LEÓN, MEXICO, March 10, 2016 – Mitsubishi UFJ Financial Group, Inc. (MUFG), one of the world’s leading financial groups, today announced that its Mexican subsidiary plans to open a new office in León, the hub of Mexico’s rapidly expanding automotive industry.
Scheduled to launch on March 14, 2016, the León office will be the second in Mexico for Bank of Tokyo-Mitsubishi UFJ (México), S.A. (BTMU Mexico); its flagship Mexico City office (about 200 miles south of León) opened in 1995.
From 2010 through 2013, Japanese investment in Mexico totaled approximately US$4.9 billion, compared with about US$1.5 billion from 2000 through 20091. With most of that investment committed to the auto industry, Japanese auto production in 2016 is forecast to rise to roughly 1.4 million units from 446,000 in 20092 – a gain of more than 300%. Further, the world’s largest automaker, Japan’s Toyota, recently announced plans to build a new factory in the greater León region with production expected to begin in 2019.
“With Japanese automakers expanding their presence in the León area, the opening of our new office provides MUFG with a tremendous opportunity to deliver world-class banking capabilities to these great companies while actively participating in the exciting growth of this burgeoning commercial region,” said Ike Toyoda, President of MUFG’s BTMU Mexico.
MUFG’s León office will provide a full array of banking products and services, including deposits, loans and foreign-exchange capabilities.
“By placing an office in León,” Mr. Toyoda added, “MUFG once again demonstrates it understands the evolving needs of clients and is prepared to support their efforts with the world-class service these great companies have come to expect – and deserve.”
BTMU Mexico is a subsidiary of MUFG Americas Holdings Corporation, which itself is a subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU); BTMU is a wholly owned subsidiary of MUFG.
About MUFG Americas Holdings Corporation Headquartered in New York, MUFG Americas Holdings Corporation is a financial holding company and bank holding company with total assets of $116.2 billion at December 31, 2015. Its principal subsidiary, MUFG Union Bank, N.A., provides an array of financial services to individuals, small businesses, middle-market companies, and major corporations. As of December 31, 2015, MUFG Union Bank, N.A. operated 369 branches, comprised primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York and Georgia, as well as two international offices. MUFG Americas Holdings Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd. which is a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc., one of the leading financial groups. Visit www.unionbank.com or www.mufgamericas.com for more information.
About MUFG (Mitsubishi UFJ Financial Group, Inc.) MUFG (Mitsubishi UFJ Financial Group, Inc.) is one of the world’s leading financial groups, with total assets of approximately ¥295.8 trillion (JPY) or $2.5 trillion (USD)3, as of December 31, 2015. Headquartered in Tokyo and with approximately 350 years of history, MUFG is a global network with about 1,200 offices in nearly 50 countries. The Group has over 140,000 employees and about 300 entities, offering services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group’s operating companies include Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust and Banking Corporation (Japan’s leading trust bank), and Mitsubishi UFJ Securities Holdings Co., Ltd., one of Japan’s largest securities firms. Through close partnerships among our operating companies, the Group aims to “be the world’s most trusted financial group”, flexibly responding to all of the financial needs or our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: MTU) stock exchanges. Visit www.mufg.jp/english/index.html.
(1)KPMG in Mexico with information from the Ministry of Economy of Mexico, 2013
(2)KPMG in Mexico with information from Asociacion Mexicana de la Industria Automotriz and Promexico
(3)Exchange rate of 1 USD=¥120.6 (JPY) as of December 30, 2015