> ## Content Index
> Fetch the complete content index at: https://www.theglobalbanker.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# Japan's MUFG Reports Record Net Income of ¥1.49 Trillion for FY2023/24 on Rate Tailwinds
- URL: https://www.theglobalbanker.com/mufg-japan-record-net-income-1-49-trillion-fy2023-24-rate-tailwinds/
- Published: 2024-05-15T12:13:00.000Z
- Updated: 2026-10-02T14:45:46.000Z
- Description: Mitsubishi UFJ Financial Group posted record net income of ¥1.49 trillion for FY2023/24, up 33.5% year-on-year, and targeted a further record of ¥1.5 trillion for FY2024/25 .
- Author: TGB Editorial Team
- Tags: Banking News, Asia-Pacific, #archive

Mitsubishi UFJ Financial Group has reported record net income of ¥1.49 trillion for the fiscal year ended March 2024, a 33.5% increase on the prior year and the highest profit the Japanese megabank has achieved in its history. The result was driven by higher net operating profits, lower credit costs in the absence of the previous year's MUFG Union Bank-related losses, and higher earnings from equity-method investees including Morgan Stanley. Separately, the Bank of Japan ended its negative interest rate policy in March 2024.

#### RATE BACKDROP AND FY2024/25 TARGET

The Bank of Japan's exit from negative interest rates in March 2024 was the first policy tightening by the central bank in approximately 17 years. 

MUFG stated that it was targeting further record net income of ¥1.5 trillion in fiscal year 2024/25, citing the expectation that rate normalisation tailwinds would continue to strengthen as adjustments to lending and deposit pricing work their way through the balance sheet.