MTFGMitsubishi Tokyo Financial Group
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As of 2004, before the merger between MTFG and UFJ, the Mizuho Financial Group (Mizuho), MTFG, Sumitomo Mitsui Financial group (SMFG), and UFJ Holdings were the major four leading banks in the Japanese banking industry.
On the same day, July 14, 2004, UFJ and MTFG shares were suspended on the basis of the possible merger and Sumitomo's share price subsequently fell by about fourteen percent.
The key to the success of the revival plan is the prospective merger with MTFG, and with MTFG's agreeing to provide [yen]700 billion of financial aid, including a package that is effectively a "poison pill" to ward off a hostile takeover bid by SMFG.
While Kokusai Securities, Tokyo-Mitsubishi Securities and Tokyo-Mitsubishi Personal Securities had earlier agreed to merge, Issei Securities decided to join them so as to promote the integration of securities services within the group, MTFG said.
3) On consummation of the proposal, MTFG would become one of the largest banking organizations in the world, with total consolidated assets of approximately $860 billion.
There was some kind of mistake on the part of the TSE regarding the timing of the release,'' said Tadahiko Fujino, MTFG senior managing director, when announcing the annual reports at the stock exchange the same day.
The combined per-share dividend from MTFG and UFJ for fiscal 2005 was 6,000 yen.