MUFG acquires 9.98 million shares in JACCS

MUFG sees JACCS as a core company in its consumer finance strategy.

MUFG Bank is acquiring over 9.98 million shares of common stock in JACCS, the Japanese bank announced.

The deal will be done via a capital increase by a third-party allotment, according to a press release.

With this, the ratio of the total number of voting rights for common stock held by MUFG Bank, MUFG, and its subsidiaries and affiliated companies will account for 40% of all voting rights in JACCS.

JACCS is a consumer finance company involved in the credit business, credit card and payment business, financing business, and overseas ventures.

The move is part of MUFG’s move to strengthen its domestic retail customer base. MUFG expects JACCS to play a core role in its consumer finance strategy.

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