Mitsubishi Tokyo Financial Group Inc. UFJ Holdings Inc., The Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Limited have concluded a basic agreement related to Mitsubishi Tokyo’s cooperation in strengthening UFJ’s capital.
UFJ and/or UFJ bank will strengthen its capital by injecting YEN500 billion and MTFG and/or BTM will participate in such capital strengthening. In addition, subject to further agreement between Mitsubishi Tokyo Financial Group and UFJ Group, and as is necessary, UFJ and/or UFJ bank will increase its capital by up to YEN200 billion, subject to the appropriate approvals.
The capital strengthening is one of the items contained in the memorandum of understanding with respect to the management integration and other matters agreed upon between the two groups. The conclusion of this basic agreement has been approved at meetings of the respective boards of directors of the four companies.
The capital increase will occur on or before September 30, 2004.