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Updated Tuesday, December 1, 2009 10:58 am TWN, Bloomberg

Mitsubishi UFJ will raise up to 1.056 trillion yen

TOKYO -- Mitsubishi UFJ Financial Group Inc., Japan's largest bank by market value, said it plans to raise as much as 1.056 trillion yen (US$12 billion) by selling new shares to boost its capital in anticipation of stricter global rules. The Tokyo-based bank, which had on Nov. 18 said it may raise 1 trillion yen, said terms of the sale will be determined between Dec. 14 and Dec. 16. The company intends to offer 2.17 billion shares to Japanese and local investors, with an option to sell a further 163 million to meet excess demand, it said in a filing Monday with the Ministry of Finance.

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