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Mitsubishi UFJ Financial to implement realignment of units in April

Mitsubishi UFJ Financial Group Inc. will implement a realignment of its units on April 2.

The group said Feb. 2 that effective April 2, it will transfer shares in Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned by Bank of Tokyo-Mitsubishi UFJ Ltd. and Mitsubishi UFJ Securities Holdings Co. Ltd. to Mitsubishi UFJ Trust & Banking Corp. The trust unit will also inherit the common shares in Mitsubishi UFJ Asset Management (UK) Ltd. held by Bank of Tokyo-Mitsubishi.

The group had previously said that the restructure of its units is part of efforts to adapt to domestic and global changes in the business environment. Under the restructure plan, Mitsubishi UFJ Trust will focus on its domestic and global asset management and administration business, while Bank of Tokyo-Mitsubishi will focus on domestic and global commercial banking.