Japan’s biggest banks expect another year of record profit
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Mitsubishi UFJ Financial Group and Mizuho Financial Group project record profits for the upcoming year, with MUFG expecting a net income increase of 11% to 2.7 trillion yen and Mizuho forecasting a 4% rise to 1.3 trillion yen. Both banks plan to buy back shares worth up to 100 billion yen. However, the ongoing Middle East conflict poses risks to Japan's economy, potentially affecting credit quality and demand.
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