Japan

"Officials from Japan Tokio Marine Insurance Company discussed issues of mutual interests with Deputy Head of Iran's Central Insurance Company for Reinsurance Mina Sediq Nouhi. In the meeting here on Saturday, Governor of Tokio Marine Insurance Company Eva Koma expressed pleasure for being in Tehran and explained history of company activities in Japan and the Middle East and said that the main activity of the company is in the field of marine insurance. He said that Tokio Marine accompany with two other insurance companies in Japan have 90 percent of Japan insurance market share." (IRNA, "First Japanese insurance interaction with Iran," 10/17/15)

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Listed by U.S. Government as doing business in Iran [formerly known as Millea Holdings Inc.]. (U.S. Securities and Exchange Commission, "List of Companies Doing Business With State Sponsors Of Terror," Removed from the Internet in July 2007)

Company website lists company offices in Bandar Abbas and Tehran, Iran. (NYK)

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Listed by the Iranian Ports and Maritime Organization as doing business with the Iranian Darya Saree and Golf Agencei.  (Ports & Maritime Organization: Companies Affairs Department: Liners)

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"Kanematsu Corp. has been identified as potentially providing motor vehicles and electronic parts in Iran through its distribution service. In 2017, CalSTRS designated Kanematsu Corp. as “Under Review” for potentially having ties to Iran. CalSTRS maintained the “Under Review” status in 2018. In 2019, CalSTRS moved Kanematsu Corp. to a “Being Monitored” status. CalSTRS has maintained the “Being Monitored” status in 2020."

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In 2017, CalSTRS designated Kanemetsu Corp. as “Under Review” for potentially providing motor vehicles and electronic parts to Iran through their distribution service. CalSTRS maintained the “Under Review” designation in 2018.

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In 2017 the U.S. state of California listed Kanemetsu Corp. as a company under review for potentially providing motor vehicles and electronic parts to Iran through their distribution services.

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Lists a location in Tehran, Iran on its company website.

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"Conservative Japanese firms have so far held off taking Iranian crude due to a lack of internationally acceptable insurance coverage, but are looking at ways of using cover provided by the Japanese government, the sources said. The traders seeking to restart purchases together imported around 50,000 barrels per day (bpd) of Iranian oil before sanctions were imposed and renewed purchases would give a boost to Tehran's aim of increasing its exports to 4 million bpd... ... Itochu Corp said it was considering resuming imports of Iranian oil, while trading house Kanematsu Corp which last bought Iran crude in 2010, is also looking to resume purchases at an early date, but has not yet lined up any customers, a company source told Reuters." (Reuters,  "Some Japan trading houses eye resuming Iran oil imports-sources," 10/19/2016).

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Company website list location in Tehran, Iran. (Company Website)

Japan Tobacco is listed on the March 1, 2022 Report to the New Jersey Legislature Iran Divestment as a prohibited company.

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"Despite recent gains by Iranian Tobacco Co. (ITC), multinationals continue to dominate the Iranian cigarette market, according to a report by PressTV, citing ITC CEO Siavash Afzali.   

Speaking at a press briefing on May 17, Afzali said that Japan Tobacco International (JTI) and British American Tobacco (BAT) control more than 61 percent of sales and some 70 percent of the value of the cigarette market in Iran. Afzali estimated that JTI and BAT supplied 46 billion cigarettes to Iranian consumers in the calendar year to late March." (Tobacco Reporter, "Foreign Firms Dominate Iranian Cigarette Market," 5/18/21)
 

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JTI attended the 2nd Iran International Banking 2017 Forum at the Steigenberger Frankfurter Hof in Frankfurt, Germany in July 2017.

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In 2016, JTI’s leading brand,Winston, recorded double-digit volume growth in 34 markets and record market shares in 20 markets, including Iran. In addition, JTI launched its Camel brand into the Iranian market. (JTI Website, “Japan Tobacco Inc. Annual Report FY2016”).

