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Gov't mulling ex-UFJ Holdings head as postal savings bank chief

TOKYO, Japan - The government has decided to appoint Hideo Ogasawara (file photo), a former head of UFJ Holdings Inc., the predecessor of Mitsubishi UFJ Holdings Financial Group Inc., to head the bank unit of Japan Post when it is privatized in October 2007, informed sources said June 21.

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MUFG's net profit tops 1 tril. yen, Mizuho logs record profit

TOKYO, Japan - Mitsubishi UFJ Financial Group Inc. President Nobuo Kuroyanagi speaks at a press conference on May 22 on the group's business results for fiscal 2005. The world's largest banking group reported more than 1 trillion yen ($8.87 billion) in consolidated net profit for the year, which saw Mitsubishi Tokyo Financial Group Inc. merged with UFJ Holdings Inc.

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UFJ books 554 bil. yen loss in FY 2004 on hefty credit costs

TOKYO, Japan - UFJ Holdings Inc. President Ryosuke Tamakoshi speaks at a press conference in Tokyo on May 25. The banking group said it incurred a group net loss of 554.53 billion yen in fiscal 2004, worse than the previous year's 402.81 billion yen loss, as it accelerated bad-loan disposal.

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(2)MTFG, UFJ set merger ratio at 1 to 0.62

TOKYO, Japan - Mitsubishi Tokyo Financial Group Inc. President Nobuo Kuroyanagi (L) and UFJ Holdings Inc. President Ryosuke Tamakoshi pose at a press conference in Tokyo on Feb. 18. A new company to be formed through their merger on Oct. 1 will be named Mitsubishi UFJ Financial Group Inc. and rank top in the world in terms of assets.

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(1) MTFG, UFJ set merger ratio at 1 to 0.62

TOKYO, Japan - Mitsubishi Tokyo Financial Group Inc. President Nobuo Kuroyanagi (L) shows off the symbol mark of a new banking group to be formed through a merger between his group and UFJ Holdings Inc. on Oct. 1 at a press conference in Tokyo on Feb. 18. Seated to his right is UFJ Holdings President Ryosuke Tamakoshi.

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UFJ Holdings posts 674 billion yen net loss in fiscal 2004 1st half

TOKYO, Japan - UFJ Holdings Inc. President Ryosuke Tamakoshi speaks in reply to media questions at a press conference in Tokyo on Nov. 24. The company reported a group net loss of 674.28 billion yen in the fiscal first half, a reversal from a 179.85 billion yen profit a year earlier, due to massive bad-loan disposal costs.

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UFJ Holdings to incur 780 bil. yen interim net loss

TOKYO, Japan - UFJ Holdings Inc. President Ryosuke Tamakoshi (L) speaks as UFJ Bank President Takamune Okihara listens at a press conference in Tokyo on Sept. 10. UFJ Holdings said it expects to book a group net loss of 780 billion yen in the April-September first half of fiscal 2004 as it will clean up its books before its planned merger with Mitsubishi Tokyo Financial Group Inc. in October 2005.

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Shinsei Bank buys into UFJ's consumer finance unit Aplus

TOKYO, Japan - Shinsei Bank President Masamoto Yashiro (R) and Aplus President Junji Sugiyama (L) hold a press conference in a Tokyo hotel Sept. 3 on Shinsei purchasing a 67% equity stake in Aplus, a struggling consumer finance affiliate of the UFJ Holdings Inc. banking group, for 35 billion yen later this month.

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Sumitomo Mitsui to continue pushing for merger with UFJ

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Yoshifumi Nishikawa speaks in an interview with Kyodo News in Tokyo on Aug. 25. Nishikawa said the banking group will continue to press ahead with a proposed merger with smaller ailing rival UFJ Holdings Inc.

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UFJ, Mitsubishi Tokyo ink basic accord to merge Oct. 1, 2005

TOKYO, Japan - UFJ Holdings Inc. President Ryosuke Tanmakoshi (L) and Mitsubishi Tokyo Financial Group Inc. President Nobuo Kuroyanagi pose for photos at a press conference in Tokyo on Aug. 12 after signing a basic merger agreement that would clear the way for them to create the largest financial group in the world in October 2005.

