# Mitsubishi UFJ Financial Group, Inc. competitors: and the alternatives

Source: https://www.bankingnewsai.com/banks/mufg/competitors
Last updated: Oct 20, 2026

*Part of the [Mitsubishi UFJ Financial Group, Inc. AI strategy profile](https://www.bankingnewsai.com/banks/mufg). Peer group: HSBC, JPMorgan Chase, Citigroup, BNP Paribas SA, Barclays PLC, Deutsche Bank, Banco Santander, Morgan Stanley.*

## Who are Mitsubishi UFJ Financial Group, Inc.'s competitors, and what are the alternatives?

MUFG competes as Japan's largest bank group, with ¥425.58 trillion of total assets at March 31, 2026, and its 20-F names its rivals line by line. At home they are the other two megabank groups, Mizuho and Sumitomo Mitsui Financial Group; government-backed lenders including Japan Post Bank; commercial banks such as Resona and SBI Shinsei; Nomura and Daiwa in securities; and internet-based banking and securities groups, which the filing lists as Rakuten, SBI, NTT and PayPay. That last group is where non-banks are the real rival. Rakuten Bank, Japan's largest internet bank by accounts, nearly tripled its deposits in five years to ¥11.7 trillion (June 2025); SBI Securities had 12.5 million brokerage accounts and Rakuten Securities 10.9 million in March 2024; PayPay's app had about 60 million registered users. SMFG's Olive app reached 6.5 million accounts by September 2025, while MUFG's digital bank, MUFG Emut Bank, opens in early 2027. Abroad, the 20-F says MUFG faces local and global commercial banks, fintechs and non-bank lenders. Nikkei found MUFG led global project financing for two consecutive years (May 2026), and the three Japanese megabanks led 33% more US syndicated loans in 2024 than in 2023. In Asia, its partner banks Krungsri and Bank Danamon compete with Thailand's Big Four and with Southeast Asian bidders such as OCBC, CIMB and Maybank. MUFG also partners with rivals: it holds about 23.9% of Morgan Stanley's voting rights and runs two Japanese securities joint ventures with it. ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm), [Reuters](https://reuters.com/markets/deals/japans-rakuten-prices-bank-ipo-top-downgraded-range-2023-04-13), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2025/08/14/companies/rakuten-bank-jgb-buying-halt), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2024/07/08/companies/japan-paypay-securities-expansion-plan), [The Japan Times (Jiji)](https://japantimes.co.jp/business/2025/12/18/companies/mitsui-sumitomo-net-profit), [Mitsubishi UFJ Financial Group, Inc.](https://www.mufg.jp/dam/pressrelease/2026/pdf/news-20260924-001_en.pdf), [Nikkei Asia](https://asia.nikkei.com/business/finance/global-infrastructure-funding-doubles-over-5-years-led-by-japanese-banks), [Nikkei Asia](https://asia.nikkei.com/business/finance/japan-megabanks-lead-growing-share-of-us-syndicated-loans), [Nikkei Asia](https://asia.nikkei.com/Business/Finance/Bank-of-Ayudhya-BTMU-team-up-to-challenge-Thailand-s-Big-Four), [Reuters](https://reuters.com/business/finance/indonesias-panin-bank-stake-sale-draws-southeast-asia-lenders-sources-say-2024-12-10))

## What does MUFG say about its competition?

MUFG's annual report on Form 20-F for the fiscal year ended March 31, 2026 (filed July 6, 2026), Item 4 "Competition": "We face strong competition in all of our principal areas of operation. The structural reforms in financial industry regulations and recent developments in financial markets have resulted in some significant changes in the Japanese financial system and prompted banks to merge or reorganize their operations. In addition, development of new technologies such as artificial intelligence and blockchain has also allowed non-financial institutions to enter the financial services industry with alternative services, thus changing the nature of competition from other financial institutions as well as from other types of businesses." ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm))

On Japan, the 20-F says: "Our major competitors in Japan include: Japan's other major banking groups: Mizuho Financial Group and Sumitomo Mitsui Financial Group; Government financial institutions: Japan Finance Corporation, Japan Post Bank, Development Bank of Japan and Japan Bank for International Cooperation; Other commercial banking institutions: Resona Bank, SBI Shinsei Bank, regional banks, and credit associations (shinkin banks); Securities companies and investment banks: Nomura group and Daiwa group; Other internet-based banking and securities institutions: Rakuten group, SBI group, NTT group and PayPay Corporation; and Asset management companies." ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm))

Abroad: "In foreign markets, we face competition from local and global commercial banks, money center banks, regional banks, thrift institutions, asset management companies, investment advisory companies, credit unions, fintech companies, non-bank lending and credit institutions and other similar financial institutions." ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm))

The risk factors add: "Competition in the financial services industry may further intensify due to the increase in the number of non-financial institutions entering the financial services industry with alternative services, such as electronic settlement services, as a result of development of new technologies as well as significant changes in regulatory barriers." Competition may also increase, the filing says, as "global financial institutions enhance their competitive strength through development or adoption of new technologies as well as mergers, acquisitions, strategic alliances, and profit enhancement and other measures." ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm))