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In October 2015, the Financial Times reported that Japan Tobacco International’s Iranian subsidiary, JTI Pars, acquired the privately owned Iranian cigarette maker, Arian Tobacco Industry (ATI), in an attempt to reinforce its position as the market leader in Iran. (Financial Times, “Japan Tobacco buys Iranian cigarette maker to boost dominance,” 10/18/2015).

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Lists JTI Pars PJSCO in Tehran, iran as its Iran head office.

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"Japan Tobacco, owned 50 per cent by the Japanese government, has been aggressively expanding overseas as demand declines at home. The company dramatically ramped up production in Russia last year and has a major presence in Ukraine, Iran, Turkey and Malaysia." (The Globe and Mail, "Deals, dividends and growth set tobacco stocks alight," 4/11/07)

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"GIANTS WITH A FOOT IN TEHRAN: Total, Shell, Statoil, BNP Paribas, Commerzbank, MTN, UPS, Linde, Technip, Nokia, Ericsson, Peugeot, Renault, OMV, Societe Generale, ENI, Mitsubishi, Sumitomo, Siemens, LG, Samsung, Bosch, Valeo, Nestle, Unilever, BAT, Japan Tobacco. (The London Times, "American pressure threatens UK firms," 5/27/06)

On February 16, 2021, Iowa Public Employees' Retirement System removed Inpex from its Iran Prohibited Companies List. 

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As of August 15, 2019, the state of Iowa listed Inpex on its Iran scrutinized companies list.

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"Japan’s biggest energy explorer, Inpex Corp, said on Thursday it may drop its second attempt to join in developing Iran’s South Azadegan oilfield after U.S. President Donald Trump said he will re-impose sanctions on Tehran. The company was forced to relinquish a 10 percent stake in Azadegan in 2010 because sanctions by the United States on Iran made it difficult to access financing for the project." (5/10/2018)

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In 2018 the U.S. state of Iowa listed Inpex on its Iran prohibited companies list rendering Inpex ineligible for investment and/or state contracting.

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In 2017 the U.S. state of Rhode Island, South Carolina and Tennessee listed Inpex on its list of companies doing material business with Iran rendering Inpex ineligible for investment and/or state contracting.

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"Japan’s Inpex Corp is in the running to develop a major oilfield in Iran, Kyodo News reported on Wednesday, as Tehran looks to aggressively ramp up crude output following the lifting of sanctions. Japan’s top energy developer is a strong candidate for the project after signing a memorandum of understanding (MOU) to look into developing the Azadegan oilfield, Kyodo said, citing Noreddin Shahnazizadeh, managing director of Iran’s Petroleum Engineering and Development Company." (January 4, 2017).

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"Japan’s Inpex Corp. might participate in a tender to develop the Azadegan oil field in southwestern Iran and form a consortium with other foreign oil firms to that end, a high-ranking Iranian official says." (August 2017)

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On January 3, 2017, NIOC listed Inpex as one of the “designated 29 non-Iranian companies [ ] qualified to participate in its pending tender round for upstream projects.”  (Oil & Gas Journal Website, “NIOC qualifies 29 firms for tender round,” 1/3/2017). 

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"Japan's Inpex Corp is in the running to develop a major oilfield in Iran, Kyodo News reported on Wednesday, as Tehran looks to aggressively ramp up crude output following the lifting of sanctions. Japan's top energy developer is a strong candidate for the project after signing a memorandum of understanding (MOU) to look into developing the Azadegan oilfield, Kyodo said, citing Noreddin Shahnazizadeh, managing director of Iran's Petroleum Engineering and Development Company. Kyodo reported that a tender would be held around the first quarter of this year... Iran has named 29 international companies as being allowed to bid for oil and gas projects using the new, less restrictive Iran Petroleum Contract (IPC) model, including five Japanese firms, Inpex, Itochu Corp, Japan Petroleum Exploration (Japex), Mitsubishi Corp and Mitsui." (Reuters, "Japan's Inpex is running to develop Iran oilfield: media," 1/4/2017).

