Struggling trading house Marubeni Corp. said Wednesday it will raise 75.5 billion yen by issuing preferred shares through third-party allotment mainly to financial institutions.
The move is part of the company's efforts to boost its depleted capital by some 100 billion yen over three years. The firm said it hopes its growing profit will enable it to secure the remaining 25 billion yen without relying on another share issuance.
Marubeni said it will invest the bulk of the 75.5 billion yen in food retailing, natural resource development and overseas power sales projects.