Tokyo, February 10th, 2017 – Mitsubishi UFJ Trust and Banking Corporation (MUTB; Mikio Ikegaya, President and CEO), a leading Japanese trust bank, today announced its decision to recapitalize two subsidiaries in Luxembourg (Mitsubishi UFJ Investor Services & Banking (Luxembourg) S.A. (MIBL) and MUFG Lux Management Company S.A. (MUFGLM)) and to integrate the operations of Mitsubishi UFJ Investor Services Limited (MUIS), a Japanese subsidiary of MIBL, subject to regulatory approvals by the relevant authorities.
Recapitalization of Luxembourg subsidiaries
MUTB has decided to convert MIBL and MUFGLM into 100% owned subsidiaries through direct investment by MUTB, which is the principal entity responsible for the management of overseas investor services operations, in order to enhance the agility of business management.
MUIS business succession
In light of this conversion and with the expansion of investor services operations through recent acquisitions, MUTB has decided to integrate all operations of MUIS to MUTB with a view to further strengthening the business development framework in Japan. Following the completion of the integration, MUIS will enter into corporate liquidation proceedings.
|Business||Custody, overseas investor trust administration services, etc.||Administration of investment trusts domiciled in Luxembourg, etc.||Customer contact in Japan for various overseas sites providing overseas investor services operations|
1. Shareholders: Mitsubishi UFJ Trust and Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Ltd. and The Master Trust Bank of Japan, Ltd.
2. Shareholder: MIBL
This recapitalization and business integration are scheduled to be completed by June 1st, 2017. There is no anticipated impact to existing or new clients as a result of this integration.
Looking ahead MUTB will continue to support the needs of overseas investor services operations, including custody, investment trust administration and other services required by clients, by utilizing the expertise and capabilities of each business entity.