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In 2012, Inpex was removed from the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran after it clarified its involvement.

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In 2011, Inpex was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because of oil-related investment of US $20 million since 1996.

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"The United States said on Wednesday it will not investigate Inpex Corp, Japan's top oil explorer, for its past investments in Iran because of its decision to pull out of an Iranian oilfield project. Inpex on Oct. 15 announced that it would withdraw from Iran's Azadegan oil field project because new U.S. sanctions against Iran over its nuclear program posed a potential threat to the company's business. The company, which had a 10 percent stake in the oil field, feared the sanctions could hamper its ability to raise money from U.S. institutions as well as hinder its global projects... In a statement, the State Department said U.S. Secretary of State Hillary Clinton had decided to use a provision of the Iran Sanctions Act to spare the company from an investigation into its past investments in Iran's energy sector. 'This decision is a result of INPEX's Oct. 15 announcement to complete its withdrawal from the $2 billion project in Iran's South Azadegan oil field,' the department said, saying Inpex had promised not to conduct any energy-related activity in Iran that could trigger Iran Sanctions Act sanctions." (Reuters, "U.S. will not probe Inpex's Iranian activities," 11/17/10)

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On October 15th, Inpex confirmed that it is withdrawing from Iran's Azadegan oil field project, in a move designed to avoid running afoul of US sanctions. A company representative stated that "Inpex Corp has reached an agreement with Iran's state oil company that its subsidiary will withdraw from the Azadegan oilfield project" (AFP, "Japan exits Iran's biggest onshore oil field project," 10/15/2010). 

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“The Japanese government and oil developer Inpex Corp. plan to completely withdraw from Iran's largest onshore oil field project to avoid possible US sanctions, news reports said Thursday. The move, which may be announced this week, is to prevent government-backed Inpex being included in a list of companies subject to US sanctions against Iran, the Yomiuri Shimbun and the Nikkei reported, citing government sources. Iran's Azadegan oilfield, which has some 42 billion barrels of oil, was initially to have been developed with Inpex.” (AFP, "Japan to withdraw from oil project: reports," 9/30/2010)

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"Reports issued by U.S. researchers attempting to document activity by multinational companies in Iran have named Inpex Corp...as doing business that could possibly run afoul of the new U.S. rules.

Inpex has a 10% stake in the Azadegan oil field in southwestern Iran, and has no current plans to sell that holding, Mr. Kitamura said."We are responsible on our shareholders' behalf for recovering money we had invested," he added. Inpex was named in an April report by the U.S. Government Accountability Office listing 41 firms from around the world that had commercial activity in Iran's oil, gas and petrochemical sectors from 2005-2009.

Inpex, which engages in extensive global oil-and-gas activities, initially owned a 75% stake in the Azadegan project and was set to be the operator of the field. But in 2006, as the U.S. was stepping up pressure on allies to curb business ties with Iran, the National Iranian Oil Co. took over the bulk of the project's shareholding and operations."

(Wall Street Journal, "New U.S. Law on Iran May Hurt Japanese Firms," 7/1/2010)

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"Japanese energy producer Inpex Corp. (1605.TO) and plant maker JGC Corp. (1963.TO) are included in a list of companies that have been confirmed by the U.S. Government Accountability Office to have either signed an agreement to conduct business, invested capital or received payment for providing goods or services in connection with a Iranian oil, gas, or petrochemical projects during the 2005-09 period.

Inpex has been engaged in the development of the Azadegan oil field in southwestern Iran, and JGC participated in expanding a refinery located in Arak, western Iran, according to the GOA report, which was released April 22. Members of the U.S. Congress are debating legislation that would impose unilateral sanctions against Iran over its uranium processing activities.

