MUFG claims Japan market cap crown for 1st time ever

It has been 40 years since a bank was Japan's most valuable company

MUFG's new president, Junichi Hanzawa, has overseen the group's growth into Japan's market cap leader. (Nikkei montage/Source photos by Hazumu Urushiyama)

TOKYO -- For the first time ever, Mitsubishi UFJ Financial Group has taken the top spot in market capitalization among Japanese companies, marking a turning point for Japan's leading bank and the rest of the country's financial sector.