Mitsubishi UFJ CEO Plans to Boost Loans to U.S. Energy Industry

With the recent boom in oil, the U.S. is expected to become a net exporter of energy for the first time ever, and Japan is ready to support that growth. President of Mitsubishi UFJ, Nobuyuki Hirano, has stated his plans to expand loans to the energy industry in the U.S., which currently makes up about 60 percent of the banks revenue outside of Japan. Hirano is looking to purchase middle sized banks on the west coast to promote the best “geographical synergy.”

Hirano has big plans for the U.S. markets, expecting to grow gross profit by 30 percent for the region. “’No other market is bigger or deeper than the U.S.,’ said Hirano, who served on Morgan Stanley’s board for two years until May 2011. ‘The chance to grow our businesses there remains high.’” The growth includes the real estate market, with a large portion being in New York, which is currently expanding at a much faster pace.

Japan seems to be becoming a more aggressive economy overall, and with the stance set by Nobuyki Hirano, their economy is going to become much more integrated with America’s. Through many acquisitions, Mitsubishi UFJ is going to become tied to the growth and profit of the energy industry in the U.S.

Source:

http://www.bloomberg.com/news/2013-04-12/mitsubishi-ufj-ceo-plans-to-boost-loans-to-u-s-energy-industry.html

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: