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Tokyo-Mitsubishi UFJ Pays Bank of China $180 Million

6, 01. 2006

Bank of Tokyo-Mitsubishi UFJ is to invest $180 million (20 billion yen) in the Bank of China on Jun. 1. BOC is one of the country’s four major national commercial banks. Tokyo-Mitsubishi UFJ is the first Japanese bank to invest in a Chinese bank.

The Japanese bank will buy a part of newly-issued shares of the BOC, which makes IPO at the Hong Kong Stock Exchange on the same day. It hopes to build deeper cooperation between the banks through the investment, and to study know-how in doing business in China.

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