MUFG’s digital-bank subsidiary obtained a Japanese banking licence and changed its name to MUFG Emut Bank. The wholly owned unit of MUFG Bank plans to start services between January and March 2027. It has capital of ¥47.45 billion and is led by chief executive Kunihiro Yamashita.
The business was established as MU Digital Bank Establishment Preparation Company while it built systems and completed the licensing process. The name adopts Emut (エムット), the retail financial-services brand MUFG launched in June 2025. The bank will be headquartered in Tokyo’s Shinagawa district.
LICENCE CLEARS A KEY GATE
The licence permits MUFG Emut Bank to move from preparation towards regulated banking operations.
The bank will use Google's cloud technology, and MUFG said customers will also be able to use MUFG Bank branches in some cases, so it is not an internet-only bank. Nikkei reported that the bank is considering offering higher deposit rates than MUFG Bank itself.
PRICING FLEXIBILITY
Nikkei reported that using Google's cloud technology will let the bank adjust fees and interest rates quickly as customer needs and market conditions change.
MUFG Emut Bank will offer its services under the name Emut Bank (エムットバンク). The licence is therefore a necessary approval, not evidence that commercial operations have already begun.