## Who competes with MUFG in each of its businesses?

| Business line | Competitor | Type | Why it competes |
| --- | --- | --- | --- |
| Japan: megabanks and government-backed lenders | Sumitomo Mitsui Financial Group (SMBC) | Bank | MUFG's 20-F names SMFG as one of Japan's other major banking groups. SMFG expected a record ¥1.5 trillion net profit for fiscal 2025, against MUFG's forecast of a record ¥2.7 trillion for fiscal 2026, and its Olive retail app had 6.5 million accounts by September 2025. ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm), [The Japan Times (Jiji)](https://japantimes.co.jp/business/2025/12/18/companies/mitsui-sumitomo-net-profit), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2026/08/04/companies/mufg-earnings-up-on-lending-demand)) |
| Japan: megabanks and government-backed lenders | Mizuho Financial Group | Bank | The 20-F names Mizuho as the other major banking group; The Japan Times calls it Japan's third-largest lender. In May 2026 it agreed to take 10.52% of Rakuten Bank, combining a megabank with MUFG's largest online rival. ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2026/02/27/companies/mizuho-clerical-jobs-ai), [The Japan Times](https://japantimes.co.jp/business/2026/05/21/companies/mizuho-stake-rakuten)) |
| Japan: megabanks and government-backed lenders | Japan Post Bank | Bank | MUFG's 20-F lists Japan Post Bank among the government financial institutions it competes with; Japan Post Holdings held 49.90% of its shares at March 31, 2026, and since June 2025 it no longer needs authorisation to enter new businesses. ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm)) |
| Japan: megabanks and government-backed lenders | Resona and SBI Shinsei Bank | Bank | The 20-F names Resona Bank and SBI Shinsei Bank, with regional banks and shinkin banks, as the other commercial banking institutions MUFG competes with in Japan. ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm)) |
| Online banking in Japan | Rakuten Bank (Rakuten group) | Fintech | MUFG's 20-F names the Rakuten group among internet-based rivals. Rakuten Bank was Japan's largest internet bank by accounts, with more than 13 million at end-2022, and its deposits almost tripled in five years to ¥11.7 trillion at June 2025, though still dwarfed by the biggest lenders. ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm), [Reuters](https://reuters.com/markets/deals/japans-rakuten-prices-bank-ipo-top-downgraded-range-2023-04-13), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2025/08/14/companies/rakuten-bank-jgb-buying-halt)) |
| Online banking in Japan | SBI group | Fintech | The 20-F lists the SBI group among internet-based banking and securities rivals and SBI Shinsei Bank among commercial banks; SBI Securities was Japan's largest online brokerage by accounts, with 12.5 million in March 2024. ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2024/07/08/companies/japan-paypay-securities-expansion-plan)) |
| Online banking in Japan | SMBC Olive | Bank | Nikkei reports that Mizuho, SMBC and MUFG are adding lifestyle perks beyond interest to compete for retail deposits (August 2026). SMFG aims for 12 million Olive accounts within five years of the 2023 launch; MUFG's digital bank, MUFG Emut Bank, is due to open between January and March 2027. ([Nikkei Asia](https://asia.nikkei.com/business/finance/japan-s-megabanks-expand-lifestyle-perks-to-compete-for-retail-deposits), [The Japan Times (Jiji)](https://japantimes.co.jp/business/2025/12/18/companies/mitsui-sumitomo-net-profit), [Mitsubishi UFJ Financial Group, Inc.](https://www.mufg.jp/dam/pressrelease/2026/pdf/news-20260924-001_en.pdf)) |
| Payments and cashless apps | PayPay | Payments company | MUFG's 20-F names PayPay Corporation among internet-based rivals, and its risk factors flag non-financial firms entering finance with 'electronic settlement services'. PayPay's app had about 60 million registered users, according to The Japan Times (July 2024). ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2024/07/08/companies/japan-paypay-securities-expansion-plan)) |
| Payments and cashless apps | NTT group | Other | The 20-F names the NTT group alongside Rakuten, SBI and PayPay as internet-based banking and securities competitors in Japan. ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm)) |
| Payments and cashless apps | Google (partner) | Big tech | Big tech is a partner rather than a rival on MUFG's record: on May 7, 2026 MUFG agreed a retail alliance with Google covering agentic commerce and agentic payments infrastructure on Google Cloud. ([Mitsubishi UFJ Financial Group, Inc.](https://www.mufg.jp/dam/pressrelease/2026/pdf/news-20260507-001_ja.pdf), [The Japan Times](https://japantimes.co.jp/business/2026/05/07/companies/mufg-google-partnership)) |
| Securities and wealth management in Japan | Nomura | Broker or asset manager | MUFG's 20-F names the Nomura group among securities companies and investment banks it competes with in Japan; The Japan Times says Nomura, Daiwa and units of the largest banks dominate traditional brokerage. ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2024/07/08/companies/japan-paypay-securities-expansion-plan)) |
