Sojitz Holdings Corp., the parent of troubled trading house Sojitz Corp., announced Friday it will seek a capital injection of around 250 billion yen from UFJ Holdings Inc., the UBS group of Switzerland and other financial institutions.
The announcement came a week after UFJ, Sojitz's main lender, publicized the fact that it was in merger talks with Mitsubishi Tokyo Financial Group Inc.
UFJ, the country's fourth-largest lender, has been under intense pressure to slash bad loans as it lags well behind its rivals.