October 7, 2004
Financial Services Agency
(Provisional Translation)

Statement by Minister for Financial Services

On the UFJ Bank

1. Financial Services Agency (FSA) today filed charges with the Public Prosecutor's Office against a series of evasive conducts carried out by the UFJ Bank employees during the FSA financial inspection.
2. Simultaneously, the FSA also took an administrative action on the Bank based on Article 27 of the Banking Law.
3. These actions are based on the past evasive conducts under the former management. The Bank is currently making efforts to enhance the governance functions following the Business Improvement Order issued by the FSA on June 18 and the Business Improvement Plan submitted by the Bank on July 26 in response to the order. The FSA looks forward to seeing a steady progress made by the new management of the Bank in this regard.