Inpex owned a 75% stake as the operator in the Azadegan project, but parted with most of it to National Iranian Oil Co., its project partner, in 2006 after a continued delay in starting development work at the site.... Since then, Inpex has held a 10% interest in Azadegan while NIO has owned the remainder as the operator." (Down Jones Newswires, "Japan Not Too Worried Inpex, JGC On US Sanctions List," 4/27/10)

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"The enormous New York State Common Retirement Fund plans to divest $86.2 million in investments from nine companies doing business in Sudan and Iran...The decision comes after two years of reviewing these companies, the potential risk of the investments and, in some cases, humanitarian efforts in these countries.'We don't expect our investments to benefit regimes that support genocide and terrorism,' said DiNapoli.  The fund plans to divest out of $86 million in Gazprom (OGZPY), Inpex (1605.TO), Lukoil (LUKOY), Oil And Natural Gas Corp (500312.BY), OMV (OMVKY), Petroleo Brasilia (PBR), Statoil (STO), Wartsila OYJ and Sinopec Corp. DiNapoli said the firms were chosen because 'they failed to respond or we were not satisfied with their responses' when asked to provide information to the fund on the investments and their risks." (Dow Jones Newswires, "NY Comptroller To Divest $86.2M In State Pension Fund Investments," 6/30/09)

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"In 2006, Iran stripped Japan's INPEX of most of its 75 percent stake in the Azadegan oilfield for moving too slowly on drilling." (Reuters, "Big oil watches Iran vote, but investment distant," 6/5/09)

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"After years of negotiation, Japans Inpex Company agreed in 2004 to invest 75 percent of a $2 billion plan to develop Azadegan. But two years later, Iran cut Inpex's share to 10 percent, complaining that the firm was delaying on the project -- apparently under pressure by Washington."  (Associated Press, "Iran looks to tap key oil field with homegrown crews," 5/11/08)

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"Japan's state-controlled Inpex Holdings Inc. owned 75% of the Azedegan project but had consistently pushed back the launch because of the tense political environment. Increasingly impatient and with competitors such as China eager to pick up any slack, Tehran and Inpex finally agreed to slash the Japanese companys stake to just 10%." (Los Angeles Times, "Japan runs obstacle course in search of energy security," 11/4/06)

"Golrang Motor Family has imported a new Honda crossover model to Iran and will start sales soon. Local automotive website, Asbe Bokhar says Golrang Motor showcased the new Honda HR-V at its headquarters in Tehran at the weekend." (July 2017)

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"Japanese car manufacturer Honda's product portfolio will be completely available in Iran by the end of this year, according to a company official. Honda's CR-V and Accord models are already available in Iran's market and with the addition of several new cars, including Accord Hybrid, the product portfolio of Honda will be complete. Golrang Motor Family says it is the representative of Honda's sales and after-sales services in Iran.  "One of our main targets in the current year is to increase the number of our branches throughout the country," he said. "We have six branches right now and we have planned to raise this number to 14 by the end of this year." Noori announced that two new branches of Golrang Motor Family will be opened in Tehran this week. The company is selling Honda Accord EXL, Accord EXB, CR-V EXL and CR-V Touring." (Financial Tribune, "Honda Expanding Presence in Iran," 7/19/2016).

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"Previously, 25 car brands were included in the list, such as South Korean brands (Kia and Hyundai), Chinese brands (SAIC motors), Italian brands (Fiat, Alpha Romeo), Japanese brands (Honda, Mitsubishi), German brands (ABT), and Swedish brands (Volvo)." (Azer News, "Iran bans imports of renowned car brands," 5/27/2013)

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"Honda operated in Iran from 1974 to 2008, according to a company spokesman. The company partnered with an Iranian company, Tizro, to make motorcycles and exported power equipment to the country. Honda ended its relationship with the Iranian company in 2008, and has no plans for future investments there, but will continue providing parts until 2012 because of contractual obligations, the company said."  From 2000-2009, the company was the recipient of $6.3 million US federal funds.  Their activities in Iran are currently active, but there are no plans for new investments. (The New York Times, "Profiting from Iran, and the US," 3/6/2010)

