FX.co ★ Mitsubishi UFJ Q1 Profit Slips

Mitsubishi UFJ (MTU) reported a decline in first-quarter profit attributable to its owners on Thursday.

The Japanese bank holding and financial services company's quarterly profit attributable to owners was 555.8 billion yen, slightly down from 558.3 billion yen in the same period last year. On an adjusted basis, profits stood at 535.0 billion yen. However, net operating profit surged to 678.1 billion yen, representing a significant 34 percent increase from 556.6 billion yen.

Net interest income rose substantially to 823.1 billion yen from last year's 584.1 billion yen. Trust fees, along with net fees and commissions, also saw an increase, reaching 483.1 billion yen compared to 401.4 billion yen a year earlier. Looking forward, the company anticipates full-year revenue of 1.500 trillion yen, up from 1.490.7 trillion yen in the previous year.

Net operating profit for the full year is projected to be 1.950 trillion yen.