| Securities and wealth management in Japan | Daiwa Securities | Broker or asset manager | The 20-F names the Daiwa group alongside Nomura; MUFG runs its own securities business in Japan through two joint ventures with Morgan Stanley. ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm)) |
| Securities and wealth management in Japan | Rakuten Securities | Broker or asset manager | Rakuten Securities had 10.9 million online brokerage accounts in March 2024, second to SBI; Nikkei reported that megabank brokerages were hiring wealth staff for affluent clients as online competitors peel away general demand with commission-free trading. ([The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2024/07/08/companies/japan-paypay-securities-expansion-plan), [Nikkei Asia](https://asia.nikkei.com/business/markets/wealth-management/japan-megabank-brokerages-ramp-up-wealth-management-business)) |
| Securities and wealth management in Japan | [Morgan Stanley (partner)](https://www.bankingnewsai.com/banks/morgan-stanley) | Bank | A partner rather than a rival: MUFG holds about 23.9% of Morgan Stanley's voting rights, operates two joint-venture securities companies with it in Japan and joint corporate finance in the US, and says it will bring Morgan Stanley's expertise into AI for wealth management. ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm), [Mitsubishi UFJ Financial Group, Inc.](https://www.mufg.jp/dam/ir/presentation/2026/pdf/main_qa260908_en.pdf)) |
| Small and midsize companies in Japan | SMBC (Trunk) | Bank | The Japan Times reports Japan's megabanks are launching services for small and midsize companies to tap their funding demand after the Bank of Japan's rate rises; SMBC's Trunk, launched in May 2025, bundles account opening, payments and accounting online. ([The Japan Times (Jiji)](https://japantimes.co.jp/business/2026/09/14/companies/banks-smes-services)) |
| Small and midsize companies in Japan | Mizuho (with Rakuten Bank) | Bank | Mizuho Bank has also started services aimed at SMEs, and its May 2026 alliance with Rakuten Bank targets funding demand from small companies and sole proprietors that run stores on the Rakuten Ichiba marketplace. ([The Japan Times (Jiji)](https://japantimes.co.jp/business/2026/09/14/companies/banks-smes-services), [The Japan Times](https://japantimes.co.jp/business/2026/05/21/companies/mizuho-stake-rakuten)) |
| Corporate lending, project finance and syndicated loans | Mizuho and SMBC (abroad) | Bank | Nikkei reports that Japan's three megabanks, MUFG, SMFG and Mizuho, led 33% more US syndicated loans in 2024 than in 2023, filling a gap left by US lenders focused on investment banking; SMBC is pushing its Asia bankers toward more complex, fee-generating financing (July 2026). ([Nikkei Asia](https://asia.nikkei.com/business/finance/japan-megabanks-lead-growing-share-of-us-syndicated-loans), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2026/07/21/companies/smbc-japan-banks-pivot-to-riskier-deals)) |
| Corporate lending, project finance and syndicated loans | [JPMorgan Chase](https://www.bankingnewsai.com/banks/jpmorgan-chase) | Bank | Both a co-lender and a rival in large financings: Reuters, citing the FT, reported in August 2025 that JPMorgan and MUFG were in talks to underwrite a $22 billion loan for a Texas data centre; MUFG's 20-F calls it one of the world's top providers of project finance, and Nikkei found it led global project financing for two consecutive years. ([Reuters](https://reuters.com/business/finance/jpmorgan-mufg-near-22-billion-data-center-financing-deal-texas-ft-reports-2025-08-20), [Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm), [Nikkei Asia](https://asia.nikkei.com/business/finance/global-infrastructure-funding-doubles-over-5-years-led-by-japanese-banks)) |
| Asia partner banks: Thailand and Indonesia | Kasikornbank and Thailand's Big Four | Bank | When MUFG's bank merged its Bangkok branch into Krungsri in 2014, Nikkei described Krungsri as Thailand's fifth-largest bank by assets set to catch up with the 'Big Four', with Kasikornbank fourth. Krungsri now runs 556 branches and the country's largest credit card issuer, per the 20-F. ([Nikkei Asia](https://asia.nikkei.com/Business/Finance/Bank-of-Ayudhya-BTMU-team-up-to-challenge-Thailand-s-Big-Four), [Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm)) |
| Asia partner banks: Thailand and Indonesia | [OCBC](https://www.bankingnewsai.com/banks/ocbc) | Bank | Reuters reported in December 2024 that OCBC and CIMB, Southeast Asia's second- and fifth-largest banks, were vying for Indonesia's Panin Bank, with MUFG and Sumitomo Mitsui among other interested buyers; MUFG owns 92.47% of Bank Danamon and is exploring an integration with its Jakarta branch, expected within 2027. ([Reuters](https://reuters.com/business/finance/indonesias-panin-bank-stake-sale-draws-southeast-asia-lenders-sources-say-2024-12-10), [Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm)) |
| Asia partner banks: Thailand and Indonesia | CIMB and Maybank | Bank | Reuters named CIMB as a bidder and Maybank, Southeast Asia's fourth-largest bank, as preparing a potential bid for Panin Bank, the kind of Indonesian franchise MUFG built through Bank Danamon and its multi-finance unit Adira. ([Reuters](https://reuters.com/business/finance/indonesias-panin-bank-stake-sale-draws-southeast-asia-lenders-sources-say-2024-12-10), [Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm)) |

