We provide unrivaled value propositions and services to our clients by best utilizing our unique business model, a combination of a bank-affiliated Japanese securities firm and a foreign-capitalized investment bank.

Retail Client Businesses

Since 2011, Mitsubishi UFJ Morgan Stanley Securities (MUMSS) has been selling “uridashi” bonds issued by Morgan Stanley through its retail network.

MUMSS has also been providing its retail clients with Morgan Stanley’s research reports and in 2014, started offering webinar contents featuring analysts of Morgan Stanley MUFG Securities (MSMS) as well as Morgan Stanley in its Internet seminars designed exclusively for online trading customers.

In the area of investment trust products, MUMSS collaborated with Morgan Stanley Investment Management on the development of such products as “Morgan Stanley Global Premium Stock Open” and “USD-denominated Morgan Stanley Global Premium Equity Open,” and has been selling them through its retail network.

In wealth management, MUMSS has been offering products and advisory services tailored to each client’s specific needs by leveraging MUFG’s broad array of retail financial services and Morgan Stanley’s global know-how.

Investment Banking Businesses

We have engaged in a number of industry-defining transactions by effectively and swiftly catering to client needs, leveraging the benefits of our collaboration with MUFG Bank, which utilizes MUFG’s strong capital and client base, and by providing high-quality strategic advice and highly creative solutions backed by Morgan Stanley’s global network and track record.

In equity underwriting, our joint venture continues contributing to the development of Japan’s equity capital market, being involved in a series of large Japanese initial public offerings and follow-on offerings. In 2020, we acted as joint global coordinator and/or bookrunner on significant transactions such as:

  • Japan Airlines’ global follow-on offering (November 2020 / approximately JPY191.6 billion)

  • Recruit Holdings’ international-only follow-on offering (December 2020 / approximately JPY373.9 billion)

  • Asahi Holdings’ dollar-denominated convertible bonds (February 2021 / US$200 million)

In prior years, our joint venture acted as joint bookrunner on both the domestic and international tranches of large Japanese equity offerings such as:

  • Japan Post Holdings, Japan Post Bank and Japan Post Insurance’s global IPOs (listed November 2015 / approximately JPY1.4 trillion), an unprecedented concurrent tri-IPO of group companies

  • Kyushu Railway’s global IPO (listed October 2016 / approximately JPY416 billion), the fourth Japan Railways company to go public

  • LINE’s dual listing in New York and Tokyo in its global IPO (listed July 2016 / approximately JPY132.8 billion)

  • Suntory Beverage & Food’s global IPO (listed July 2013 / approximately JPY390 billion)

  • Japan Airlines’ global IPO (listed September 2012 / approximately JPY663.2 billion)

In debt underwriting, we continued contributing to the expansion and activation of Japan’s corporate bond market by acting as joint bookrunner in transactions such as:

  • NTT Finance’s domestic corporate bonds (December 2020 / JPY1 trillion), the largest-ever domestic corporate bond by a Japanese issuer

  • Takeda Pharmaceutical’s U.S.-dollar- and Eruo-denominated bonds (June 2020 / US$7 billion, EUR3.6 billion)

  • Nissan Motor’s U.S. dollar- and Eruo-denominated bonds (September 2020 / US$8 billion, EUR2 billion)

  • NTT Finance’s U.S. dollar- and Eruo-denominated bonds (February 2021 / US$8 billion, EUR2 billion)

  • MUFG’s Euro-denominated Covid-19 response sustainability bond (June 2020 / EUR500 million), the first of its kind by a Japanese issuer

  • A series of ESG bonds and hybrid bonds by a number of Japanese issuers

In M&A advisory, MUMSS continues to serve as a trusted financial advisor in numerous large transactions involving Japanese corporates, fully utilizing Morgan Stanley’s global and sophisticated information-gathering capability, industry know-how and proven track record. In 2020, MUMSS acted as financial advisor in key transactions such as:

  • NTT’s full acquisition of NTT DoCoMo through a Tender Offer (announced in September 2020 / approximately JPY4.254 trillion)

  • Sony’s full acquisition of Sony Financial Holdings through a Tender Offer (announced in May 2020 / approximately JPY395.5 billion)

  • Merger of Mitsubishi UFJ Lease & Finance and Hitachi Capital (announced in September 2020 / approximately JPY299.6 billion)

  • NEC’s acquisition of Switzerland-based Avaloq Group (announced in October 2020 / approximately JPY234.5 billion)

  • Blackstone’s acquisition of Takeda Consumer Healthcare Company (announced in August 2020 / approximately JPY242.0 billion)

In prior years, we acted as financial advisor in key transactions including:

  • Merger between Z Holdings and LINE (announced in December 2019 / approximately JPY1.181 trillion)

  • Hitachi Automotive Systems integration with three Honda-group suppliers (announced in October 2019 / approximately JPY513.4 billion)

  • Takeda Pharmaceutical’s acquisition of Shire (announced in April 2018 / approximately US$77 billion)

  • Chubu Electric Power and TEPCO Fuel & Power’s integration of their thermal power generation businesses into JERA (announced in February 2018 / approximately JPY1.2 trillion)

  • Consortium of Japanese, U.S. and South Korean companies acquisition of Toshiba Memory (announced in September 2017 / approximately JPY2 trillion)

  • Suntory Holdings’ acquisition of U.S.-based Beam Inc. (announced in January 2014 / approximately JPY1.6 trillion)

  • Canon’s acquisition of Toshiba Medical (announced in March 2016 / approximately JPY670 billion)

  • KKR’s acquisition of Calsonic Kansei (announced in November 2016 / approximately JPY500 billion)

  • Komatsu’s acquisition of U.S.-based Joy Global Inc. (announced in July 2016 / approximately JPY385 billion)

Awards & Recognition

High-quality product development capabilities and financial expertise of Mitsubishi UFJ Morgan Stanley Securities and Morgan Stanley MUFG Securities are highly valued by a number of well-known financial business magazines and trade media.