Mitsubishi UFJ Financial Group
Posted on July 25, 2008
Filed Under Uncategorized |
Founded in October 1, 2005 and with the merger with the Tokyo-based Mitsubishi Tokyo Financial Group (MTFG), the Mitsubishi UFJ Financial Group was unveiled to the market. With the main office in Chiyoda, Tokyo, the Mitsubishi UFJ Financial Group is Japan’s largest bank by some margin and also the world’s biggest financial institution by asset value. This company is mainly the primary component if the Mitsubishi keiretsu, one of Japan’s foremost business organizations.
Just like any other companies, the Mitsubishi UFJ Financial Group is not spared from experiencing the subprime economic squeeze. Last March 31, 2008, the consolidated net income of the Mitsubishi UFJ Financial Group was ¥636.6 billion, which is a decrease of around ¥240 billion coming from the previous year. This kind of decrease is attributed to the downfall of the gross profits because of economic stability and other external factors. But despite the crisis that the company is experiencing, Mitsubishi UFJ Financial Group still strive to constantly expand their lending and deposit balances and at the same time let the overseas business reach its peak.
The company continuously maintains a balance financial position in order to gain the trust its consumers particularly its patrons. And because of the worldwide economic crisis, the company will continue to perform careful monitoring.
The current situation of the economy has prompted the company to develop new systems that would further enhance the company’s position despite the many hindrances. The company is making a steady development in reinforcing the frameworks in achieving the company’s long-term goals.
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