By Kosaku Narioka
Mitsubishi UFJ Financial Group reported its first-half results on Tuesday. Here is what you need to know.
NET PROFIT: Mitsubishi UFJ’s first-half net profit quadrupled to 927.28 billion yen ($6.11 billion) for the six months ended Sept. 30 from Y231.09 billion a year earlier. That surpassed the estimate of Y871.22 billion compiled by data provider Visible Alpha based on a poll of analysts.
REVENUE: First-half revenue climbed 31% from a year earlier to Y5.666 trillion.
WHAT WE WATCHED:
–INTEREST INCOME: First-half net interest income fell 27% from a year earlier to Y1.230 trillion, partly owing to the absence of one-off gains from the cancellation of certain investment trusts recorded last year. Excluding one-off factors, interest income from deposits and loans increased, the company said.
–FEES: First-half net fees and commissions increased 11% to Y781.33 billion, driven by an increase in foreign loan-related fees.
–BUYBACK: Mitsubishi UFJ said it would buy back up to Y400.0 billion of its own shares by the end of March 2024. The program may repurchase up to 3.3% of outstanding shares.
Write to Kosaku Narioka at [email protected]