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(2)UFJ, Mitsubishi Tokyo ink basic accord to merge Oct. 1, 2005

TOKYO, Japan - UFJ Holdings Inc. President Ryosuke Tamakoshi (L) speaks as Mitsubishi Tokyo Financial Group Inc. President Nobuo Kuroyanagi listens at a press conference in Tokyo on Aug. 12. They signed a basic merger agreement that would create the world's largest financial group in October 2005.

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UFJ admits falsifying dossiers on borrowers' business conditions

TOKYO, Japan - UFJ Bank President Takamune Okihara (C), flanked by is aides, speaks at a press conference in Tokyo on July 28. The bank, a key arm of UFJ Holdings Inc. at the center of a row over its merger plan with Mitsubishi Tokyo Financial Group Inc., admitted it had systemically falsified documents on the business conditions of its large corporate borrowers and submitted them to the Financial Services Agency.

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(2)Mitsubishi Tokyo, UFJ announce merger accord

TOKYO, Japan - (From L to R) Mitsubishi Tokyo Bank Chairman Shigemitsu Miki, Mitsubishi Tokyo Financial Group Inc. President Nobuo Kuroyanagi, UFJ Holdings Inc. President Ryosuke Tamakoshi and UFJ Bank President Takamune Okihara give a joint press conference in Tokyo after signing a memorandum of understanding to launch negotiations with the aim of integrating their operations during the first half of fiscal 2005. The deal will create the world's biggest banking group with total assets of 190 trillion yen, topping the 135 trillion yen of Mizuho Financial Group Inc.

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Mitsubishi Tokyo, UFJ announce merger accord

TOKYO, Japan - (From L to R) UFJ Bank President Takamune Okihara, UFJ Holdings President Ryosuke Tamakoshi, Mitsubishi Tokyo Financial Group Inc. President Nobuo Kuroyanagi and Mitsubishi Tokyo Bank Chairman Shigemitsu Miki pose for photos after announcing an agreement on their management integration at a press conference in Tokyo on July 16.

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UFJ positive about adopting U.S.-style governance

OSAKA, Japan - New UFJ Bank President Takamune Okihara (R) speaks at a press conference in Osaka on June 1, flanked by Chairman Ryosuke Tamakoshi. Okihara said that UFJ Holdings Inc. is positive about adopting a U.S.-style system of corporate governance to improve the financial group's management.

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Toyota may consider assisting UFJ, Okuda indicates

TOKYO, Japan - Toyota Motor Corp. Chairman Hiroshi Okuda speaks in an interview with a group of reporters in Tokyo on May 25. He indicated Toyota may consider assisting struggling banking group UFJ Holdings Inc. if requested.

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UFJ Holdings reports 402 bil. yen net loss for FY 2003

TOKYO, Japan - UFJ Holdings Inc. President Takeshi Sugihara briefs reporters on the UFJ group's earnings report for fiscal 2003 at the head office of the Bank of Japan in Tokyo on May 24.

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3 top UFJ group executives to resign

TOKYO, Japan - Three new top executives of the UFJ financial group stand during a news conference at the head office of the Bank of Japan in Tokyo on May 23. UFJ Trust Bank Vice President Shintaro Yasuda (L) will replace Yasukuni Doi as president, Takamune Okihara (C), a senior corporate officer of UFJ Bank, will succeed UFJ Bank President Masashi Teranishi and UFJ Bank Vice President Ryosuke Tamakoshi will become president of UFJ Holdings Inc. to replace Takeshi Sugihara.

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(2)3 UFJ execs to resign for failure to reach profit targets

TOKYO, Japan - File photo shows UFJ Bank Vice President Ryosuke Tamakoshi who will replace Takeshi Sugihara as president of UFJ Holdings Inc.

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(1)3 UFJ execs to resign for failure to reach profit targets

TOKYO, Japan - The three top managers of the UFJ group will resign to take the blame for its failure to meet net profit goals, banking sources said May 19. Files photos show (from L to R) UFJ Holdings Inc. President Takeshi Sugihara, UFJ Bank President Masashi Teranishi and UFJ Trust Bank President Yasukuni Doi.

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UFJ Holdings net profit soars 147.9% in 1st half

TOKYO, Japan - UFJ Holdings Inc. President Takeshi Suguhara speaks at a news conference in Tokyo on Nov. 25. The holding firm said its group net profit for the six months to Sept. 30 soared 147.9% from a year earlier to 179.85 billion yen with operating revenues up 4.4% to 1,218.21 billion yen.

