Mitsui Mutual Life turns to Sakura bank in bid to increase capital

Japan’s Mitsui Mutual Life said that it is seeking a capital injection of ¥130 to ¥150bn from Sakura Bank and other Mitsui Group firms. The news comes at a time when falling premiums and poor investment returns due to sliding stock prices and razor-thin interest rates have left Japanese life insurers struggling to pay yields promised to policy holders.