Executives at a leading Japanese bank have apologized and taken pay cuts after police arrested an employee who allegedly stole about $9 million worth of valuables from customers’ safe deposit boxes.

A former employee of the MUFG Bank has been arrested for allegedly stealing 20 kilograms of gold bullion worth 260 million yen (US$1.6 million) from customers’ safe deposit boxes.

MUFG's status as Japan's largest bank stock makes it a recipient of favor for overseas investors who expect interest rates in Japan to rise. MUFG has a strong presence in multiple banking markets ...

The head of Japan's MUFG Bank has promised to review the financial institution's safe deposit box operations following a series of alleged thefts by a former employee.

Mitsubishi UFJ Financial Group said its banking unit chief and other senior executives will take pay cuts to take responsibility for the theft of millions of dollars from customers’ safe deposit boxes.

MUFG Bank announced Thursday it will punish executives, including President Junichi Hanzawa, for a former employee's alleged massive thefts of customer assets from safe deposit boxes.

Japan’s biggest banks are nearing a key valuation level for the first time in almost a decade as investors bet that the Bank of Japan will raise interest rates on Friday and accelerate its normalisation of monetary policy.

Insurtech startup InsuranceDekho has raised capital from Beams Fintech Fund, MUFG Bank and C. Development, documents filed with the ministry of corporate affairs showed. This is part of a larger fundraiser that could go up to $75-100 million, two people familiar with the matter told Mint.

The thefts at two branches of MUFG Bank spanned four years and ... according to the bank. The bank, one of Japan's three megabanks, was formed in 2006 by the merger of UFJ Bank and Bank of Tokyo ...

worth of valuables from customers’ safe deposit boxes. The thefts at two branches of MUFG Bank spanned four years and were uncovered last October.

“It’s DeepSeek for sure,” said one Tokyo-based fund manager of the sudden drop in Japanese tech shares, adding that the market was readjusting to the idea that hardware spending on AI — a theme that had benefited certain Japanese companies — could be a lot lower than current estimates.

THE Bank of Japan, after clearly signalling last week’s interest rate hike, may return to its accustomed fuzzy guidance about central bank policy to maintain flexibility when it eventually begins to consider how much tightening is enough.