MITSUBISHI UFJ FINANCIAL GROUP, INC By Kosaku Narioka
Mitsubishi UFJ Financial Group reported a rise in fiscal-year net profit to an all-time high, supported by higher fees and commissions.
The Japanese financial company said Wednesday that net profit increased 34% to a record of 1.491 trillion yen ($9.53 billion) for the year ended March.
Net fees and commissions rose to Y1.681 trillion from Y1.555 trillion the previous fiscal year.
The company booked total credit costs of Y497.91 billion, lower than the Y674.84 billion it recorded the previous fiscal year.
Mitsubishi UFJ also booked net losses on debt securities of Y450.755 billion, down from losses of Y884.62 billion the previous year.
For the year that began in April, Mitsubishi UFJ targets net profit of Y1.500 trillion.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
05-15-24 0429ET
