Mitsubishi UFJ Financial Group Inc. plans to launch a takeover bid for Japanese robo-advisory firm WealthNavi Inc, the Nikkei Asia reported. MUFG, which already holds a 15% stake in WealthNavi, intends to make it a wholly-owned subsidiary.
This move aligns with the increasing trend of funds flowing from savings accounts into investments, particularly due to the popularity of the revised Nippon Individual Savings Account (NISA) program. MUFG aims to accelerate its expansion of financial services for retail investors.
Founded by Chief Executive Officer Kazuhisa Shibayama in 2015, WealthNavi provides online wealth management services.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.