Our Efforts
toward Customers

Pursuing Customers' Best Interests

Through training and other means, we ensure that our officers and employees adhere to the "Code of Conduct" and the "MUFG Basic Policy for Fiduciary Duties" in their judgments and actions. Additionally, to serve the best interests of our customers, we implement various measures based on their opinions to improve customer satisfaction.

To meet the diverse needs of our customers, including potential ones, we make proposals that leverage the combined strengths of MUFG and Morgan Stanley. Our proposal goes beyond asset management to include comprehensive proposals that address our customers' life cycles and needs, such as inheritance and asset succession.

We aim to become a "true professional" group that can meet the diverse needs of our customers.
We have established training programs to train and retain professional talent, and we utilize support systems (HR tech) to cultivate practical skills and advanced expertise.
We clarify the qualities expected of financial professionals and encourage the acquisition of public qualifications such as CFP, CMA, and real estate transaction agent.
We are establishing systems to build long-term, positive relationships with our customers, aiming to create enduring connections with them.

Appropriate management of conflicts of interest

We solicit many product ideas from various investment management companies and insurance companies and select products and services that benefit customers, utilizing external evaluation agencies as needed.

We implement the following measures to ensure that we do not prioritize products from affiliated management companies during "product selection and resumption", "suspension, pause, and discontinuation" and "sales" nor do we recommend only high-fee products.

■When Selecting, Suspending, Halting, Discontinuing, or Resuming Products

We consider the following "Selection Points" when determining whether to select, suspend, halt, discontinue, or resume handling products from the same product group.

<Selection Points>

• 1. Product risk
• 2. Costs
• 3. Performance track record
• 4. Needs and suitability of the target customers, and alignment with the investment environment
• 5. Complexity of the product structure, difficulty of product explanation, and sales channels
• 6. Educational support system for sales company staff provided by the management company
• 7. Compliance with relevant laws and regulations

■When Selling

To offer the most suitable products that meet our customers' needs, we do not provide excessive incentives for handling products from affiliated management companies.
Additionally, in evaluating our staff, we do not favor the sale of products from affiliated management companies over similar products from non-affiliated management companies.
Furthermore, to ensure that we do not focus excessively on selling high-fee products, the risk management department conducts regular monitoring using AI and other tools.
We strive to maintain appropriate proposal activities for our customers.

Clarification of commissions

We strive to clearly and thoroughly explain important information related to products, including fees.

We use “Important Information Sheets” (for major investment trusts, structured bonds, foreign currency-denominated insurance, and wrap accounts) to clearly present and explain key points such as fees.

The “Important Information Sheet” discloses fees from three perspectives: costs paid at the time of purchase, ongoing costs, and costs paid based on investment performance, allowing for comparison with similar products.
Additionally, for general bonds, we disclose the upper limit of compensation related to sales services and reference prices, while for structured bonds, we disclose the structuring costs.

Easy-to-understand provision of important information

We provide easy-to-understand information, considering the knowledge and experience regarding asset management, especially for elderly customers and those with limited investment experience.


We will provide information in an easy-to-understand manner, considering our customer’s knowledge and experience regarding asset management, especially for elderly customers and those with limited investment experience.
When explaining the features, risks, and fees of products, we use “Important Information Sheets (individual product editions)” and strive to ensure that customers fully understand by providing comparisons with other products.
To build a "risk-oriented portfolio" for our customers, we conduct portfolio analysis and provide model portfolios.
We categorize products based on their risk characteristics, such as price volatility, and promote and sell products that align with our customers' risk tolerance and other factors.
In particular, for complex or high-risk products, we establish criteria based on factors such as age, investment experience, and the customer's understanding of the product for each product category to determine whether to initiate solicitation.
Additionally, for certain products, we have implemented a system where only highly skilled representatives are allowed to provide explanations, ensuring a more thorough and careful presentation.

Providing services appropriate to customers

We are committed to developing and proposing products and services based on our customers' needs.

We strive to provide proposals that are suitable for our customers' lifestyles, future aspirations, and asset situations, as well as to offer regular information and follow-ups regarding their investment status, ensuring that they can continue their transactions with peace of mind.
In addition, we are taking the following initiatives related to the provision of information to make it available to a wide range of customers.

• ① Enhancement of content on the website
• ② Utilization of useful materials related to investment
• ③ Distributing internet videos and hosting customer seminars
• ④ Expansion of financial and economic education

To achieve asset management that aligns with our customers' investment objectives and risk tolerance, we offer a wide range of high-quality product lineups.
We continuously strive to improve our investment methods and enhance our management and operational systems for the products we handle.
Additionally, to meet the diverse needs of our customers, we can provide various solutions, including business succession and asset succession, in addition to asset management.

