Executives at a leading Japanese bank apologized and took pay cuts on Thursday after police arrested an employee who allegedly stole about 1.4 billion yen ($9 million) worth of valuables from customers’ safe deposit boxes.

A former MUFG Bank employee accused of stealing valuables from customer safe deposit boxes reportedly admitted to using overseas trading plat

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.

The Japan Bank for International Cooperation will provide up to 800 million euros ($822 million) in loans to a major German telecom c

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.

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.

Mitsubishi UFJ Financial Group Inc. 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’ safety deposit boxes.

At least 60 clients have been victims of the safe deposit box thefts, with the total damage expected to exceed ¥1 billion.

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 ...

The thefts at two branches of MUFG Bank spanned four years and were uncovered last October. The employee, who was dismissed, is believed to have stolen gold, cash and other valuables worth about 1 ...

Mizuho Bank is the first to have stopped accepting new safe deposit box customers among the country's three megabanks. The other two are MUFG Bank and Sumitomo Mitsui Banking. Mizuho Bank basically plans not to install safe deposit boxes at branches it will open in the future.

Mizuho Bank has stopped accepting new customers for its safe deposit box services in principle, partly in the wake of a high-profile theft case at rival MUFG Bank, it was learned Sunday.