Mitsubishi UFJ Financial Group (MUFG) has said that it’s wholly owned subsidiary, MUFG Capital Finance 9, has decided to sell JPY370 billion in Non-dilutive Preferred Securities to strengthen capital base depleted by losses on investments
In a statement to the Tokyo Stock Exchange the bank said that it will sell Series A, Series B and Series C types of Japanese Yen-denominated non-cumulative perpetual preferred securities of worth JPY370 billion that are not convertible into common stock, to institutional investors in Japan this month.
MUFG has raised more than JPY1.3 trillion since November by selling shares, bonds and securities, after booking a loss of JPY257 billion in the year ended March 31 due to soured investments and rising bad loans, reported Bloomberg.
MUFG Capital Finance 9 Limited is a special purpose subsidiary newly established in the Cayman Islands under the laws of the Cayman Islands, and in which MUFG has 100% voting rights.