## How do the AI and digital offerings of MUFG's competitors compare?

MUFG first, then each competitor. Use-case counts, index scores and latest moves are computed from our profiles of each company; "No profile" means this site has no page on it yet.

| Company | AI or digital offering | On the record (our profiles) | Latest dated AI move |
| --- | --- | --- | --- |
| [Mitsubishi UFJ Financial Group, Inc. (this page)](https://www.bankingnewsai.com/banks/mufg) | Hello AI@MUFG, ChatGPT Enterprise, Jinba and AI credit experts ([Mitsubishi UFJ Financial Group, Inc.](https://www.mufg.jp/dam/ir/presentation/2025/pdf/speech2603_en.pdf), [Mitsubishi UFJ Financial Group, Inc.](https://www.mufg.jp/dam/ir/presentation/2025/pdf/slides2603_en.pdf), [Mitsubishi UFJ Financial Group, Inc.](https://www.mufg.jp/dam/pressrelease/2025/pdf/news-20251112-001_ja.pdf), [Mitsubishi UFJ Financial Group, Inc.](https://www.mufg.jp/dam/ir/report/annual_report/pdf/ir2026_all_en.pdf), [Mitsubishi UFJ Financial Group, Inc.](https://www.mufg.jp/dam/pressrelease/2026/pdf/news-20260924-001_en.pdf)) | [Index 73 (#40); 16 use cases, 6 in production](https://www.bankingnewsai.com/banks/mufg) | AWS: AI Flowchart cuts branch-procedure standardisation work (Oct 8, 2026) ([Amazon Web Services (AWS Database Blog)](https://aws.amazon.com/blogs/database/how-mufg-bank-aims-to-cut-flowchart-work-by-up-to-90-with-ontology-grounded-ai-on-amazon-neptune-and-amazon-bedrock)) |
| Sumitomo Mitsui Financial Group (SMBC) | Trunk online SME service with AI alerts on government subsidies; about ¥1 trillion of IT investment including AI planned ([The Japan Times (Jiji)](https://japantimes.co.jp/business/2026/09/14/companies/banks-smes-services), [The Japan Times (Jiji)](https://japantimes.co.jp/business/2025/12/18/companies/mitsui-sumitomo-net-profit)) | No profile | Not disclosed |
| Mizuho Financial Group | Azure OpenAI for all 45,000 Japanese bank staff since 2023; SoftBank-OpenAI 'Cristal intelligence' targeting ¥300 billion of effects by fiscal 2030 ([The Japan Times (Bloomberg)](https://japantimes.co.jp/news/2023/06/27/business/corporate-business/mizuho-ai-access), [The Japan Times](https://japantimes.co.jp/business/2025/07/18/tech/mizuho-ai-partner-softbank)) | No profile | Not disclosed |
| Japan Post Bank | Not disclosed | No profile | Not disclosed |
| Resona and SBI Shinsei Bank | Not disclosed | No profile | Not disclosed |
| Rakuten Bank (Rakuten group) | Not disclosed | No profile | Not disclosed |
| SBI group | Not disclosed | No profile | Not disclosed |
| SMBC Olive | Not disclosed | No profile | Not disclosed |
| PayPay | Not disclosed | No profile | Not disclosed |
| NTT group | Not disclosed | No profile | Not disclosed |
| Google (partner) | Not disclosed | No profile | Not disclosed |
| Nomura | Not disclosed | No profile | Not disclosed |
| Daiwa Securities | Not disclosed | No profile | Not disclosed |
| Rakuten Securities | Not disclosed | No profile | Not disclosed |
| [Morgan Stanley (partner)](https://www.bankingnewsai.com/banks/morgan-stanley) | AI @ Morgan Stanley Assistant used by 98% of advisor teams ([Morgan Stanley](https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch)) | [Index 66.6 (#51); 14 use cases, 9 in production](https://www.bankingnewsai.com/banks/morgan-stanley) | OpenAI launches ChatGPT for Financial Services, shaped with Morgan Stanley and Evercore (Sep 10, 2026) ([OpenAI](https://openai.com/index/introducing-chatgpt-financial-services/), [Fortune](https://fortune.com/2026/09/10/openai-courts-wall-street-with-chatgpt-for-financial-services-developed-with-morgan-stanley/)) |
| SMBC (Trunk) | AI in Trunk tells users about subsidies from the national government and other sources ([The Japan Times (Jiji)](https://japantimes.co.jp/business/2026/09/14/companies/banks-smes-services)) | No profile | Not disclosed |
| Mizuho (with Rakuten Bank) | Not disclosed | No profile | Not disclosed |
| Mizuho and SMBC (abroad) | Not disclosed | No profile | Not disclosed |
| [JPMorgan Chase](https://www.bankingnewsai.com/banks/jpmorgan-chase) | LLM Suite with 150,000 weekly users ([JPMorganChase](https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/2026-company-updates/company-update-chairman-ceo-transcript.pdf)) | [Index 87.5 (#9); 15 use cases, 8 in production](https://www.bankingnewsai.com/banks/jpmorgan-chase) | Q3 2026 call: outside AI agents stay blocked; AI spend put near $700 million (Oct 13, 2026) ([CNBC](https://www.cnbc.com/2026/10/13/jpmorgan-ai-agents-account-access.html), [Banking Dive](https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870), [American Banker](https://www.americanbanker.com/news/jpmorgan-warns-of-risks-to-consumers-who-rely-on-ai-agents)) |
| Kasikornbank and Thailand's Big Four | Not disclosed | No profile | Not disclosed |
| [OCBC](https://www.bankingnewsai.com/banks/ocbc) | HELIOS agentic due diligence for private banking; OCBC GPT for 30,000 staff ([Oversea-Chinese Banking Corporation](https://ocbc.com/group/media/release/2026/ocbc-harnesses-agentic-ai-to-quicken-onboarding-customers), [Oversea-Chinese Banking Corporation](https://ocbc.com/group/media/release/2023/ocbc-is-first-singapore-bank-to-roll-out-generative-ai-chatbot-to-all-employees-globally)) | [Index 73.4 (#37); 14 use cases, 11 in production](https://www.bankingnewsai.com/banks/ocbc) | MAS issues final AI Risk Management Guidelines (Oct 7, 2026) ([The Business Times](https://businesstimes.com.sg/singapore/economy-policy/mas-rolls-out-ai-risk-management-guidelines-singapores-financial-sector)) |
| CIMB and Maybank | Not disclosed | No profile | Not disclosed |