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UFJ Holdings stays in red on stock losses, bad-loan disposals

TOKYO, Japan - Takeshi Sugihara, president of UFJ Holdings Inc., speaks to reporters at the head office of the Bank of Japan in Tokyo on May 26 about UFJ's earnings report for fiscal 2002 through March 31.

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UFJ cuts earnings forecast, seeing net loss of 650 bil. yen

TOKYO, Japan - Toshihide Mizuno, a UFJ Holdings Inc. director, speaks to reporters about the UFJ group's earnings forecast for the business year ending March 31, at the head office of the Bank of Japan in Tokyo on March 27.

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Top bankers criticize Takenaka's bank policy

TOKYO, Japan - The heads of Japan's four major banking groups criticize Financial Services Minister Heizo Takenaka's bank policy in Diet testimony Dec. 3. The House of Councillors Financial Affairs Committee summoned as unsworn witnesses (from R to L) Terunobu Maeda, president of Mizuho Holdings Inc., Shigemitsu Miki, president of Mitsubishi Tokyo Financial Group Inc., Masashi Teranishi, president of UFJ Bank, and Yoshifumi Nishikawa, president of Sumitomo Mitsui Financial Group Inc.

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UFJ manages profit in 1st half, revenues down

TOKYO, Japan - UFJ Holdings Inc. President Masashi Teranishi said Nov. 25 in Tokyo that his banking group swung back into the black in the fiscal first half to Sept. 30 with group net profit of 72.56 billion yen, a sharp reversal from a loss of 67.44 billion yen a year earlier.

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Top bankers call for careful approach in corporate revival

TOKYO, Nov. 15 Kyodo - Sumitomo Mitsui Banking Corp. President Yoshifumi Nishikawa (standing) testifies to the House of Representatives Financial Affairs Committee in the Diet in Tokyo on Nov. 15. Mizuho Holdings Inc. President Terunobu Maeda sits at Nishikawa's left and UFJ Bank President Masashi Teranishi at Nishikawa's right. At right is Mitsubishi Tokyo Financial Group Inc. President Shigemitsu Miki.

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UFJ Bank inaugurated through Sanwa, Tokai merger

TOKYO, Japan - Chairman Hideo Ogasawara (L) and President Masashi Teranishi (R) cut tapes to inaugurate UFJ Bank at the bank's Tokyo headquarters building Jan. 15 through the merger of Sanwa Bank and Tokai Bank, both member firms of UFJ Holdings Inc. The merger gives UFJ Bank, with its corporate headquarters in Nagoya, 80 trillion yen in assets on an unconsolidated basis.

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UFJ to form firm with Merrill Lynch to dispose of bad loans

TOKYO, Japan - UFJ Holdings Inc. President Hideo Ogasawara (R) speaks at a news conference Nov. 22, 2001 on his firm's plans to set up a subsidiary in collaboration with Merrill Lynch Japan Securities Co. to help its group of banks accelerate the disposal of problem loans.

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(1)New banks, nonlife insurers kick off operations

TOKYO, Japan - Hideo Ogasawara, president of UFJ Holding Inc., a holding firm of Sanwa Bank, Tokai Bank and Toyo Trust & Banking Co., speaks at the company's opening ceremony in Tokyo on April 2. Three new megabank groups -- Sumitomo Mitsui Banking Corp., formed by the merger of Sumitomo Bank and Sakura Bank, Mitsubishi Tokyo Financial Group Inc., a merged body of the Bank of Tokyo-Mitsubishi, Mitsubishi Trust & Banking Co. and Nippon Trust Bank, as well as UFJ Holdings Inc. -- began operations the same day.

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3 UFJ banks to post losses

TOKYO, Japan - Executives of three Japanese banks to merge as UFJ Holdings Inc. in April announced at a news conference March 16 they will post losses in their March settlements to write off over 1 trillion yen in bad loans. Sanwa Bank, Tokai Bank and Toyo Trust & Banking Co. are the first major banks in Japan to formally announce losses in March book-closings for fiscal 2000.

