Mitsubishi UFJ Financial Group, Japan's largest bank by assets, reported a 48% jump in first-quarter net profit to ¥809.4 billion, driven by higher net interest income from higher yen interest rates and growth in loan balances, as well as stronger fee income. The Tokyo-based group published the results for the three months ended 30 June on 3 August, after Mizuho and Sumitomo Mitsui Financial Group had reported their first-quarter results in late July.
The figure compares with ¥546 billion in the same period a year earlier. MUFG left its full-year net profit target for the fiscal year ending March 2027 unchanged at ¥2.7 trillion, the level it set on 15 May 2026.
HIGHER RATES LIFT LENDING INCOME
MUFG cited growth in loan balances and fee income and the benefit of higher yen interest rates.
Equity in earnings of equity-method investees rose to ¥261.5 billion from ¥157.9 billion, which MUFG attributed largely to a strong performance at Morgan Stanley.
Net interest income rose to ¥882.3 billion from ¥690.7 billion a year earlier, while net operating profits rose by ¥266.0 billion to ¥809.0 billion.
FULL-YEAR TARGET UNCHANGED
MUFG said first-quarter net income represented 30% of the ¥2.7 trillion full-year target. Total credit costs rose to ¥72.0 billion from ¥46.9 billion, which MUFG attributed to the absence of a large reversal of loan-loss provisions booked a year earlier.
The quarterly figures were published alongside supporting materials on MUFG's investor relations website, including a financial highlights presentation.
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