Word: mitsubishis
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...Performance Of The Week Executives from UFJ HOLDINGS and MITSUBISHI TOKYO FINANCIAL GROUP finalized their merger agreement after a three-week legal battle over the details of the deal. Barring a hostile takeover bid by rival SMFG, the marriage of the two giants will create the world's largest bank, with more than $1.7 trillion in assets. Now the tough part: fixing UFJ's long-beleaguered business...
From electronic gadgets to bonsai trees to dinner portions, the Japanese are famous for doing things small. But in sumo wrestling and banking, gigantism is the order of the day. At a press conference last week, officials at UFJ Holdings and Mitsubishi Tokyo Financial Group (MTFG) announced they had agreed to begin negotiating a merger that could create the world's largest bank, a monster with $1.75 trillion in assets, overshadowing Japan's Mizuho Holdings and U.S.-based Citigroup, both with approximately $1.3 trillion in assets as of March...
...BUSINESS JAPAN: A raft of safety problems threatens to sink Mitsubishi...
...Okazaki admits this is Mitsubishi's "last chance." Analysts say it may already be too late. Japan has 11 companies making cars and trucks, while the total market has shrunk by about a quarter since its 1990 peak. Mitsubishi's market share in passenger- and mini-cars has sunk to a meager 3.8%. The company "could disappear tomorrow, and no one would miss it," says John Harris, a Tokyo-based auto consultant...
...Indeed, even otherwise stalwart supporters are wondering if the company, having persisted in a long history of deceptive behavior, now deserves to be hauled away to the scrapyard. Asks one executive at a Mitsubishi company participating in the bailout: "If they did something against society, why should we support them?" It's a question that even the most loyal Pajero drivers will be asking themselves when trade-in time rolls around...