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Companies

MUFG eyes hundreds of millions in losses after US write-downs

Falling interest rates squeeze American acquisitions

Mitsubishi UFJ Financial Group is expected to suffer a blow from falling U.S. interest rates.

TOKYO -- Mitsubishi UFJ Financial Group is expected to log hundreds of millions of dollars in losses after writing down the goodwill of banks previously acquired by American operations.

U.S.-based group member Union Bank and local banks that it bought have many mortgages on their books. Mortgages accounted for 45% of total lending by MUFG's American operations at the end of December.

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