Tokyo, July 6, 2026 - MUFG Bank, Ltd., a consolidated subsidiary of Mitsubishi UFJ Financial Group, Inc., and JCB Co., Ltd., Japan’s only international payment brand, have entered into a Memorandum of Understanding (MOU) regarding a comprehensive strategic alliance in the ASEAN region. This alliance aims to leverage our complementary strengths by utilizing both companies’ customer bases and financial and payment networks to jointly drive business expansion and create new value across ASEAN. Purpose and Background of the Alliance In ASEAN, sustained economic growth is driving the expansion of the affluent segment, alongside the growing adoption of digital payments. As a result, demand for financial and payment services is becoming increasingly sophisticated and diverse. In this context, MUFG Bank’s partner bank network, investments in digital businesses, and financial infrastructure will be combined with JCB’s global payment network, Japan’s largest merchant network, and extensive service expertise. By integrating these capabilities with financial services, such as deposits and investments, the two companies aim to create new value, particularly in affluent customer segments and digital payment areas. Key Areas of Collaboration Strengthening Financial Services for Affluent Customers in ASEAN Leveraging partnerships with MUFG’s partner banks, we will offer card products that provide exclusive and unique experiences and benefits in Japan for affluent customers in ASEAN. In addition, by linking these card products with financial services, such as deposits and investments, we will deliver enhanced value. As an initial initiative in fiscal year 2026 (ending March 2027), we plan to issue a new premium card in Indonesia, which will be JCB’s highest-tier card ever issued outside Japan. Expansion of Collaboration in the ASEAN Payment Domain Both companies will explore collaboration between MUFG’s investees in the digital finance sector and JCB’s payment capabilities. Through these efforts, we will consider expanding cross-border payment solutions and mobile services, with the aim of accelerating the development of digital payment ecosystems in ASEAN. By combining their customer bases and payment expertise, the two companies will promote the advancement of financial services and create new business opportunities and synergies. Building Partnerships with Japanese Companies and Promoting Japan as a Tourism-Oriented Nation This alliance aims to establish and expand a “Japan-led financial and payment partnership platform” centred on MUFG Bank and JCB in ASEAN. Building on this foundation, we will broaden partnerships not only with partner banks and digital financial players but also with a wide range of Japanese companies, thereby enhancing the global reach of Japanese brands and services. Beyond financial and payment services, the alliance will drive new business creation through collaboration with Japanese companies and contribute to strengthening Japan’s presence in ASEAN. Through these initiatives, both companies aim to help build a new economic sphere connecting ASEAN and Japan, while supporting efforts to further position Japan as a leading tourism destination. Future Developments Based on this MOU, both companies will move forward with concrete initiatives. Leveraging this alliance, we will further expand partnerships with Japanese companies and strive to achieve sustainable growth and create new value in ASEAN. Re-disseminated by The Asian Banker
