TOKYO -- Mitsubishi UFJ Financial Group (MUFG) plans to launch a takeover bid for WealthNavi, Japan's largest robo-adviser platform, Nikkei has learned. The megabank, which in February took a stake of over 15% in the company, will purchase the remaining shares and make it a wholly owned subsidiary.
Business deals
MUFG to launch takeover bid for robo-adviser WealthNavi
Megabank intends to better compete as Japanese depositors turn to investing
MUFG plans to launch a takeover bid for WealthNavi, which provides automated investment advice based on customers' answers to a few questions and then buys the recommended assets for them. (Source photos by Nikkei)
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