## Who should look beyond MUFG, and where?

| If you are | Look at | Why |
| --- | --- | --- |
| Savers who want an internet-only bank tied to an e-commerce points ecosystem | Rakuten Bank | MUFG's own digital bank, MUFG Emut Bank, was licensed on September 24, 2026 and opens between January and March 2027. Rakuten Bank, Japan's largest internet bank by accounts, steers users through Rakuten's points ecosystem, and its deposits reached ¥11.7 trillion in June 2025. ([Mitsubishi UFJ Financial Group, Inc.](https://www.mufg.jp/dam/pressrelease/2026/pdf/news-20260924-001_en.pdf), [Reuters](https://reuters.com/markets/deals/japans-rakuten-prices-bank-ipo-top-downgraded-range-2023-04-13), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2025/08/14/companies/rakuten-bank-jgb-buying-halt)) |
| Retail customers who want an all-in-one banking, card and investment app today | SMBC Olive | SMFG's Olive had 6.5 million accounts at the end of September 2025, ahead of forecast. MUFG's equivalents (an AI concierge in its apps, an AI account-opening chat and MAP AI under the Emut brand) were announced in November 2025 and are tied to the digital bank due in early 2027. ([The Japan Times (Jiji)](https://japantimes.co.jp/business/2025/12/18/companies/mitsui-sumitomo-net-profit), [Mitsubishi UFJ Financial Group, Inc.](https://www.mufg.jp/dam/pressrelease/2025/pdf/news-20251112-001_ja.pdf), [Mitsubishi UFJ Financial Group, Inc.](https://www.mufg.jp/dam/ir/report/annual_report/pdf/ir2026_all_en.pdf)) |
| Self-directed investors who want the largest online brokerages | SBI Securities or Rakuten Securities | SBI Securities (12.5 million accounts) and Rakuten Securities (10.9 million) led online brokerage accounts in March 2024. MUFG's securities business in Japan runs through joint ventures with Morgan Stanley, and Nikkei reports megabank brokerages focus on affluent clients with personal service. ([The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2024/07/08/companies/japan-paypay-securities-expansion-plan), [Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm), [Nikkei Asia](https://asia.nikkei.com/business/markets/wealth-management/japan-megabank-brokerages-ramp-up-wealth-management-business)) |
| Small companies that want account opening, payments and accounting in one online package | SMBC Trunk | SMBC launched Trunk in May 2025 for small and midsize companies, handling invoice payments by smartphone and using AI to tell users about subsidies. MUFG's SME-related AI on the record is internal, such as satellite imagery and AI for collateral checks on small-business loans from fiscal 2027. ([The Japan Times (Jiji)](https://japantimes.co.jp/business/2026/09/14/companies/banks-smes-services), [Nikkei Asia](https://asia.nikkei.com/business/companies/japan-s-mufg-bank-to-tap-ai-satellite-images-for-collateral-appraisals)) |

## How big are MUFG's main rivals in Japan?

Figures as each firm or outlet reported them. Measures differ between rows, so read each row on its own.

| Firm | Measure | Figure | As of |
| --- | --- | --- | --- |
| MUFG | Total assets; net income forecast | ¥425.58 trillion; record ¥2.7 trillion forecast for the year to March 2027 | March 31, 2026; August 4, 2026 ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2026/08/04/companies/mufg-earnings-up-on-lending-demand)) |
| SMFG | Net profit expected; Olive accounts | Record ¥1.5 trillion for fiscal 2025; 6.5 million accounts | December 2025 ([The Japan Times (Jiji)](https://japantimes.co.jp/business/2025/12/18/companies/mitsui-sumitomo-net-profit)) |
| Rakuten Bank | Deposits; accounts | ¥11.7 trillion; more than 13 million accounts (end-2022) | June 2025; April 2023 ([The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2025/08/14/companies/rakuten-bank-jgb-buying-halt), [Reuters](https://reuters.com/markets/deals/japans-rakuten-prices-bank-ipo-top-downgraded-range-2023-04-13)) |
| SBI Securities and Rakuten Securities | Online brokerage accounts | 12.5 million and 10.9 million | March 2024 ([The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2024/07/08/companies/japan-paypay-securities-expansion-plan)) |
| PayPay | Registered app users | About 60 million | July 2024 report ([The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2024/07/08/companies/japan-paypay-securities-expansion-plan)) |

## Where does MUFG partner with firms it competes against?

MUFG's 20-F lists securities companies and investment banks as competitors, yet it runs its Japanese securities business through two joint ventures with Morgan Stanley and holds about 23.9% of Morgan Stanley's voting rights, with two seats on its board. Morgan Stanley contributed more than a quarter of MUFG's net income in the April-June 2026 quarter. In large financings, JPMorgan and MUFG were reported in August 2025 to be co-underwriting a $22 billion data-centre loan in Texas. ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2026/08/04/companies/mufg-earnings-up-on-lending-demand), [Reuters](https://reuters.com/business/finance/jpmorgan-mufg-near-22-billion-data-center-financing-deal-texas-ft-reports-2025-08-20))

Among the non-banks its filing names, MUFG has chosen technology partners rather than fintech stakes in Japan's payment apps: OpenAI, Sakana AI and Google sit behind its AI and retail plans. Its megabank rival Mizuho has gone the other way with an online bank, taking 10.52% of Rakuten Bank from October 2026 while Mizuho Securities keeps 49% of Rakuten Securities. ([Mitsubishi UFJ Financial Group, Inc.](https://www.mufg.jp/dam/pressrelease/2025/pdf/news-20251112-001_ja.pdf), [Mitsubishi UFJ Financial Group, Inc.](https://www.mufg.jp/dam/pressrelease/2025/pdf/news-20251117-001_en.pdf), [Mitsubishi UFJ Financial Group, Inc.](https://www.mufg.jp/dam/pressrelease/2026/pdf/news-20260507-001_ja.pdf), [The Japan Times](https://japantimes.co.jp/business/2026/05/21/companies/mizuho-stake-rakuten))

