Write-up of Japan Achievement Awards 2008, day 1

Here are the details of our Japan House Awards for 2008, which were announced in February. A write-up of the Deal Awards will follow tomorrow.

Bank of Tokyo-Mitsubishi UFJ
Our winner is the core retail and commercial banking arm of the Mitsubishi UFJ Financial Group, which is impressive because of how busy it was in the second half of 2008 when most banks were distracted by dealing with heavy losses. First, MUFG bought an $8 billion, 22% stake in Morgan Stanley. When you recall that Morgan Stanley has merged its retail brokerage with Citi's Smith Barney, you can see that MUFG could end...

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