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Finance

Archegos fallout: Mitsubishi UFJ Securities warns of $300m loss

Brokerage becomes latest Japanese financial institution rocked by market turmoil

Mitsubishi UFJ Financial Group is Japan's largest banking group.    © Reuters

TOKYO/NEW YORK -- The stock market turmoil linked to U.S. investment firm Archegos Capital Management appears to have hit another of Japan's biggest financial groups.

Mitsubishi UFJ Securities Holdings, part of top Japanese banking group Mitsubishi UFJ Financial Group, on Tuesday said it faces a potential loss estimated at $300 million at a European unit, adding that the loss was related to an unnamed "U.S. client."

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