Mitsubishi UFJ's Annual Profit Hits New Record, Helped by Higher Loan Rates — Update
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Mitsubishi UFJ Financial Group reported a record net profit of 2.427 trillion yen ($15.36 billion) for the fiscal year ending in March, a 30% increase driven by higher loan rates. The company aims for a net profit of 2.700 trillion yen this year and plans to buy back up to 100 billion yen in shares. Despite rising credit costs due to potential risks from the Middle East conflict, the stock rose 1.8%, marking a 17% gain year-to-date.
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