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"Rep. Mandel startled veteran lawmakers when he announced plans for a bill that would force the states five public pension funds to divest themselves of stock in foreign companies doing business in Iran. The funds manage over $180 billion in assets, and among the companies targeted were more than a dozen with major investments in Ohio, including Japans Honda Motor Co." (The Associated Press, "Should states sell stocks to protest links to Iran?" 6/14/07)

According to its 2019 Annual Report filed with the SEC: "CMSC, a wholly-owned Japanese subsidiary of Canon Inc., had indirect sales transactions through independent distributors in Istanbul, Turkey, Sharjah, United Arab Emirates and Tehran, Iran for computed tomography, diagnostic ultrasound systems and service parts for those products with hospitals in Iran. It is our understanding that Iranian hospitals are owned or controlled by the Government of Iran (central or local government) and that their purchases are controlled through an agency of the Iranian Ministry of Health and Medical Education. Total gross sales under these contracts during the year 2019 were approximately ¥142,431 thousand. The net profit was substantially less than that."

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As of August 27, 2019, Canon is listed on the Illinois Investment Policy Board list of Iran restricted companies.

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According to its Annual Report filed with the SEC in 2017: "After considering recent changes in the international situation and economic sanctions relating to Iran, Canon has restarted business with certain Iranian counterparties. Canon maintains policies and procedures designed to ensure that transactions, including transactions with Iranian counterparties, are conducted in accordance with applicable economic sanction laws and regulations."

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According to Canon’s 2016 SEC disclosure, Canon has contracts with the Iranian embassies in Tokyo, Japan, Iran Air in Kuala, Malaysia, CSPL in Thailand and India, the Iranian embassy in Australia, Consulate General of Iran in Germany, CENV Iranian embassy in Denmark. Canon has restarted business with certain Iranian counterparties. 

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"Canon Middle East manages sales, marketing and technical activities across 36 countries, including Iran, where Canon has been selling products since at least 2000, according to the company Web site."  The company received $503.2 million in revenue and benefits from the US for their business in Iran during 2000-2009.  Their business in Iran is currently active. (The New York Times, "Profiting from Iran, and the US," 3/6/2010)

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An AP review of corporate SEC filings found dozens of companies that have done business in Iran in recent years or said their products or services may have made it there through other channels. Some are household names: PepsiCo, Tyson Foods, Canon, BP Amoco, Exxon Mobil, GE Healthcare, the Wells Fargo financial services company, Visa, MasterCard and the Cadbury Schweppes candy and beverage maker. (Associated Press, "From bull semen to bras, Iran still buys American," 7/09/08)

In October 2017, Japanese tire-marker Bridgestone Corp. has started distribution of its products in Iran, through Arian Tire Pouya…”

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"Bridgestone products are distributed in Iran through Mileace General Trading LLC in Dubai and an associated company, Polsang Co. Ltd. in Tehran, according to Bridgestone's Web site. The company also has sold tires to the American military." The company received $8.4 million from the US government for their investments in Iran during 2000-2009.  Their business in Iran is currently active.  (The New York Times, "Profiting from Iran, and the US," 3/6/2010)

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"The bill, which roped in companies with even small engagements with Iran, affected not only Honda, but DaimlerChrysler AG, Bridgestone Corp., Siemens and ThyssenKrupp AG, all of which have factories in Ohio. The pension funds estimated that the targeted companies employed more than 45,000 workers in the state." (The Wall Street Journal, "Should states sell stocks to protest links to Iran," 6/14/07)

"Bank of Tokyo-Mitsubishi UFJ (BTMU), Sumitomo Mitsui Banking Corporation and Mizuho Bank have already started transactions with the Iranian banks," said Farhad Taqizadeh Hesari, a senior associate to the head of the Asian Development Bank Institute (ADBI). (5/13/2017).

