Rising Momentum for Excess Capital Return at Mitsubishi UFJ; Maintaining FVE at JPY 880 per Share
We reduce our uncertainty rating to high from very high, as we have an increased level of confidence in Mitsubishi UFJ's earnings forecasts. The result has no impact on our fair value estimate of JPY 880 and our 3-star recommendation. We also reaffirm our no-moat rating on the bank. We previously raised our uncertainty rating to very high on the basis of higher systemic risk arising from the implementation of the negative-interest-rate policy in February 2016. Since then, the bank’s operating en...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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