Japan's major banks reported a mixed bag of earnings results for the April-December period, as valuation losses from equity holdings and an incoming corporate tax shake-up prompted a number of firms to book charges.
Mitsubishi UFJ Financial Group Inc. was the only one of Japan's megabanks to report net profit gain in the period from the year before. Japan's biggest bank by assets logged a 48% surge in net income largely due to a one-time gain from conversion of its holdings of preferred shares in Morgan Stanley into common shares at the end of June.
[MUFG]
MUFG said its net profit came to ¥815.80 billion in the nine-month period, compared with a ¥551.83 billion profit in the same period a year earlier. (Wall Street Journal)
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