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Japan's MUFG full-year net profit rises 15.5 pct, beats estimates
May 14, 2014 / 8:30 AM / 3 years ago

Japan's MUFG full-year net profit rises 15.5 pct, beats estimates

TOKYO, May 14 (Reuters) - Japan’s Mitsubishi UFJ Financial Group Inc (MUFG) beat analyst estimates by posting a rise of 15.5 percent in annual net profit, as the value of the bank’s equity holdings got a boost from a market rally spurred by government stimulus moves.

Japan’s biggest bank by assets on Wednesday said net profit reached 984.8 billion yen ($9.6 billion) for the business year ended March 31, compared with a 944.1 billion yen mean estimate of 19 analysts polled by Thomson Reuters.

For the year through March 2015, MUFG - which owns about one-fifth of Morgan Stanley - expects net profit to fall 3.5 percent to 950 billion yen, versus an estimate by analysts of 907.6 billion yen.

Shares of MUFG closed 0.7 percent lower ahead of the earnings release, versus a decline of 0.14 percent in the benchmark index.

Mizuho Financial Group Inc on Wednesday reported a record net profit for last business year and a pullback this year as the impact of a surging stock market fades. ($1=102.2250 Japanese Yen) (Reporting by Taiga Uranaka; Editing by Christopher Cushing and Clarence Fernandez)

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