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Ufj Holdings Inc

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BUSINESS
July 14, 2004 | From Times Wire Services
UFJ Holdings Inc., Japan's fourth-largest banking group, said its board had decided to seek a merger with third-ranked Mitsubishi Tokyo Financial Group Inc., a combination that would surpass Citigroup Inc. as the world's biggest bank. The board has also agreed to scrap the planned sale of UFJ Trust Bank to Sumitomo Trust & Banking Co., it said. Earlier, banking sources told Reuters that UFJ had started negotiations with MTFG, seeking a rescue after three years of losses.
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BUSINESS
August 31, 2004 | From Reuters
Japan's Supreme Court ruled that troubled bank UFJ Holdings Inc. can pull out of a deal to sell its trust business to a smaller rival, clearing the way for a full takeover of UFJ by larger rival Mitsubishi Tokyo Financial Group Inc. The court rejected an appeal by Sumitomo Trust & Banking Co., which had agreed in May to buy the trust unit from UFJ.
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BUSINESS
August 31, 2004 | From Reuters
Japan's Supreme Court ruled that troubled bank UFJ Holdings Inc. can pull out of a deal to sell its trust business to a smaller rival, clearing the way for a full takeover of UFJ by larger rival Mitsubishi Tokyo Financial Group Inc. The court rejected an appeal by Sumitomo Trust & Banking Co., which had agreed in May to buy the trust unit from UFJ.
BUSINESS
August 25, 2004 | From Associated Press
Pushing ahead in its unsolicited pursuit of UFJ Holdings, Sumitomo Mitsui Financial Group Inc. offered to buy the smaller Japanese bank for stock valued at more than $29 billion despite UFJ's agreement to merge with Mitsubishi Tokyo Financial Group Inc. With combined assets of about $1.7 trillion, UFJ and Mitsubishi Tokyo would create the world's largest bank in terms of assets, surpassing U.S.-based Citigroup Inc.'s $1.19 trillion.
BUSINESS
August 25, 2004 | From Associated Press
Pushing ahead in its unsolicited pursuit of UFJ Holdings, Sumitomo Mitsui Financial Group Inc. offered to buy the smaller Japanese bank for stock valued at more than $29 billion despite UFJ's agreement to merge with Mitsubishi Tokyo Financial Group Inc. With combined assets of about $1.7 trillion, UFJ and Mitsubishi Tokyo would create the world's largest bank in terms of assets, surpassing U.S.-based Citigroup Inc.'s $1.19 trillion.
BUSINESS
July 28, 2004
* Unocal Corp. and its partners plan to spend about $1 billion in two years, more than initially planned, to boost natural gas output in Thailand as demand for the fuel surges for use in power generators. * Microsoft Corp. will face off against the European Commission Sept. 30 in a European Union court in Luxembourg, seeking a suspension of sanctions against it for several years, the court announced. * The planned merger between two of Japan's mega-banks, UFJ Holdings Inc.
BUSINESS
April 4, 2001 | KATHY KRISTOF, TIMES STAFF WRITER
Sanwa Bank California and Tokai Bank of California--both subsidiaries of giant Japanese institutions--agreed Tuesday to a merger, creating a company with $12 billion in assets that would be called United California Bank. The consolidation is part of the planned merger of the banks' Japanese parent companies, Sanwa Bank Ltd. and Tokai Bank Ltd., which are combining with Toyo Trust & Banking Co. to create a $780-billion institution called UFJ Holdings Inc.
BUSINESS
August 13, 2004 | From Associated Press
Japanese banking group UFJ Holdings Inc. agreed Thursday to be acquired by Mitsubishi Tokyo Financial Group Inc. in a deal that would create the world's largest bank by assets. The two companies' presidents said the integration of holding companies, banks, trust banks and securities companies would be completed by Oct. 1, 2005, subject to authorities' approval. Financial terms were not disclosed, although Mitsubishi had offered UFJ as much as $6.3 billion.
BUSINESS
June 7, 2004 | From Reuters
Japan's economy is stronger than before, as evidenced by a decline in its massive nonperforming loans, Economics and Financial Services Minister Heizo Takenaka said Sunday. "There are cyclical factors, but the underlying part is stronger," Takenaka said on a television program, adding that the ratio of nonperforming loans to banks' total loans fell sharply. "Although there are problems at individual institutions, the financial system overall is healthier," he added.
BUSINESS
July 16, 2004 | From Bloomberg News
Colony Capital, a Century City-based real estate investor, offered to buy control of Tokyo's 114-year-old Imperial Hotel, the onetime address of choice in the Japanese capital for Bob Hope, Joe DiMaggio and Marilyn Monroe. The $9-billion fund is negotiating with UFJ Holdings Inc., the main lender to Kokusai Kogyo Co., to buy the hotel and transportation company's 39.4% stake in Imperial Hotel Ltd., said Toshio Masui, the president of Colony's Japanese operation.
BUSINESS
July 14, 2004 | From Times Wire Services
UFJ Holdings Inc., Japan's fourth-largest banking group, said its board had decided to seek a merger with third-ranked Mitsubishi Tokyo Financial Group Inc., a combination that would surpass Citigroup Inc. as the world's biggest bank. The board has also agreed to scrap the planned sale of UFJ Trust Bank to Sumitomo Trust & Banking Co., it said. Earlier, banking sources told Reuters that UFJ had started negotiations with MTFG, seeking a rescue after three years of losses.
BUSINESS
July 3, 2003 | From Bloomberg News and Associated Press
A report showing rising optimism among Japan's major manufacturers sent the nation's stocks soaring Wednesday even as government bond yields jumped. Investors betting on a pickup in the economy drove the Nikkei-225 share index up 313.75 points, or 3.4%, to 9,592.24, the highest close since Sept. 19. The index has rallied 8.5% since June 16, a period in which many markets worldwide have stalled.
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