To facilitate transactions for a wide range of customers, we are working to improve the convenience of our services through various channels, including face-to-face interactions, call centers, and the internet.
We pay the utmost attention to the security of internet trading and prioritize ensuring that our customers can conduct transactions with peace of mind and safety.

Appropriate motivation framework for employees, etc.

We have established a performance evaluation framework that promotes proposal activities that contribute to the pursuit of our customers' best interests.
In addition to assessing the management of entrusted assets and responsiveness to customer needs, we also evaluate customer satisfaction, aiming for sustainable growth together with our customers.
We promote awareness and education regarding our customer-oriented initiatives and their status among both customer representatives and headquarters staff, fostering a company-wide culture of commitment to these principles.

Basic principles related to product governance.

In the definition of “Pursuing Customers' Best Interests” as Mitsubishi UFJ Morgan Stanley Securities," we clearly articulate our philosophy as a financial service provider integrated with both manufacturing and sales.

Establishment of a product governance framework.

We have established a product governance framework that encompasses the entire lifecycle of products and services, as well as a system to ensure quality control and effectiveness.

Response during the structuring of financial products

We strive to develop products based on our customers' needs, and during the structuring of products and services, we verify their characteristics and risks.
Additionally, we will clearly define the target customers for each product or service based on its complexity and associated risks.

Through information sharing with sales companies and our sales divisions, we strive to effectively implement “Product Lifecycle Management (PLCM)” functions from structuring to redemption.

Response after the structuring of financial products.

Not only during the structuring of products and services but also after their creation, we will regularly verify their performance to improve their characteristics.

Additionally, through regular information sharing with sales companies and our sales divisions, we will work to enhance the products and services we offer to our customers.

We have established a wide range of product lineups to meet our customers' diverse needs, and we will review our products and services as necessary through various information sharing and verification processes.

Providing easy-to-understand information regarding product governance

To enable our customers to select better financial products, we will strive to provide clear information about the products and services we offer.
Additionally, our company holds Product Governance Meetings to discuss and deliberate on the introduction of new products and services, their ongoing management, and any modifications or discontinuations.

Our Efforts to Increase Customer Satisfaction

Response to Comments from Customers

Mitsubishi UFJ Morgan Stanley Securities has arrangements in place for hearing the voice of customers through various portals. Head Office and sales branches share information and work actively to resolve issues and make improvements in order to reflect the “voice of customers” in enhanced customer service and improved operations.

We listen to the voice of customers at sales branches.

The “voice of customers” is heard through sales activities (visits and telephone calls) by sales staff, executives and managers.

We listen to the voice of customers at call centers.

The “voice of customers” is heard at call centers that are the reception portals for online trading and telephone trading.

We listen to the voice of customers at the Customer Service Division.

The Customer Service Division handles inquiries via the website and “voice of customers” input addressed directly to the Head Office.

We listen to the voice of customers through customer satisfaction surveys.

We conduct an annual survey regarding customer satisfaction, expectation levels, requests and other matters.
The voice of customers is reported to concerned divisions in the Head Office, and the relevant divisions work together, continuously holding meetings of the “Review Committee for Voices of Customers and Employees” where issues and improvement measures are discussed and studied, and various improvement measures are formulated and implemented.

Status on implementation of improvements is reported to management, while alerts and notices are disseminated through various company-wide media.

MUFG Awareness Survey

At Mitsubishi UFJ Morgan Stanley Securities, we conduct the “MUFG Awareness Survey,” a poll on employee attitudes to discover issues related to the Company’s compliance, brand, CSR and other matters, and put these to use in future policies. With regard to compliance in particular, we implement a range of measures to achieve voluntary compliance in which we think and act autonomously according to professional ethics as specialists in the securities market and as a member of the MUFG Group.

Business Manners

Business manners are the basis of the quality of character.
At Mitsubishi UFJ Morgan Stanley Securities, we have initiatives to ensure that customers do not have an unpleasant experience, including drawing up “Dress Code Guidelines;” distributing the “Business Manner Handbook,” a compilation of manners for serving customers, to all employees; and improving how telephone calls are answered.
Business manners for answering telephone calls are not simply a matter of the sales staff being polite to the customer.
We believe that it is important for officers and employees who do not have opportunities to come into direct contact with customers to bear this in mind on a daily basis, and so we conducted a survey of actual conditions at all divisions in the Head Office from December 2009 to November 2010, providing feedback to the results each time. All officers and employees will continue to promote thorough awareness of this issue, and to enhance the Company’s image and reputation.