## Common questions

### Who are MUFG's biggest competitors?

MUFG's 20-F names Mizuho Financial Group and Sumitomo Mitsui Financial Group as Japan's other major banking groups, followed by government lenders such as Japan Post Bank, commercial banks such as Resona and SBI Shinsei, Nomura and Daiwa in securities, and internet-based groups Rakuten, SBI, NTT and PayPay. Abroad it competes with local and global banks, fintechs and non-bank lenders. ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm))

### MUFG vs SMBC vs Mizuho: which is biggest?

The Japan Times calls MUFG Japan's largest lender; it reported ¥425.58 trillion of total assets at March 31, 2026, and forecast a record ¥2.7 trillion of net income for the year to March 2027. SMFG expected a record ¥1.5 trillion for fiscal 2025, and The Japan Times describes Mizuho as the third-largest lender. ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2026/08/04/companies/mufg-earnings-up-on-lending-demand), [The Japan Times (Jiji)](https://japantimes.co.jp/business/2025/12/18/companies/mitsui-sumitomo-net-profit), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2026/02/27/companies/mizuho-clerical-jobs-ai))

### Are Rakuten and PayPay competitors of MUFG?

MUFG says so: its 20-F lists the Rakuten group, SBI group, NTT group and PayPay Corporation as internet-based banking and securities competitors. Rakuten Bank is Japan's largest internet bank by accounts, with deposits of ¥11.7 trillion in June 2025, and PayPay's app had about 60 million registered users. ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm), [Reuters](https://reuters.com/markets/deals/japans-rakuten-prices-bank-ipo-top-downgraded-range-2023-04-13), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2025/08/14/companies/rakuten-bank-jgb-buying-halt), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2024/07/08/companies/japan-paypay-securities-expansion-plan))

### Is Morgan Stanley a competitor or a partner of MUFG?

A partner. MUFG holds about 23.9% of Morgan Stanley's voting rights, has two board representatives, runs two joint-venture securities companies with it in Japan and joint corporate finance operations in the US. Morgan Stanley accounted for more than a quarter of MUFG's net income in the April-June 2026 quarter. ([Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm), [The Japan Times (Bloomberg)](https://japantimes.co.jp/business/2026/08/04/companies/mufg-earnings-up-on-lending-demand))

### Who competes with MUFG in project finance and corporate lending?

Mainly the other Japanese megabanks and global banks. Nikkei found MUFG took the top spot in project financing for two consecutive years (May 2026), and that MUFG, SMFG and Mizuho led 33% more US syndicated loans in 2024 than in 2023. JPMorgan has been both rival and co-underwriter, on a reported $22 billion data-centre loan. ([Nikkei Asia](https://asia.nikkei.com/business/finance/global-infrastructure-funding-doubles-over-5-years-led-by-japanese-banks), [Nikkei Asia](https://asia.nikkei.com/business/finance/japan-megabanks-lead-growing-share-of-us-syndicated-loans), [Reuters](https://reuters.com/business/finance/jpmorgan-mufg-near-22-billion-data-center-financing-deal-texas-ft-reports-2025-08-20))

### Who are MUFG's competitors in Southeast Asia?

Through Krungsri in Thailand, MUFG faces the country's Big Four banks, including Kasikornbank. Through Bank Danamon in Indonesia it meets regional groups that bid for Indonesian banks: Reuters named OCBC, CIMB and Maybank, plus Sumitomo Mitsui, as suitors for Panin Bank in 2024. Its other partner banks are VietinBank and Security Bank. ([Nikkei Asia](https://asia.nikkei.com/Business/Finance/Bank-of-Ayudhya-BTMU-team-up-to-challenge-Thailand-s-Big-Four), [Reuters](https://reuters.com/business/finance/indonesias-panin-bank-stake-sale-draws-southeast-asia-lenders-sources-say-2024-12-10), [Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F)](https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm))

### Who competes with MUFG for small business clients in Japan?

The other megabanks are building online SME offerings as rising rates lift loan demand. SMBC's Trunk, launched in May 2025, combines account opening, payments and accounting and uses AI to flag subsidies; Mizuho has SME services and an alliance with Rakuten Bank aimed at merchants on Rakuten Ichiba. MUFG plans satellite imagery and AI for small-business collateral checks from fiscal 2027. ([The Japan Times (Jiji)](https://japantimes.co.jp/business/2026/09/14/companies/banks-smes-services), [The Japan Times](https://japantimes.co.jp/business/2026/05/21/companies/mizuho-stake-rakuten), [Nikkei Asia](https://asia.nikkei.com/business/companies/japan-s-mufg-bank-to-tap-ai-satellite-images-for-collateral-appraisals))

### What are alternatives to MUFG for online banking in Japan?

Rakuten Bank, Japan's largest internet bank by accounts, and SMFG's Olive app, with 6.5 million accounts by September 2025, are already in market. MUFG's own digital bank, MUFG Emut Bank, received its licence on September 24, 2026 and is due to open between January and March 2027. ([Reuters](https://reuters.com/markets/deals/japans-rakuten-prices-bank-ipo-top-downgraded-range-2023-04-13), [The Japan Times (Jiji)](https://japantimes.co.jp/business/2025/12/18/companies/mitsui-sumitomo-net-profit), [Mitsubishi UFJ Financial Group, Inc.](https://www.mufg.jp/dam/pressrelease/2026/pdf/news-20260924-001_en.pdf))

