Mitsubishi UFJ’s Weak First-Half Results Mask Large Upside From Rising Asset Yields in the Future
We attended Mitsubishi UFJ's analyst presentation after MUFJ reported better-than-expected semiannual results last week. The result, along with recent events including the U.S. election, had a major impact on our estimates. We believe the more severe headwinds for the Japanese bank have been turning into softer tailwinds for its large U.S.-dollar-denominated balance sheet. Furthermore, signs of a higher term premium emerging on its yen-denominated balance sheet are also positive.The semiannual ...
Mitsubishi UFJ Financial Group is financial groups with total assets of Y297,185,019 million as of Mar. 31, 2017. Co. is the holding company for The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mitsubishi UFJ Trust and Banking Corporation, Mitsubishi UFJ Securities Holdings Co., Ltd., Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Mitsubishi UFJ NICOS Co., Ltd., and other companies. As a bank holding company, Co. is regulated under the Banking Law of Japan. Its services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management, leasing and many more fields of financial services.
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