By David Dolan 2 hours, 51 minutes ago TOKYO (Reuters) - Mitsubishi UFJ Financial Group (8306.T), Japan's largest bank, said it would bid $3 billion to buy the remaining 35 percent of California's UnionBanCal Corp (UB.N), as it looks for growth beyond its softening home market.The purchase represents a significant bet by Mitsubishi UFJ, which is looking to increase its presence in the United States even as the world's largest economy continues to stumble through the subprime mortgage crisis.
Saddled with slow economic growth and a declining population at home, Japanese financials, which have avoided much of the subprime meltdown, are increasingly aiming to boost their small market shares in the West.
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