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Sanwa, Tokai, Toyo banks to form UFJ Holdings

TOKYO, Japan - Sanwa Bank, Tokai Bank and Toyo Trust & Banking Co. have announced they will set up a joint holding company called ''UFJ Holdings Inc.'' in April 2001. Shaking hands at a news conference Oct. 4 are (from L to R) Tokai Bank President Hideo Ogasawara, Sanwa Bank President Kaneo Muromachi and Toyo Trust & Banking President Shunroku Yokosuka. UFJ, which stands for United Financial of Japan, will be based in Osaka, and the three banks will integrate their operations under the new holding company.

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UFJ to form firm with Merrill Lynch to dispose of bad loans

TOKYO, Japan - UFJ Holdings Inc. President Hideo Ogasawara (R) speaks at a news conference Nov. 22, 2001 on his firm's plans to set up a subsidiary in collaboration with Merrill Lynch Japan Securities Co. to help its group of banks accelerate the disposal of problem loans.

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UFJ Bank inaugurated through Sanwa, Tokai merger

TOKYO, Japan - Chairman Hideo Ogasawara (L) and President Masashi Teranishi (R) cut tapes to inaugurate UFJ Bank at the bank's Tokyo headquarters building Jan. 15 through the merger of Sanwa Bank and Tokai Bank, both member firms of UFJ Holdings Inc. The merger gives UFJ Bank, with its corporate headquarters in Nagoya, 80 trillion yen in assets on an unconsolidated basis.

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UFJ, Mitsubishi Tokyo ink basic accord to merge Oct. 1, 2005

TOKYO, Japan - UFJ Holdings Inc. President Ryosuke Tan\makoshi (L) and Mitsubishi Tokyo Financial Group Inc. President Nobuo Kuroyanagi pose for photos at a press conference in Tokyo on Aug. 12 after signing a basic merger agreement that would clear the way for them to create the largest financial group in the world in October 2005. (Kyodo)

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(2)UFJ, Mitsubishi Tokyo ink basic accord to merge Oct. 1, 2005

TOKYO, Japan - UFJ Holdings Inc. President Ryosuke Tamakoshi (L) speaks as Mitsubishi Tokyo Financial Group Inc. President Nobuo Kuroyanagi listens at a press conference in Tokyo on Aug. 12. They signed a basic merger agreement that would create the world's largest financial group in October 2005. (Kyodo)

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Sumitomo Mitsui to continue pushing for merger with UFJ

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Yoshifumi Nishikawa speaks in an interview with Kyodo News in Tokyo on Aug. 25. Nishikawa said the banking group will continue to press ahead with a proposed merger with smaller ailing rival UFJ Holdings Inc. (Kyodo)

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Shinsei Bank buys into UFJ's consumer finance unit Aplus

TOKYO, Japan - Shinsei Bank President Masamoto Yashiro (R) and Aplus President Junji Sugiyama (L) hold a press conference in a Tokyo hotel Sept. 3 on Shinsei purchasing a 67% equity stake in Aplus, a struggling consumer finance affiliate of the UFJ Holdings Inc. banking group, for 35 billion yen later this month. (Kyodo)

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UFJ Holdings to incur 780 bil. yen interim net loss

TOKYO, Japan - UFJ Holdings Inc. President Ryosuke Tamakoshi (L) speaks as UFJ Bank President Takamune Okihara listens at a press conference in Tokyo on Sept. 10. UFJ Holdings said it expects to book a group net loss of 780 billion yen in the April-September first half of fiscal 2004 as it will clean up its books before its planned merger with Mitsubishi Tokyo Financial Group Inc. in October 2005. (Kyodo)

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UFJ Holdings posts 674 billion yen net loss in fiscal 2004 1st h

TOKYO, Japan - UFJ Holdings Inc. President Ryosuke Tamakoshi speaks in reply to media questions at a press conference in Tokyo on Nov. 24. The company reported a group net loss of 674.28 billion yen in the fiscal first half, a reversal from a 179.85 billion yen profit a year earlier, due to massive bad-loan disposal costs. (Kyodo)

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(1) MTFG, UFJ set merger ratio at 1 to 0.62

TOKYO, Japan - Mitsubishi Tokyo Financial Group Inc. President Nobuo Kuroyanagi (L) shows off the symbol mark of a new banking group to be formed through a merger between his group and UFJ Holdings Inc. on Oct. 1 at a press conference in Tokyo on Feb. 18. Seated to his right is UFJ Holdings President Ryosuke Tamakoshi. (Kyodo)

