Mitsubishi UFJ Financial Group is moving to acquire Japan’s leading robo-adviser platform WealthNavi, expanding its digital investment offerings as Japanese households increasingly embrace stock market investments, according to Nikkei.
The banking giant plans to buy out minority shareholders of WealthNavi through its MUFG Bank unit, following its February purchase of a 15% stake. The deal values WealthNavi at 62.7 billion yen ($412 million), with MUFG needing approximately 53 billion yen to acquire the remaining shares. The final price may include a premium that’s still under negotiation.
WealthNavi, which manages 1.3 trillion yen in assets, offers automated investment advice and portfolio management based on customer questionnaires. The platform has emerged as the market leader, outperforming competitors like Money Design.
The acquisition aligns with MUFG’s strategy to capture a larger share of retail investments, particularly as Japan’s revised NISA tax-deferred investment program gains popularity. The program has attracted 3 million new accounts in the first half of 2024, reaching 24 million total accounts by June.
MUFG plans to integrate WealthNavi’s services with au Kabucom Securities, which it will fully acquire from KDDI in January. The bank aims to launch a new advisory platform by fiscal 2026, leveraging data from 10 million app users to provide personalized financial recommendations.
