Mitsubishi Tokyo Financial Group

, or MTFG, was one of Japan's largest banks ranked by assets (an estimated US$1 trillion), second only to Mizuho Holdings. On October 1, 2005, MTFG completed the acquisition of UFJ Holdings, Japan's fourth largest banking group, to form the Mitsubishi UFJ Financial Group (MUFG), the world's largest bank ranked by assets with ¥190 trillion (approximately $1.7 trillion).
The MTFG financial group (prior to the acquisition of UFJ Holdings) consisted of:
MTFG was widely considered financially the strongest of Japan's large banks, with non-performing loans down to 2.9% of assets.
History.
The financial group dates back to 1919, when the Mitsubishi Bank was founded to finance the Mitsubishi "zaibatsu", most of which is today Mitsubishi Heavy Industries.
In July 2004, Japan's fourth-largest financial group UFJ Holdings offered to merge with MTFG. The merger of the two bank holding companies was completed on October 1, 2005. The trust banking and securities units of the two groups were merged on the same day. The core banking units of MTFG and UFJ, The Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank, respectively, continued to operate separately until January 1, 2006, when they were merged to form The Bank of Tokyo-Mitsubishi UFJ, Ltd..