The capital-raising by Japan's largest banking group comes as tumbling stock prices and a deteriorating economic outlook threaten to undermine its financial health amid the global credit crisis.
MUFG said it would raise up to Y390bn in non-convertible preferred shares to undetermined investors and up to Y600bn in common stock, in the largest fund-raising in Japan so far this year.
The move follows a spending spree by Japan's largest banking group which has pumped $9bn into Morgan Stanley for a 21 per cent stake and $3.5bn to take 100 per cent control of Union Bank of California.
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