Mitsubishi offers to buy 31 pct of Kentucky Japan

TOKYO, Oct 31 (Reuters) - Mitsubishi Corp (8058.T), Japan's biggest trading house, said on Wednesday it would buy 31 percent of Kentucky Fried Chicken Japan Ltd (9873.T) through a tender offer for 13.9 billion yen, raising its stake in the company to 62.8 percent.

Mitsubishi will offer 1,947 yen per Kentucky Fried Chicken Japan share, a discount of about 9 percent on Tuesday's closing price of 2,165 yen.

Kentucky Fried Chicken Corporate Holdings has agreed to the bid, Mitsubishi said in a statement.