MUFG's upwardly revised full-year net profit forecast to 1.75 trillion yen; the purchase of additional shares also included

Item 1 of 2 On November 14, Mitsubishi UFJ Financial Group revised upward its consolidated net income forecast for the fiscal year ending March 2025 to 1.75 trillion yen, an increase of 17.4 %. Pictured is the MUFG logo. Photographed in Tokyo in May 2016 (2024 Reuters/Thomas Peter)

[1/2]On November 14, Mitsubishi UFJ Financial Group revised upward its consolidated net income forecast for the fiscal year ending March 2025 to 1.75 trillion yen, an increase of 17.4%. Pictured is the MUFG logo. Photographed in Tokyo in May 2016 (2024 Reuters/Thomas Peter)

[Tokyo 14mh (Reuters)]- Mitsubishi UFJ Financial Group (8306.T)opens a new tabOn the 14th, the company revised upward its consolidated net profit forecast for the fiscal year ending March 2025 to 1.75 trillion yen, an increase of 17.4%. The previous forecast was 1.5 trillion yen. Business results are strong, particularly in the consumer segment, and cross-segment sales are also picking up profits. The company also decided to raise its annual dividend forecast to 60 yen and buy back up to 300 billion yen of additional treasury stock.

According to a consensus forecast of 14 analysts compiled by IBES, the average accumulated net profit for the fiscal year ending in March 2025 was 1.662 trillion yen.

At a press conference, President Hiroki Kamezawa summed up the company by saying, “We were able to produce reasonable numbers,” noting that despite high interest rates and a weak yen, the company’s underlying earning power has increased.

Over the past month, the share price of Toyota Motor Corporation changed (7203.T)opens a new taband Honda (7267.T)opens a new tabCross section sales like. At the end of September, the balance of unsold sales agreements was 436 billion yen. The plan was to reduce the amount by 350 billion yen in the mid-term management period from 2024 to 2026, but the company has now doubled its sales target to 700 billion yen and the policy update in terms of aiming to cut the balance held in half. the current mid-term management period is displayed.

The Bank of Japan’s July policy rate hike of 70 billion yen per year had a positive effect. President Kamezawa said that if the Bank of Japan raises interest rates by 25 basis points (bp) in the future, an additional increase of about 100 billion yen per year is expected. Therefore, we will take appropriate measures. “

Regarding the targets for the last year of the medium-term management plan, the company has revised its full-year results above with the aim of achieving them in the first year, and will consider a revision to make the future medium-term management plan.

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Mizuho Financial Group (8411.T)opens a new tabOn the same day, the company revised upward its consolidated net income forecast for the fiscal year ending March 2025 to 820 billion yen, an increase of 20.7% from the previous year . The forecast takes into account the strong first half results and the impact of the Bank of Japan’s interest rate hike. The previous forecast was for a 10.4% increase to 750 billion yen.

This exceeded the average forecast of 793.3 billion yen from 10 analysts compiled by IBES.

At the same time, the company announced its first share buyback in 16 years since 2008, with a maximum of 100 billion yen. The annual dividend was also increased to 130 yen. President Masahiro Kihara indicated that the company has entered a new phase of strengthening growth investment and shareholder returns.

Mizuho FG has been working to increase its capital for a long time, but its capital level has improved due to changes in its cost structure. At the end of September 2024, the CET1 ratio (common stock, etc. Tier 1 ratio, fully active basis) was 11.2%. We will continue to flexibly consider share buybacks.

Mizuho announced FG on the 13th, Rakuten Group(4755.T)opens a new tabThe company has announced that it will acquire 14.99% of the common stock of its Rakuten Card subsidiary for 164.9 billion yen and enter into a capital and business alliance. See more . The issuance of Mizuho Rakuten cards will begin in December. President Kihara explained that the aim is to increase the number of accounts and increase the stability of investments.

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2024-11-14 08:17:00
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MUFG’s upwardly revised full-year net profit forecast to 1.75 trillion yen; the purchase of additional shares also included

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