The Acquisition Bid for UFJ Holdings
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Case Details:
Case Code : BSTR133
Case Length : 17 Pages
Period : 2000 - 2004
Organization : Sumitomo Mitsui Financial Group, UFJ Holdings
Pub Date : 2004
Teaching Note :Not Available
Countries : Japan
Industry : Banking
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Background Note
UFJ Holdings
Headquartered in Osaka, the UFJ Group came into existence in April 2001 after the merger of Sanwa Bank, Tokai Bank and Toyo Trust. Sanwa Bank had an extensive branch network in the Tokyo and Osaka regions.
It was known for providing innovative financial services and had a
well-established service network, especially in Asia.
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The bank had a diverse customer base ranging from retail to multinational corporations. Tokai Bank was a leading bank in the Nagoya region and had a strong presence in Tokyo and Osaka too.
The bank had a good presence in many key Asian markets and specialized in serving the needs of middle-market companies.
Toyo Trust was a well recognized entity in Japan's asset management business and specialized in both trust and banking operations. The UFJ Group was ranked 14th in the world among banks in terms of assets and 392 among the Financial Times 'Global 500' companies.
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The group's operations were broadly classified into retail banking, corporate banking, global banking and trading, trust operations, securities and investment banking and asset management. It had established a wide network covering the US, Canada, Europe, the Middle East and Oceania.
Retail banking was UFJ's core business with a thrust on providing housing and
consumer loans.
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The corporate division catered to the needs of medium and small companies and offered services like processing payments and settlements through electronic banking, sale of derivatives and corporate finance services like loan syndication and asset securitization, cash management, payroll and settlement related services.
The trust operations included real estate services, corporate agency
services, pension and inheritance related services to individuals. UFJ
had been reporting significant losses for the past three fiscal years
(2002-04) (Refer Table I and Exhibit III for the financial performance
of UFJ). The bank was witnessing declining revenues and increasing NPAs. |
UFJ was also well behind the time schedule given by the Financial Services Agency (FSA), Japan's banking regulator, to reduce non-performing loans and come out of its financial crisis. Merger with a stronger bank was considered necessary for this...
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