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(2)MTFG, UFJ set merger ratio at 1 to 0.62

TOKYO, Japan - Mitsubishi Tokyo Financial Group Inc. President Nobuo Kuroyanagi (L) and UFJ Holdings Inc. President Ryosuke Tamakoshi pose at a press conference in Tokyo on Feb. 18. A new company to be formed through their merger on Oct. 1 will be named Mitsubishi UFJ Financial Group Inc. and rank top in the world in terms of assets. (Kyodo)

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UFJ books 554 bil. yen loss in FY 2004 on hefty credit costs

TOKYO, Japan - UFJ Holdings Inc. President Ryosuke Tamakoshi speaks at a press conference in Tokyo on May 25. The banking group said it incurred a group net loss of 554.53 billion yen in fiscal 2004, worse than the previous year's 402.81 billion yen loss, as it accelerated bad-loan disposal. (Kyodo)

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MUFG's net profit tops 1 tril. yen, Mizuho logs record profit

TOKYO, Japan - Mitsubishi UFJ Financial Group Inc. President Nobuo Kuroyanagi speaks at a press conference on May 22 on the group's business results for fiscal 2005. The world's largest banking group reported more than 1 trillion yen ($8.87 billion) in consolidated net profit for the year, which saw Mitsubishi Tokyo Financial Group Inc. merged with UFJ Holdings Inc. (Kyodo)

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Gov't mulling ex-UFJ Holdings head as postal savings bank chief

TOKYO, Japan - The government has decided to appoint Hideo Ogasawara (file photo), a former head of UFJ Holdings Inc., the predecessor of Mitsubishi UFJ Holdings Financial Group Inc., to head the bank unit of Japan Post when it is privatized in October 2007, informed sources said June 21. (Kyodo)

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UFJ manages profit in 1st half, revenues down

TOKYO, Japan - UFJ Holdings Inc. President Masashi Teranishi said Nov. 25 in Tokyo that his banking group swung back into the black in the fiscal first half to Sept. 30 with group net profit of 72.56 billion yen, a sharp reversal from a loss of 67.44 billion yen a year earlier. (Kyodo)

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UFJ Bank vice president Sugihara to become parent firm chief

TOKYO, Japan - Takeshi Sugihara (file photo), vice president of UFJ Bank, has been named new president of UFJ Holdings Inc. to succeed Hideo Ogasawara, company officials said on May 17. Sugihara is expected to assume the post after obtaining shareholders' approval at the end of June.

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UFJ Holdings stays in red on stock losses, bad-loan disposals

TOKYO, Japan - Takeshi Sugihara, president of UFJ Holdings Inc., speaks to reporters at the head office of the Bank of Japan in Tokyo on May 26 about UFJ's earnings report for fiscal 2002 through March 31. (Kyodo)

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UFJ cuts earnings forecast, seeing net loss of 650 bil. yen

TOKYO, Japan - Toshihide Mizuno, a UFJ Holdings Inc. director, speaks to reporters about the UFJ group's earnings forecast for the business year ending March 31, at the head office of the Bank of Japan in Tokyo on March 27. (Kyodo)

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UFJ positive about adopting U.S.-style governance

OSAKA, Japan - New UFJ Bank President Takamune Okihara (R) speaks at a press conference in Osaka on June 1, flanked by Chairman Ryosuke Tamakoshi. Okihara said that UFJ Holdings Inc. is positive about adopting a U.S.-style system of corporate governance to improve the financial group's management. (Kyodo)

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(1)New banks, nonlife insurers kick off operations

TOKYO, Japan - Hideo Ogasawara, president of UFJ Holding Inc., a holding firm of Sanwa Bank, Tokai Bank and Toyo Trust & Banking Co., speaks at the company's opening ceremony in Tokyo on April 2. Three new megabank groups -- Sumitomo Mitsui Banking Corp., formed by the merger of Sumitomo Bank and Sakura Bank, Mitsubishi Tokyo Financial Group Inc., a merged body of the Bank of Tokyo-Mitsubishi, Mitsubishi Trust & Banking Co. and Nippon Trust Bank, as well as UFJ Holdings Inc. -- began operations the same day.