Mitsubishi UFJ Financial Group Inc. (NYSE:
MUFG) is
one of the cheap blue-chip stocks to invest in now. On August 24, the company confirmed plans to buy or partner with overseas money managers as it seeks a larger share of the global investment market.
Mitsubishi UFJ Financial has set its sights on merging with a private asset specialist in the US or Europe as it seeks to expand its foothold in areas such as the booming credit market or infrastructure financing. The two regions are seen as highly prospective markets for potential deals.
“We definitely are keeping an eye on any potential opportunities… It might be a partnership, it might be an acquisition, nothing is decided as of this point,” said Oleg Kapinos, London-based head of global distribution strategy for Mizuho’s investments arm AM One.
Mitsubishi UFJ Financial joins a growing list of Japanese financial institutions that are increasingly eyeing deals abroad to offset sluggish domestic growth. An aging and shrinking population back home is posing significant risks, prompting the government and regulators to pursue reforms that can establish Japan as a leading asset management center.
Mitsubishi UFJ Financial Group Inc. (NYSE:MUFG) is a global financial services company that offers a comprehensive range of products and services, including commercial and investment banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.
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Disclosure: None. This article is originally published at
Insider Monkey.
