TOKYO -- Mitsubishi UFJ Financial Group will invest 15 billion yen ($100 million) in WealthNavi, Japan's largest robo-adviser platform, and offer a service recommending investment products, mortgages and insurance policies to customers based on their assets, Nikkei has learned.
MUFG Bank, MUFG's flagship unit, is expected to take a stake of more than 15% through a private placement, making WealthNavi an equity-method affiliate. WealthNavi will remain listed on the Tokyo Stock Exchange and keep its current leadership team, with MUFG Bank sending a director to the board.
