Mitsubishi UFJ Financial Group plans to raise up to Y1,000bn ($11.2bn) in a sale of new shares and delay by two months the planned merger of its securities arm with Morgan Stanley’s Japanese brokerage unit, reports the FT. The share issue, one of the largest by a Japanese institution, is aimed at boosting its capital base ahead of tighter international regulation. The WSJ adds that MUFG on Wednesday said group net profit in the six months to Sept 30 soared 53% to Y140.95bn ($1.58bn) from the same period a year ago, thanks to gains in trading. MUFG kept its full-year forecast unchanged at Y300bn.

This entry was posted by Gwen Robinson on Thursday, November 19th, 2009 at 4:47 and is filed under Capital markets, M&A. Tagged with morgan stanley, MUFG. Edit this entry.