UPDATE 1-Japan's MTFG says to issue Y250 bln pref shares

Newswire

(Adds background) TOKYO, Jan 27 (Reuters) - Japan's Mitsubishi Tokyo Financial Group (MTFG) said on Thursday it would issue 250 billion yen ($2.42 billion) in new preferred shares to boost the capital of its core banking unit, Bank of Tokyo-Mitsubishi. The first capital raising for Japan's No. 2 banking group since it turned to the market for about 300 billion yen in 2003 comes ahead of a planned takeover of UFJ Holdings Inc. , the country's ailing fourth-ranked lender, in October. ...

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