(Reuters) - TOKYO, April 13 - Japanese consumer lender Mitsubishi UFJ Nicos Co. on Friday estimated a bigger-than-expected $438 million annual net loss after it hiked reserves against legal claims by borrowers.
Japanese consumer loan firms have been hit by a flood of demands to repay interest charges deemed by courts to be illegally high. Many have fallen deep into the red, forcing them to cut jobs, shrink their branch networks and in some cases seek outside financial help.
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