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Bank of Tokyo-Mitsubishi “has resumed transactions with Iranian banks, including payments for Iranian crude oil bought by Japanese refiners. To avoid transactions in the U.S. Dollar, Bank of Tokyo-Mitsubishi is using Japanese Yen and Euros to handle transactions involving Iranian oil."   (Platts, “Japan's Bank of Tokyo-Mitsubishi UFJ restarts Iran oil transactions,” 2/9/2016).

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The Bank of Tokyo-Mitsubishi UFJ is Japan's largest bank and serves as the core retail and commercial banking arm of the Mitsubishi UFJ Financial Group

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"More than a year after paying a steep penalty for doing business with Iran, one of the world's biggest banks is back in regulators' cross hairs. New York State's chief banking regulator on Tuesday announced a $315 million settlement with the Bank of Tokyo-Mitsubishi UFJ, accusing the bank of 'misleading regulators' about its business with Iran and other countries blacklisted by the United States. The latest action is an outgrowth of a separate settlement, reached in June of last year, that took aim at the Japanese bank for routing transactions with Iran through New York. The initial settlement drew a $250 million penalty, a sum that was based in part on a report that assessed the extent of the bank's wrongdoing. The report, conducted by the consulting firm PricewaterhouseCoopers, was supposed to be objective." (The New York Times, "Bank of Tokyo Fined for ‘Misleading’ New York Regulator on Iran," 11/18/14)

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"Commerzbank on Thursday warned shareholders it may face considerable fines from U.S. authorities as a result of investigations into alleged embargo breaches with countries like Iran, Sudan and North Korea." (Reuters, "Commerzbank says may pay big to settle Iran case with U.S.," 11/6/14) 

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"New York's banking regulator has demanded $300 million from Bank of Tokyo-Mitsubishi UFJ as part of a potential agreement over sanctions-related violations, according to people familiar with the matter. The demand comes on top of a $250 million settlement Japan's largest bank negotiated with the regulator last year for deleting information from $100 billion in wire transfers that authorities could have used to police transactions with Iran, Sudan, Myanmar and other entities subject to U.S. sanctions. The new penalty stems from the discovery after the June 2013 settlement that the bank had submitted a report that allegedly whitewashed a scheme to falsify transactions for entities subject to the sanctions." (Reuters, "Exclusive - New York demands another $300 million from Bank of Tokyo-Mitsubishi - sources," 11/5/14)

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“Iran will receive $4.2 billion from its oil sales to be transferred in instalments if it fulfils its commitments in a landmark nuclear deal struck between world powers and Tehran in Geneva. Here is a look at where Iranian oil payments are held in the countries in Asia that are still importing crude from the OPEC producer…

COUNTRY: Japan

BANK: Bank of Tokyo-Mitsubishi UFJ

ESTIMATED AMOUNT: The total amount held is unclear, but Japan imported about $4.7 billion worth of Iranian crude between February and September, according to data from the Finance Ministry.” (Reuters, “FACTBOX-Iran's oil fund stash in Asia,” 11/25/13)

