JAPAN NEWS



 

 
Mitsubishi UFJ Financial Group, Inc. will raise the mandatory retirement age at its subsidiary banks and securities firms to 65 starting in fiscal 2027 as part of efforts to secure excellent employees regardless of age.

Mitsubishi UFJ Trust and Banking Corp. will revise its system of rehiring employees who are 60 years or older as contract workers and instead continue to employ them as regular employees until age 65.

While the company has previously reemployed 80% to 90% of its employees as contract employees under an evaluation and compensation system comparable to that of regular employees, it is now moving to continued employment to better reflect actual working conditions.

Mitsubishi UFJ Morgan Stanley Securities Co. will also raise its retirement age to 65.

MUFG Bank, Ltd. will not only raise the retirement age, but also abolish its system of reducing salaries past the age of 55.

The bank will also raise the salaries of non-management employees, who are primarily younger, by up to 7% and increase the starting salary for university graduates to ¥300,000 a month starting in fiscal 2026.

According to a survey in June 2025 by the Health, Labor and Welfare Ministry of 238,000 companies that employ more than 21 employees, about 30% of them had their retirement age at 65 or older. The number of such companies has been increasing, the ministry said.