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MUFJ Comes First to Finish Repaying Public Funds

6, 06. 2006

Mitsubishi UFJ Financial Group Inc. said it will complete the repayment of the public funds on Jun 9, according to its announcement on Jun 5. The government injected public funds to the major Japanese banks in late 1990s as they were suffering from bad loans. MUFG is the first banking group to finish the repayment.

The remaining value of the public money is now 297.4 billion yen, and is owned by the state-run Deposit Insurance Corp. as preferred shares, which have additional rights for receiving dividends. The shares will be sold for 418.4 billion yen in total, at 1.5 million yen per share. The government is expected to receive the profit of 120 billion yen after the deal.

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