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“On Thursday, the state’s top financial authority, Benjamin M. Lawsky, imposed a $250 million fine on the Bank of Tokyo-Mitsubishi UFJ — nearly 30 times what the federal government extracted last year.  The bank, which agreed to settle the New York case, was accused of routing 28,000 payments worth about $100 billion on behalf of Iran and other countries blacklisted from doing business in the United States. In contrast, federal authorities at the Treasury Department cited the bank for processing 97 fund transfers, worth about $6 million…In the Bank of Tokyo-Mitsubishi UFJ case, the bank initially proposed settling with Mr. Lawsky’s agency for roughly $20 million, according to several people briefed on the matter. But Mr. Lawsky balked, the people said, pushing for a bigger fine and additional requirements, like an independent third party to keep an eye on the bank’s activities.  ‘We have and will continue to take a hard line in rooting out misconduct at banks that threatens our national security,’ Mr. Lawsky said in a statement announcing the Bank of Tokyo-Mitsubishi UFJ deal… In the Bank of Tokyo-Mitsubishi UFJ case, he seized on the bank’s attempts to disguise the transfers from Iran. To avoid detection, Mr. Lawsky said, the bank told employees to omit information from wire transfers that could have exposed how the bank was working with an ‘enemy country.’  The bank, Mr. Lawsky said, approved the illegal transfers over at least five years, ending in 2007. The transfers involved ‘government and privately owned entities’ in Iran.  Additionally, the bank had dealings with Sudan and Myanmar. At the time, those countries were all operating under United States sanctions.  In a statement, the Bank of Tokyo-Mitsubishi UFJ said it was ‘committed to conducting business with the highest levels of integrity and regulatory compliance.’ The bank also noted that it voluntarily alerted regulators to its activity and has since moved to bolster its internal controls.” (NYT, “Regulator in New York Sets Tough Bank Fine,” 6/20/13)

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"The Bank of Tokyo-Mitsubishi UFJ Ltd. was ordered to transfer funds belonging to Iran-based entities to the families of 17 U.S. Air Force service members killed in a 1996 attack in Saudia Arabia... The assets at issue total about $357,000 and Bank of Tokyo said it doesn’t oppose releasing them, according to the filing." (Bloomberg, "Bank of Tokyo-Mitsubishi Must Give Iran Funds to U.S. Families," 1/29/2013)

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"Bank of Tokyo-Mitsubishi UFJ, which handles most of Japan's payments for oil imports from Iran, on Thursday said it had frozen transactions with Iranian banks after being ordered to do so by the New York District Court earlier this month." (Reuters, "Japan looks to central bank to pay for Iran oil: Nikkei," 5/21/2012)

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Bank of Tokyo-Mitsubishi announced that “it had frozen transactions with Iranian banks after being ordered to do so by the New York District Court.”  (Reuters, “Bank of Tokyo-Mitsubishi freezes Iran transactions,” 5/17/2012).  

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"The National Iranian Oil Co., the country’s state-run oil company, will stop Japanese refiners from picking up cargoes until it can find alternative ways to access payments received through accounts at the Bank of Tokyo unit of Mitsubishi UFJ Financial Group Inc. (8306), the officials said, declining to be identified because of company policies... A district court in New York told Mitsubishi UFJ this month to freeze at least $2.6 billion of Iranian assets held at the bank, Tomohiro Kosaka, a Tokyo-based spokesman for Mitsubishi UFJ, said today... Mitsubishi UFJ filed a petition of objection yesterday to the New York court, said Shinya Matsumoto, a spokesman for the lender in Tokyo." (Bloomberg Businessweek, "Iran Crude to Japan Said to Face Blocks After Court Order," 5/17/2012)

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"Two additional challenges are also in the mix for Tokyo. The first is the financing of oil imports from Iran. Annually, Japan’s oil trade with Iran runs around one trillion yen, or $13.1 billion. On January 19 the Nikkei Shimbun reported that 80 to 90 percent of those transactions are done by the Bank of Tokyo Mitsubishi UFJ, and the remainder by the Sumitomo Mitsui Banking Corporation." (CFR. "Japan's Iran Sanctions Dilemma," 1/31/12)

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Listed by U.S. Government as doing business in Iran. (U.S. Securities and Exchange Commission, List of Companies Doing Business With State Sponsors Of Terror, Removed from the internet in July of 2007)

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"Three Japanese major banks will refrain from doing business with Iran's state-run bank in line with US financial sanctions, reports said Saturday. The Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp. will not deal with Bank Saderat Iran, the Jiji and Kyodo news agencies said." (Kurdish Globe, "Japan banks to refrain from deals with Iran bank," 9/16/06)