Mitsubishi UFJ Financial Group Inc (ADR)(NYSE:MTU) has decided to introduce few changes in its corporate executive board to ensure it can continue to live up to customers expectations in a hassle-free manner.
As per the reports, Tatsuo Wakabayashi, who was company’s Deputy Chairman & Director, has been assigned a new role. From now onwards, he will only look after directorship and not chairmanship. Mikio Ikegaya, company’s managing officer, deputy group head of corporate banking business, will replace Mr. Wakabayashi as the Deputy Chairman.
In another statement, Mitsubishi announced that Tatsuo Wakabayashi, who holds the positions of Chairman, CEO and President at the company will work as the Chairman. Mikio Ikegaya will be handed over the role of CEO and President to ensure a perfect balance in the top management.
The decision has been taken to make sure that Mr. Wakabayashi doesn’t feel the extra pressure due to handling two key positions simultaneously. This decision will not only keep him free from additional burden but also give the board of directors a chance to see how Mr. Ikegaya can add value to Mitsubishi UFJ Financial Group’s top management.
Declaration of Risk-Adjusted Capital Ratio
Mitsubishi UFJ Financial Group also announced consolidated ratios for the fiscal year 2015. Reports claim that the total capital of the company as on December 31, 2015, was 17,841 billion yen; whereas the risk-weighted assets were worth 113,471.9 billion yen. Total capital ratio as of December 31, 2015, was 15.72% as compared to 15.69% on September 31, 2015, and 15.62% as of March 31, 2015.
The year 2015 was reasonably good for the company as it managed to register a decent hike; however, the management team believes that there’s a lot of scope for growth. It will come up with innovative ideas to improve the overall financial position in 2016, details of these plans will be communicated to investors from time to time.
