MUFG's 2016 Results Suggest Few Initiatives to Address Low Asset Efficiency and Elevated Cost Base
No-moat-rated Mitsubishi UFJ Financial Group reported fiscal 2016 results below our high expectations. For the year ended March 2017, lower revenue from the domestic operation almost matched the higher profits from the international units while the group's restructuring charges in the unsecured consumer lending unit offset lower credit charges and larger gains on equity market upswings. Net profits decreased 2.6% to JPY 926 billion, with net business revenue falling 3.2% year on year. Although t...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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