TOKYO (Thomson Financial) - Mitsubishi UFJ Financial Group Inc (MUFG), Japan's largest banking group, said Tuesday that it may have to revalue some of its investment securities as a result of the market turmoil stemming from US subprime mortgage defaults.
An MUFG spokesman said the bank informed the US Securities and Exchange Commission in a filing last week that prices for some securities have declined because of financial market fluctuations.
The bank said the deterioration of credit markets may cause further fluctuations in global financial markets, which is a risk factor for the company to the extent that it may have to revalue further some of its securities holdings, according to the spokesman.
(1 US dollar = 114.71 yen)
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