Mitsubishi UFJ Financial Group (MUFG) is planning to merge its two asset management subsidiaries on 1 July2015 to improve business efficiency.

Mitsubishi UFJ Asset Management Co (MUAM) has signed a memorandum of understanding with KOKUSAI Asset Management Co (KAM) to create a new organizational structure to boost the group’s asset management business.

Following the merger, the new firm will leverage the strengths of both MUAM and KAM to enhance its asset management ability as well as enhance management efficiency and deliver value-added asset management services.

In addition, the new company aims to boost its services by combining MUAM and KAM’s expertise to enhance its line-up of products that address a range of customer needs. It will also continue to provide asset management services.

Terms of the deal including new company’s post-merger name, shareholding structure and personnel have not been disclosed.

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