MUFG (8306 JP) - BigBank BigBuyback But A Bit Pricey Vs SMFG

Japan Mega Banks – Avenue of the Americas

Mitsubishi UFJ Financial Group – MS Continues to Dilute MUFG

MUFG  (8306 JP):  Dealing With a New Order

Silver Point

Thomas J. Monaco

Silver Point is a boutique research firm that focuses on the broader financial services sector, with a particular focus on troubled institutions globally. 

Asia Ex Japan

Equity Bottom-Up

Mitsubishi UFJ Financial (MUFG) / Equity Bottom-Up

Mitsubishi UFJ Financial (MUFG) (8306 JP)

*For Sale: According to press reports, Mitsubishi UFJ Financial Group (8306.JP) [MUFG] is contemplating a sale of its US banking subsidiary, MUFG Americas – the 22nd largest bank in the US by assets, in a significant strategy shift;  and  *Don’t Expect A Big Premium: Bloomberg suggests that the median sale price for large US banks was approximately 1.4x P/BV last year – implying a deal price of over USD 22 bn. In addition to the price tag limiting the number of potential suitors, any acquirer will have to contend with breaching the national deposit cap. As such, pricing likely would below last year’s US average – particularly considering MUFG America’s fundamental challenges.

*For Sale: According to press reports, Mitsubishi UFJ Financial Group (8306.JP) [MUFG] is contemplating a sale of its US banking subsidiary, MUFG Americas – the 22nd largest bank in the US by assets, in a significant strategy shift;  and  *Don’t Expect A Big Premium: Bloomberg suggests that the median sale price for large US banks was approximately 1.4x P/BV last year – implying a deal price of over USD 22 bn. In addition to the price tag limiting the number of potential suitors, any acquirer will have to contend with breaching the national deposit cap. As such, pricing likely would below last year’s US average – particularly considering MUFG America’s fundamental challenges.

Sumitomo Mitsui Financial Group (8316 JP)

Mitsubishi UFJ Financial (MUFG) ADR (MUFG US)

三菱UFJフィナンシャル・グループ – 米国からの撤退