TOKYO (Reuters) – Mitsubishi UFJ Financial Group Inc, Japan’s largest lender by assets, on Monday reported a 70.5% slide in second-quarter net profit because of another one-off loss related to the sale of U.S. unit MUFG Union Bank.
Mitsubishi UFJ, which owns about 22% of Morgan Stanley, posted a net profit of 117.41 billion yen ($841.83 million) for the July-September period, against 398.4 billion yen a year earlier, according to Reuters’ calculations based on six-month cumulative figures disclosed in a filing.
The Japanese bank maintained its full-year profit forecast of 1 trillion yen, a 12% drop from the previous year when it posted a record profit. The outlook compared with an average forecast of 1.04 trillion yen from 12 analyst estimates compiled by Refinitiv.
($1 = 139.4700 yen)
(Reporting by Makiko Yamazaki; Editing by David Dolan and Christian Schmollinger)
