Mitsubishi UFJ Financial Group Inc. will transfer 285,900 shares of Mitsubishi UFJ Investor Services & Banking (Luxembourg) SA to Mitsubishi UFJ Trust & Banking Corp. by means of a company split, effective May 31.
The company said Jan. 24 that the transfer will help streamline the business and strengthen the authority of Mitsubishi UFJ Trust in managing the business.
Under the planned absorption-type split, Mitsubishi UFJ Trust will issue new shares, all of which will accede to Mitsubishi UFJ Financial. Mitsubishi UFJ Trust will inherit 285,900 shares, which Mitsubishi UFJ Financial will receive from unit Bank of Tokyo-Mitsubishi UFJ Ltd. by means of a dividend.
The impact of the split on Mitsubishi UFJ Financial's business results is expected to be negligible.