Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. ('MUMSS') and Mitsubishi UFJ Morgan Stanley PB Securities Co., Ltd. ('PB Securities')*1 today announced that they have concluded a revised version of the merger agreement announced in the press release*2 dated September 12, 2019, to the effect that the effective date of merger shall be postponed.
1. Revision to the effective date of merger
Before revision After revision
June 1, 2020 (tentative) August 1, 2020 (tentative)
2. Reason for the revision
Following the state of emergency declared by the Japanese government on April 7, 2020,
both MUMSS and PB Securities have endeavored to significantly reduce the number of inoffice workers, and have determined that preparing for the planned merger amid these
circumstances will require additional time.
Based on the current emergency actions by the Japanese government, MUMSS and PB
Securities have decided that the effective date of merger shall be changed to August 1,
2020.
3. Outlook
Towards the merger, MUMSS and PB Securities will make prudent decisions that take into account the status of the spread of COVID-19, the Japanese government's response and resulting impacts on economic activities, social conditions, etc. Should a further change to the effective date of merger be necessary, we will announce such a change promptly.
*1 MUMSS and PB Securities are consolidated subsidiaries of MUFG and Mitsubishi UFJ Securities Holdings Co., Ltd.
*2 'Signing of Agreement on Capital Transfer and Merger between Consolidated Subsidiaries' https://www.mufg.jp/dam/pressrelease/2019/pdf/news-20190912-001_en.pdf
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About MUFG
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world's leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with over 2,700 locations in more than 50 countries. The Group has over 180,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to 'be the world's most trusted financial group' through close collaboration among our operating companies and flexibly respond to all of the financial needs of 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 stock exchanges. For more information, visit https://www.mufg.jp/english.