Japan's MUFG to raise stake in Acom to 40 pct -paper

TOKYO Aug 28 (Reuters) - Mitsubishi UFJ Financial Group (8306.T) will raise its stake in consumer lender Acom Co (8572.T) to 40 percent from the current 15 percent to make it a unit, the Mainichi newspaper said on Thursday.

Mitsubishi UFJ, Japan's top lender, will need to invest about 140 billion yen ($1.28 billion) to make Acom a subsidiary, the paper said.

A Mitsubishi UFJ spokesman said nothing had been decided at present, while Acom said in a statement no decision had been made. ($1=109.21 Yen) (Reporting by Aiko Hayashi; Editing by Chris Gallagher)