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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Mitsubishi UFJ Financial Group, Inc.    8306   JP3902900004

MITSUBISHI UFJ FINANCIAL GROUP, INC.

(8306)
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Mitsubishi UFJ Lease to buy Hitachi Capital in deal worth $2.8 bln

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09/24/2020 | 04:29am EDT

TOKYO, Sept 24 (Reuters) - Japan's Mitsubishi UFJ Lease said on Thursday it would buy smaller rival Hitachi Capital Corp in a deal calculated at 294 billion yen ($2.8 billion).

The two companies formed a capital alliance in 2016 and had been negotiating a merger since, they said in a joint statement.

The deal would help the new company, to be set up in April, to compete with global competitors, they said.

Mitsubishi UFJ Lease would give 571 million shares to shareholders of Hitachi Capital, making the deal worth about 294 billion yen based on Mitsubishi UFJ Lease's closing price of 515 yen on Thursday.

Hitachi Capital has a market value of 319 billion yen based on Thursday's close.

The two companies will have assets worth about 10 trillion yen and almost 10,000 employees, they said.

Their combined revenue will be around 1.4 trillion yen , a Reuters calculation showed.

Japanese business magazine Diamond reported the transaction earlier on Thursday. The Tokyo Stock Exchange suspended trading in both companies' shares following the report.

($1 = 105.3100 yen) (Reporting by Junko Fujita Takashi Umekawa, Hideyuki Sano; editing by David Dolan and Jason Neely)


Stocks mentioned in the article
ChangeLast1st jan.
HITACHI CAPITAL CORPORATION -3.72% 2200 End-of-day quote.-23.58%
MITSUBISHI CORPORATION -2.29% 2325.5 End-of-day quote.-19.81%
MITSUBISHI UFJ FINANCIAL GROUP, INC. -0.34% 410.2 End-of-day quote.-30.85%
MITSUBISHI UFJ LEASE & FINANCE COMPANY LIMITED -3.93% 440 End-of-day quote.-37.68%
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Financials
Sales 2021 3 941 B 37 638 M 37 638 M
Net income 2021 629 B 6 005 M 6 005 M
Net Debt 2021 - - -
P/E ratio 2021 8,26x
Yield 2021 6,12%
Capitalization 5 267 B 50 368 M 50 309 M
Capi. / Sales 2021 1,34x
Capi. / Sales 2022 1,35x
Nbr of Employees 150 800
Free-Float 88,5%
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Technical analysis trends MITSUBISHI UFJ FINANCIAL GROUP, INC.
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TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 576,67 JPY
Last Close Price 410,20 JPY
Spread / Highest target 97,5%
Spread / Average Target 40,6%
Spread / Lowest Target 9,70%
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Managers
NameTitle
Hironori Kamezawa President & Director
Nobuyuki Hirano Executive Chairman
Takayoshi Futae Group Co-COO & GM-Global Commercial Banking
Tetsuya Yonehana Group CFO & Senior Managing Executive Officer
Hiroki Kameda Group Chief Information Officer
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