## Peers on this site

- [HSBC AI strategy](https://www.bankingnewsai.com/banks/hsbc) · [vs peers](https://www.bankingnewsai.com/banks/hsbc/vs-peers)
- [JPMorgan Chase AI strategy](https://www.bankingnewsai.com/banks/jpmorgan-chase) · [vs peers](https://www.bankingnewsai.com/banks/jpmorgan-chase/vs-peers)
- [Citigroup AI strategy](https://www.bankingnewsai.com/banks/citigroup) · [vs peers](https://www.bankingnewsai.com/banks/citigroup/vs-peers)
- [BNP Paribas SA AI strategy](https://www.bankingnewsai.com/banks/bnp-paribas) · [vs peers](https://www.bankingnewsai.com/banks/bnp-paribas/vs-peers)
- [Barclays PLC AI strategy](https://www.bankingnewsai.com/banks/barclays) · [vs peers](https://www.bankingnewsai.com/banks/barclays/vs-peers)
- [Deutsche Bank AI strategy](https://www.bankingnewsai.com/banks/deutsche-bank) · [vs peers](https://www.bankingnewsai.com/banks/deutsche-bank/vs-peers)
- [Banco Santander AI strategy](https://www.bankingnewsai.com/banks/santander) · [vs peers](https://www.bankingnewsai.com/banks/santander/vs-peers)
- [Morgan Stanley AI strategy](https://www.bankingnewsai.com/banks/morgan-stanley) · [vs peers](https://www.bankingnewsai.com/banks/morgan-stanley/vs-peers)

