UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of January, 2004
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MITSUBISHI TOKYO FINANCIAL GROUP, INC.
(Translation of registrant's name into English)
4-1, Marunouchi 2-chome, Chiyoda-ku
Tokyo 100-6326, Japan
(Address of principal executive offices)
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[Indicate by check mark whether the registrant files or
will file annual reports under cover Form 20-F or Form 40-F.]
Form 20-F __X__ Form 40-F _____
[Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.]
Yes ____ No __X__
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: January 29, 2004
MITSUBISHI TOKYO FINANCIAL GROUP, INC.
By: /s/ Atsushi Inamura
-------------------------------------
Name: Atsushi Inamura
Title: Chief Manager, General Affairs
Corporate Administration Division
Mitsubishi Tokyo Financial Group, Inc.
Integration and reorganization of asset management subsidiaries
Tokyo, January 29, 2004 --- Mitsubishi Tokyo Financial Group, Inc. (MTFG) today
announced that, subject to regulatory and other approvals, it intends to
integrate and reorganize the operations of its asset management subsidiaries,
Tokyo-Mitsubishi Asset Management Ltd (TMAM) and Mitsubishi Trust Asset
Management Co., Ltd. (MTAM). This integration and reorganization is part of
MTFG's ongoing measures to shift to more consolidated and integrated Group
management, and is intended to facilitate the provision of higher quality asset
management services to customers.
1. Outline of integration and reorganization
i. Merger of TMAM and MTAM
ii. Integration of the investment advisory and discretionary management
operations of TMAM into The Mitsubishi Trust and Banking Corporation
(MTBC)
2. Aim of integration and reorganization
Although the market for asset management services is forecast to grow,
competition within the sector is expected to increase, and asset management
companies need to strengthen their asset management capabilities and increase
business efficiency. MTFG's decision to integrate and reorganize its asset
management subsidiaries is aimed at creating a structure that can respond
flexibly to such changes in the market environment.
By drawing on the strengths of MTBC and the newly merged asset management
subsidiary, MTFG will construct a strong asset management capability and
efficient business structure that can provide customers with higher quality
value-added services.
3. Asset management services under the new structure
The existing asset management operations of MTBC are highly rated by customers,
as evidenced by rankings such as its top market share of corporate pension
assets. Under the planned integration and reorganization, MTBC's asset
management infrastructure and resources, such as its research functions, will be
utilized jointly throughout the Group to improve asset management capabilities
and boost business efficiency.
Growth in the markets for publicly and privately offered investment trusts,
variable annuities and defined contribution pension funds is expected, and in
these and other areas MTFG aims to create a comprehensive product line up
through which it can meet the broadest range of customer needs, while at the
same time increasing customer service and convenience. This can be achieved by
combining the corporate pension fund management experience of MTBC with the
investment trust and investment advisory and discretionary management expertise
of TMAM and MTAM.
Asset management services currently provided to customers by each company will
continue after the planned integration and reorganization.
4. Schedule
It is planned to complete the merger of TMAM and MTAM, along with the
integration of the investment advisory and discretionary management operations
of TMAM into MTBC, by October 2004. A planning committee will be established to
determine matters such as the name, ownership structure and management of the
newly merged asset management subsidiary.
MTFG will pursue further synergies between the high quality products and
services and the strong customer bases of The Bank of Tokyo-Mitsubishi, Ltd.
(BTM) and MTBC. MTFG will also seek to further improve business efficiency and
consolidate its position as a leading asset management Group.
* * *
For further information, please contact:
Seiji Itai, Chief Manager,
Corporate Communication Office
Tel: 81-3-3240-8136
Outline of companies to be merged (as of September 30, 2003)
---------------------------- --------------------------------------------- ---------------------------------------------
Item Tokyo-Mitsubishi Asset Mitsubishi Trust Asset
Management Ltd. Management Co., Ltd.
---------------------------- --------------------------------------------- ---------------------------------------------
Business Issuance, management and offering of Issuance, management and offering of
Activities investment trusts investment trusts
Investment advisory and discretionary Investment advisory and discretionary
management account business management account business
---------------------------- --------------------------------------------- ---------------------------------------------
Date of Establishment August 1, 1985 February 15, 2000
---------------------------- --------------------------------------------- ---------------------------------------------
Head Office Chiyoda-ku, Tokyo Chiyoda-ku, Tokyo
---------------------------- --------------------------------------------- ---------------------------------------------
Representative Akira Okuhata Hiroshi Kakegawa
---------------------------- --------------------------------------------- ---------------------------------------------
Paid-in capital JPY 2,000 million JPY 495 million
---------------------------- --------------------------------------------- ---------------------------------------------
Total outstanding shares 18,039 9,900
---------------------------- --------------------------------------------- ---------------------------------------------
Shareholders equity JPY 3.0 billion JPY 1.0 billion
---------------------------- --------------------------------------------- ---------------------------------------------
Total assets JPY 6.2 billion JPY 1.4 billion
---------------------------- --------------------------------------------- ---------------------------------------------
Assets under management JPY 1,444.1 billion JPY 341.3 billion
...................... ............................................. .............................................
Investment Publicly Offered JPY 586.5 billion Publicly Offered JPY 275.5 billion
Trusts Privately Offered JPY 183.7 billion Private Placement JPY 65.8 billion
Total JPY 770.2 billion Total JPY 341.3 billion
...................... ............................................. .............................................
Discretionary Discretionary JPY 501.3 billion
Management and Advisory JPY 172.6 billion
Investment Total JPY 673.9 billion
Advisory
---------------------------- --------------------------------------------- ---------------------------------------------
Employees 139 42
---------------------------- --------------------------------------------- ---------------------------------------------
Main shareholders BTM (41.3%) MTBC (100.0%)
BTM-related companies (13.3%)
Mitsubishi Securities (4.3%)
MTBC (3.3%)
Meiji Yasuda Life Insurance (3.3%)
Tokio Marine & Fire Insurance (3.3%)
31 of regional banks (11.1%)
---------------------------- ---------------------- ---------------------- ---------------------- ----------------------
Financial results FY2003 FY2004 FY2003 FY2004
(6 months to (6 months to
September) September)
...................... ...................... ...................... ...................... ......................
Operating income JPY 4.08 billion JPY 2.72 billion JPY 1.64 billion JPY 1.28 billion
...................... ...................... ...................... ...................... ......................
Ordinary income (JPY 0.60 billion) JPY 0.27 billion JPY 0.36 billion JPY 0.37 billion
(loss)
...................... ...................... ...................... ...................... ......................
Net income (loss) (JPY 0.69 billion) JPY 0.28 billion JPY 0.20 billion JPY 0.17 billion
---------------------------- ---------------------- ---------------------- ---------------------- ----------------------
Notes:
1. Total investment trust assets under management of the new company
(calculated by a simple summation of each company's assets under management
as of September 30, 2003) will be JPY1,111.5 billion. (Ninth largest in the
industry)
2. The figure for assets under management on the non-discretionary contract
basis includes only the client assets specified in the management contract.
3. Assets under management of MTBC totaled JPY14.9 trillion as of September
2003