Morningstar - Mitsubishi Tokyo Financial Group ADS (MTU.N) MUFG Price for First State Seems Reasonable Given Exposure to Growing Asian Asset-Management Market

Report

Morningstar

Michael Makdad

EUR 100.00 For Business Accounts Only

MUFG' Price for First State Seems Reasonable Given Exposure to Growing Asian Asset-Management Market

Mitsubishi UFJ Financial Group, or MUFG, reached a deal to buy Commonwealth Bank of Australia's international asset-management business Colonial First State Global Asset Management, or CFSGAM, which operates outside Australia as First State Investments. We estimate CFSGAM will add around 2% to MUFG's total profit starting in the year ending March 2020. We view it as incrementally positive news for MUFG, and reiterate our no-moat rating and JPY 797 fair value estimate, 18% above MUFG's current sh...

31/10/2018 14 EN

Underlying

Mitsubishi Tokyo Financial Group ADS

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US6068221042 Mexican Stock Exchange Japan

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Michael Makdad

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MUFG' Price for First State Seems Reasonable Given Exposure to Growing Asian Asset-Management Market

Vermilion Compass: Weekly Equity Strategy

Morningstar | 2019 DFAST Results Better Than Last Year, and We Expect No Capital Return Surprises Next Week

2019 DFAST Results Better Than Last Year, and We Expect No Capital Return Surprises Next Week

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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