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Economy

Megabank wants to drop 'Tokyo' from its Japanese name

After 22 years, 'Bank of Tokyo' may be dropped by 'Mitsubishi UFJ' signs

Headquarters of Bank of Tokyo-Mitsubishi UFJ

TOKYO -- The Bank of Tokyo-Mitsubishi UFJ (BTMU) is considering shortening its Japanese name next spring, possibly by dropping "Tokyo."

In 1996, Mitsubishi Bank and the Bank of Tokyo merged to form the Bank of Tokyo-Mitsubishi (BTM). The Bank of Tokyo had been widely recognized on the international stage as Japan's sole bank dealing in foreign currency transactions.

In 2006, BTM merged with UFJ Bank to create BTMU.

Critics have said BTMU's full Japanese name, which nods to the bank's precursor parts, is too long.

BTMU plans to change its English name to MUFG Bank. Its parent, Mitsubishi UFJ Financial Group, will retain its name. The holding company dropped Tokyo from its name in 2005, when its predecessors, the Mitsubishi Tokyo Financial Group and the UFJ Group merged.

(Nikkei)

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