,700 branches around China.
	www.oligopolywatch.com /2004/08/02.html (628 words)

	BBC NEWS \| Business \| Prosecutors raid Japan's UFJ bank
		The prosecutors are probing allegations that UFJ held back information on the financial health of some ailing corporate borrowers during an inquiry last year into bad loans accumulated by Japan's banks.
		Osaka based UFJ is the smallest of Japan's "Big Four" banks, and the only one yet to recover from the impact of hefty bad loans built up during Japan's 1980s boom.
		The bank reported a loss of 402 billion yen in its most recent financial year, prompting the resignation of senior executives.
	news.bbc.co.uk /1/hi/business/3725554.stm (253 words)

	Triangle Technologies Ltd. - News/Events - Press Releases
		UFJ Card’s Verified by Visa program, is one of the first large scale commercial implementations of Visa’s new program in Japan.
		UFJ Card is the card division of UFJ Bank, created through the merger of Sanwa bank and Tokai bank.
		UFJ Bank is considered one of Japan’s “Big Four” banks, and as one of the world’s largest financial institutions, with over $700 billion in assets in 2001.
	www.triangletech.com /html/inthenews/news12.html (451 words)

	stocks, shares, news, FTSE, online trading - Interactive Investor (Site not responding. Last check: 2007-10-30)
		UFJ Bank issued the statement following a news report saying the bank asked Toyota to buy newly issued shares giving Japan's top carmaker a 49 pct stake in Misawa Homes, the country's second-largest builder of prefabricated homes.
		It also said: "We have not been asked by the Misawa Home group for financial assistance either." Separately, however, a spokesman for UFJ Holdings, the parent of UFJ Bank, said the bank "may be studying that plan as one of various measures for restructuring" Misawa Homes, a major borrower of UFJ Bank.
		UFJ Holdings, Japan's fourth-largest lender, is under pressure to slash its bad loans, which totaled 4.62 trln yen as of last March 31, by two-thirds by next March to meet a government-set target.
	www.iii.co.uk /shares/?type=news&format=raw&articleid=5052341&action=article (760 words)

	Business News: Prosecutors Conduct Raid of Troubled Japanese Bank (Site not responding. Last check: 2007-10-30)
		Japanese prosecutors raided the Tokyo headquarters of UFJ Bank Friday, one day after a criminal complaint was filed against the embattled institution.
		Japanese banking authorities accuse UFJ of attempting to hide the true extent of its financial debt.
		UFJ Bank plans to merge with Mitsubishi Tokyo Financial Group, which has already injected millions of dollars into the bank to keep it afloat.
	www.axcessnews.com /business_100804a.shtml (320 words)

	Investor's Business Daily: Breaking News
		Japan's fourth-largest lender UFJ Bank (83078307)(UFJHF) has asked Toyota Motor (72037203)(TM) to take an equity stake of as much as 49 percent in the core unit of Misawa Homes Holdings (17221722)(MWHHF), the Nihon Keizai Shimbun reported.
		UFJ has been seen as stepping up its efforts to turn around troubled borrowers such as Misawa ahead of the planned merger with Mitsubishi Tokyo Financial Group (83068306)(MTF) by October 2005.
		UFJ is implementing a 30 billion to 40 billion yen ($273 million to $364 million) financial assistance package for Misawa that includes debt-for-equity swaps, the report said.
	www.investors.com /breakingnews.asp?journalid=22711445&brk=1 (583 words)

	Three Former UFJ Bank Executives Arrested (Site not responding. Last check: 2007-10-30)
		Meanwhile, a raid by prosecutors of the bank's Tokyo headquarters that began early Wednesday was ongoing.
		The FSA had reprimanded the bank last year after discovering that some companies receiving loans from UFJ were worse off than the bank had led regulators to believe.
		In July, UFJ Bank acknowledged its executives had conspired to conceal information about corporate borrowers and falsified documents, prompting expectations of a criminal investigation.
	www.investmentsmagazine.com /ManageArticle.asp?C=160&A=10017 (283 words)

	CNN.com - UFJ completes $2.4B U.S. bank sale - March 18, 2002
		UFJ, one of Japan's big four banking groups, announced on December 10 it was selling the bank to a BNP Paribas unit, BancWest Corporation.
		UFJ retained its forecast of a 600 billion yen ($4.6 billion) consolidated net loss for the year through March 31, as profit from the sale was factored in when the projection was made.
		United California Bank, which earned $121 million last financial year, was created last July through the merger of the California units of Sanwa Bank and Tokai Bank.
	www.cnn.com /2002/BUSINESS/asia/03/18/japan.ufj.biz/index.html (258 words)

	Bloomberg.com: Asia
		UFJ is selling UFJ Trust Bank Ltd. to raise at least 300 billion yen to cover loan losses after regulators told the bank it underestimated bad debt at its biggest corporate clients.
		UFJ said last month it increased bad-loan costs to about 813 billion yen at its two main units from the 500 billion yen it had forecast, after the inspection by regulators.
		UFJ's capital adequacy ratio declined to 9.24 percent from 11.36 percent at the end of September, the bank said.
	quote.bloomberg.com /apps/news?pid=10000080&sid=aaGngkXcdsmM&refer=asia (938 words)

	Bloomberg.com: Top Worldwide (Site not responding. Last check: 2007-10-30)
		UFJ, the only one of Japan's top four banks likely to report a loss for the year ended March 31, said it's too soon to give details on the sale, which the Nihon Keizai said may be completed in Japan's fall.
		UFJ Trust President Yasukuni Doi, 60, and UFJ Holdings President Takeshi Sugihara, 59, plan to resign next week, as part of a shakeup at the banking group because of the unexpected loss, people familiar with the situation said yesterday.
		UFJ revised its 210 billion yen profit estimate for the group to 78 billion yen in profit in April.
	quote.bloomberg.com /apps/news?pid=10000006&sid=awzMfGFT.Ox8&refer=home (951 words)

	BBC NEWS \| Business \| Merger forms world's biggest bank
		UFJ, the smallest of the four, has been keen for some time to join forces with a larger rival.
		Weighed down by bad loans, the bank crashed to a loss of 402bn yen in its most recent financial year, prompting the resignation of senior executives.
		The two banks' branch networks appear to fit well together, with three quarters of MTFG's domestic branches located in eastern Japan, and three in five of UFJ's in the west and centre.
	news.bbc.co.uk /1/hi/business/3558878.stm (468 words)

	United Financial of Japan Implements WebFOCUS in 500 Offices (Site not responding. Last check: 2007-10-30)
		UFJ Bank is the result of a recent merger between two of Japan's largest financial institutions, Sanwa Bank and Tokai Bank.
		Implemented by Ashisuto, a company that publishes and distributes computer software packages in Japan, WebFOCUS was initially rolled-out at UFJ Bank headquarters in April 2002 and as of June 3, 2002 has been rolled out to all 500 UFJ Bank branch offices.
		UFJ Bank required a business intelligence solution that would not only successfully integrate the two companies' data sources but was easy for the information technology team to learn.
	www.informationbuilders.com /press/07_01_02_ufj.html (476 words)

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