Mitsubishi UFJ Financial Group Company Report
Mitsubishi UFJ Financial Group’s (MUFG) 40%-owned Acom announced it is provisioning an additional JPY 39.4 billion for future losses on claims of overpaid interest, or kabarai, resulting in a loss of around JPY 15 billion in the March quarter. For MUFG, Acom’s provision should mean additional costs in the March quarter of around JPY 10 billion recognized as “other non-recurring losses†rather than as credit costs. We do not see the loss as likely to put MUFG’s achievement of its full-year net pr...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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