Mitsubishi UFJ already has full-service branches in LA, SF, Seattle, Chicago, and NY among its 13 total locations. UnionBanCal is a regional bank that according to the article is the "21st largest bank in the U.S., with more than 300 branches, $49 billion in assets and a market value of $9.1 billion." Among UB clients are the Japanese-American community and Japanese companies with operations in the U.S.
Riley mentions that 11.5% of MUFG's fiscal year ended March 31st operating profit of 1.078 trillion yen ($9.27b) was earned in North America.
This is a smart move by MUFG and you have to applaud president and CEO Nobuo Kuroyanagi for not wasting any time after having just achieved a big milestone in paying back the public funds it owned the government from its bail out, the first of Japan's three mega banks to do so.
Recent related coverage of Mitsubishi UFJ on SeekingAlpha:
MUFG's ordinary shares (Tokyo: 8306) lost 0.65% Wednesday in Japan to close at 1,530,000 yen ($13,151) which is the equivalent of $13.15 for its ADRs, which closed yesterday down 0.84% at $13.05.