## Sources

1. Mitsubishi UFJ Financial Group, Inc. Annual Report on Form 20-F for the fiscal year ended March 31, 2026 — Mitsubishi UFJ Financial Group, Inc. (SEC Form 20-F), Jul 6, 2026. https://www.sec.gov/Archives/edgar/data/67088/000162828026047095/mufg-20260331.htm
2. Rakuten Bank prices IPO, Japan's biggest in years, at top of scaled-back range — Reuters, Apr 13, 2023. https://reuters.com/markets/deals/japans-rakuten-prices-bank-ipo-top-downgraded-range-2023-04-13
3. Rakuten Bank to refrain from JGB buying as more rate hikes seen — The Japan Times (Bloomberg), Aug 14, 2025. https://japantimes.co.jp/business/2025/08/14/companies/rakuten-bank-jgb-buying-halt
4. SoftBank group firm PayPay Securities aims to double accounts — The Japan Times (Bloomberg), Jul 8, 2024. https://japantimes.co.jp/business/2024/07/08/companies/japan-paypay-securities-expansion-plan
5. Sumitomo Mitsui may hit ¥2 trillion net profit earlier than expected — The Japan Times (Jiji), Dec 18, 2025. https://japantimes.co.jp/business/2025/12/18/companies/mitsui-sumitomo-net-profit
6. MUFG Subsidiary Receives Banking License, Changes Name to MUFG Emut Bank — Mitsubishi UFJ Financial Group, Inc., Sep 24, 2026. https://www.mufg.jp/dam/pressrelease/2026/pdf/news-20260924-001_en.pdf
7. Global infrastructure funding doubles over 5 years, led by Japanese banks — Nikkei Asia, May 23, 2026. https://asia.nikkei.com/business/finance/global-infrastructure-funding-doubles-over-5-years-led-by-japanese-banks
8. Japan megabanks lead growing share of US syndicated loans — Nikkei Asia, Jun 12, 2025. https://asia.nikkei.com/business/finance/japan-megabanks-lead-growing-share-of-us-syndicated-loans
9. Bank of Ayudhya, BTMU team up to challenge Thailand's 'Big Four' — Nikkei Asia, Apr 10, 2014. https://asia.nikkei.com/Business/Finance/Bank-of-Ayudhya-BTMU-team-up-to-challenge-Thailand-s-Big-Four
10. Indonesia's Panin Bank stake sale draws Southeast Asia lenders, sources say — Reuters, Dec 10, 2024. https://reuters.com/business/finance/indonesias-panin-bank-stake-sale-draws-southeast-asia-lenders-sources-say-2024-12-10
11. MUFG profit beats estimates capping bumper quarter for Japan's banks — The Japan Times (Bloomberg), Aug 4, 2026. https://japantimes.co.jp/business/2026/08/04/companies/mufg-earnings-up-on-lending-demand
12. Mizuho plans to replace 5,000 clerical jobs with AI in 10 years — The Japan Times (Bloomberg), Feb 27, 2026. https://japantimes.co.jp/business/2026/02/27/companies/mizuho-clerical-jobs-ai
13. Mizuho Bank to acquire stake in Rakuten Bank — The Japan Times, May 21, 2026. https://japantimes.co.jp/business/2026/05/21/companies/mizuho-stake-rakuten
14. Japan's megabanks expand lifestyle perks to compete for retail deposits — Nikkei Asia, Aug 20, 2026. https://asia.nikkei.com/business/finance/japan-s-megabanks-expand-lifestyle-perks-to-compete-for-retail-deposits
15. MUFGとGoogleのリテール領域における戦略的提携について — Mitsubishi UFJ Financial Group, Inc., May 7, 2026. https://www.mufg.jp/dam/pressrelease/2026/pdf/news-20260507-001_ja.pdf
16. MUFG to form strategic partnership with Google — The Japan Times, May 7, 2026. https://japantimes.co.jp/business/2026/05/07/companies/mufg-google-partnership
17. Japan megabank brokerages ramp up wealth management business — Nikkei Asia, Sep 12, 2024. https://asia.nikkei.com/business/markets/wealth-management/japan-megabank-brokerages-ramp-up-wealth-management-business
18. MUFG Investors Day 2026: Main Q&A — Mitsubishi UFJ Financial Group, Inc., Sep 8, 2026. https://www.mufg.jp/dam/ir/presentation/2026/pdf/main_qa260908_en.pdf
19. Japanese megabanks roll out new services to tap lucrative SME market — The Japan Times (Jiji), Sep 14, 2026. https://japantimes.co.jp/business/2026/09/14/companies/banks-smes-services
20. Credit Suisse veteran shakes up SMBC in new era for Japan banks — The Japan Times (Bloomberg), Jul 21, 2026. https://japantimes.co.jp/business/2026/07/21/companies/smbc-japan-banks-pivot-to-riskier-deals
21. JPMorgan and MUFG near $22 billion data center financing deal in Texas, FT reports — Reuters, Aug 20, 2025. https://reuters.com/business/finance/jpmorgan-mufg-near-22-billion-data-center-financing-deal-texas-ft-reports-2025-08-20
22. FY2025 IR Presentation: Speech Script — Mitsubishi UFJ Financial Group, Inc., May 19, 2026. https://www.mufg.jp/dam/ir/presentation/2025/pdf/speech2603_en.pdf
23. FY2025 IR Presentation: Presentation Material — Mitsubishi UFJ Financial Group, Inc., May 19, 2026. https://www.mufg.jp/dam/ir/presentation/2025/pdf/slides2603_en.pdf
24. AIを活用した業務改革およびリテール領域の新サービス創出に向けた取り組みについて — Mitsubishi UFJ Financial Group, Inc., Nov 12, 2025. https://www.mufg.jp/dam/pressrelease/2025/pdf/news-20251112-001_ja.pdf
25. MUFG Report 2026 (Integrated Report) — Mitsubishi UFJ Financial Group, Inc., Aug 24, 2026. https://www.mufg.jp/dam/ir/report/annual_report/pdf/ir2026_all_en.pdf
26. How MUFG Bank aims to cut flowchart work by up to 90% with ontology-grounded AI on Amazon Neptune and Amazon Bedrock — Amazon Web Services (AWS Database Blog), Oct 8, 2026. https://aws.amazon.com/blogs/database/how-mufg-bank-aims-to-cut-flowchart-work-by-up-to-90-with-ontology-grounded-ai-on-amazon-neptune-and-amazon-bedrock
27. Mizuho rolls out generative AI to all 45,000 bank staff in Japan — The Japan Times (Bloomberg), Jun 27, 2023. https://japantimes.co.jp/news/2023/06/27/business/corporate-business/mizuho-ai-access
28. Mizuho partners with SoftBank on AI to boost efficiency — The Japan Times, Jul 18, 2025. https://japantimes.co.jp/business/2025/07/18/tech/mizuho-ai-partner-softbank
29. Launch of AI @ Morgan Stanley Debrief — Morgan Stanley, Jun 26, 2024. https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch
30. Introducing ChatGPT for Financial Services — OpenAI, Sep 10, 2026. https://openai.com/index/introducing-chatgpt-financial-services/
31. OpenAI courts Wall Street with ChatGPT for financial services, developed with Morgan Stanley — Fortune, Sep 10, 2026. https://fortune.com/2026/09/10/openai-courts-wall-street-with-chatgpt-for-financial-services-developed-with-morgan-stanley/
32. 2026 Company Update Transcript - Chairman and CEO Q&A — JPMorganChase, Feb 25, 2026. https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/2026-company-updates/company-update-chairman-ceo-transcript.pdf
33. JPMorgan Chase blocks outside AI agents like Muse, Instinct from directly accessing accounts — CNBC, Oct 13, 2026. https://www.cnbc.com/2026/10/13/jpmorgan-ai-agents-account-access.html
34. JPMorgan CEO Dimon warns customers of 'liability transfer' with AI — Banking Dive, Oct 13, 2026. https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870
35. JPMorgan warns of risks to consumers who rely on AI agents — American Banker, Oct 13, 2026. https://www.americanbanker.com/news/jpmorgan-warns-of-risks-to-consumers-who-rely-on-ai-agents
36. OCBC harnesses agentic AI to sharpen and quicken onboarding of wealthy customers — Oversea-Chinese Banking Corporation, Jul 29, 2026. https://ocbc.com/group/media/release/2026/ocbc-harnesses-agentic-ai-to-quicken-onboarding-customers
37. OCBC is first Singapore bank to roll out generative AI chatbot to all employees globally — Oversea-Chinese Banking Corporation, Oct 24, 2023. https://ocbc.com/group/media/release/2023/ocbc-is-first-singapore-bank-to-roll-out-generative-ai-chatbot-to-all-employees-globally
38. MAS rolls out AI risk management guidelines for Singapore's financial sector — The Business Times, Oct 7, 2026. https://businesstimes.com.sg/singapore/economy-policy/mas-rolls-out-ai-risk-management-guidelines-singapores-financial-sector
39. Japan's MUFG Bank to tap AI, satellite images for collateral appraisals — Nikkei Asia, Jul 7, 2026. https://asia.nikkei.com/business/companies/japan-s-mufg-bank-to-tap-ai-satellite-images-for-collateral-appraisals
40. MUFG To Make Additional Investment in Sakana AI — Mitsubishi UFJ Financial Group, Inc., Nov 17, 2025. https://www.mufg.jp/dam/pressrelease/2025/pdf/news-20251117-001_en.pdf

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