MUFG announced that it has established a new Medium-term Business Plan (“MTBP”) for the three-year period beginning in FY2024, as outlined in the following press release.

Since the three years of the COVID-19 pandemic, the business environment has changed at an unforeseen pace. AI and other digital technologies have rapidly developed and penetrated our daily lives, the social and economic structure is shifting towards clean energy, and work style and values have become more diverse. Meanwhile, divisions are becoming apparent through heightened geopolitical risk and a reversal of globalization.

In this era when social and economic structures are dramatically changing at a global scale, we believe that MUFG’s ability to facilitate connections, leveraging its extensive network and diverse solutions, can be maximized. By seizing this opportunity to achieve further growth and realizing our Purpose of being “committed to empowering a brighter future”, we will strive to meet expectations of our stakeholders.

1. Fundamental direction

Taking the opportunity offered by this major environmental change surrounding MUFG’s business, the next MTBP period is positioned as “three years to pursue and produce growth”. In addition to expanding and refining our growth strategies, we will further strengthen efforts to drive social and environmental progress as a pillar of the MTBP. We will also accelerate transformation and innovation to achieve sustainable growth. As a financial target, we aim to increase our ROE to approximately 9% in FY2026.

2. Three Pillars of the MTBP

(1) Expand & Refine Growth Strategies

Through considering MUFG’s strategies, we have formulated seven strategies to achieve growth during the new MTBP period. While seeking growth by further strengthening our existing business model, by for example increasing the profitability of our balance sheet with consideration for changes in the interest rate environment, we will also seek to drive growth by expanding our business through providing new products and services, and by expanding customer touchpoints through new channels.

(2) Drive Social & Environmental Progress

MUFG has previously established priority issues in our sustainability management to realize a sustainable environment and society. We have revised such priority issues with consideration for environmental changes, expectations from society, and importance to our business, and will strengthen our efforts in driving social and environmental progress, integrating such efforts in our business strategies.

For more information on our sustainability initiatives, please refer to today’s press release “Publication of the MUFG Climate Report 2024 and the MUFG TNFD Report, and Other Sustainability-related Initiatives”.

(3) Accelerate Transformation & Innovation

So as to continuously be trusted and chosen by our customers, we will accelerate transformation and innovation. We will transform our culture to become more agile, and strengthen our human capital, system development capacity, and AI and data infrastructure. We will also further improve our risk management and compliance.

Revision of the MUFG Way

In 2021, MUFG introduced the MUFG Way, which is comprised of our Purpose (our reason for being), our Values (values to be shared throughout the organization), and our Vision (our medium- to long-term goals). Our Purpose of being “committed to empowering a brighter future,” expresses our determination to help all our stakeholders take the next step forward, and we are working to achieve this Purpose through creating and executing strategies with the issues our stakeholders face as our starting point.

To accelerate transformation and innovation as a pillar of the MTBP, we have made a revision to the Values that comprise the MUFG Way, adding the element of Agility, through which we will aim to provide innovative products and services to our customers while encouraging each of our employees to act in an autonomous manner.