Bank of Tokyo-Mitsubishi UFJ said Friday that its Chinese unit has obtained local authorities' approval for its plan to open a sub-branch in an economic and technological development zone in Beijing.
The sub-branch will be the 15th Chinese base for the bank under the aegis of Mitsubishi UFJ Financial Group Inc. <8306>, one of Japan's three megabank groups. It will also be Tokoyo-Mitsubishi UFJ's 100th overseas base, the first such milestone achieved by a Japanese bank.
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