JAPAN

Mitsubishi Bank to Acquire Nippon Trust Stake: Mitsubishi Bank will invest nearly $2 billion to acquire a controlling stake in financially troubled Nippon Trust Bank, the two banks announced. The takeover is the biggest banking industry rescue since the collapse of Japanese real estate and stock prices a few years ago, which left many banks holding huge sums in bad loans. The deal gives Nippon Trust a badly needed cash injection that will help it write off problem loans. Japanese regulations normally bar commercial banks like Mitsubishi from certain trust bank functions, such as pension fund management, so a benefit to Mitsubishi Bank from the acquisition is the opportunity to expand into these areas through Nippon Trust.