Possible Acquisition of an Indonesian Bank Does Not Affect FVE for MUFG; Shares Still Undervalued
Media reports of Nov. 9 are speculating that no-moat Mitsubishi UFJ Financial Group, or MUFG, aims to acquire a 40% stake in Indonesian bank Danamon for JPY 200 billion through Bank of Tokyo-Mitsubishi UFJ, or BTMU. This does not affect our long-term view and fair value estimate for MUFG. Even if the deal proceeds, the likely impacts are small in the context of the group’s enormous balance sheet of JPY 303 trillion. We think the stock remains undervalued with a price/fair value ratio of 0.86 tim...Mitsubishi UFJ Financial Group is financial groups with total assets of Y297,185,019 million as of Mar. 31, 2017. Co. is the holding company for The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mitsubishi UFJ Trust and Banking Corporation, Mitsubishi UFJ Securities Holdings Co., Ltd., Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Mitsubishi UFJ NICOS Co., Ltd., and other companies. As a bank holding company, Co. is regulated under the Banking Law of Japan. Its services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management, leasing and many more fields of financial services.
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