MUFG Set the Record for 1H Results on Many Cyclical Upswings, Shares Remains Undervalued
Mitsubishi UFJ Financial Group, or MUFG, posted a near-historic first-half result in line with our more optimistic estimates for the quarter. For the six months ended September 2017, the bank was able to take advantage of many cyclical upswings in the domestic market and combined with strong balance sheet management, helped offset structural weakness in domestic banking. Larger-than-expected stock gain mostly from Aberdeen Asset Management (JPY 55 billion) and increasing affiliate profit contrib...
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