Mitsubishi UFJ Financial Group (MUFG) reported full-year net profit of JPY 1.862 trillion for fiscal year 2024, the twelve months ended 31 March 2025, marking the highest annual earnings in the group's history and a 25% advance from the JPY 1.491 trillion recorded in fiscal year 2023, the group announced on 15 May 2025. The record result was driven by growth in customer-segment earnings, helped by higher yen interest rates, a fall in credit costs as large overseas loan-loss provisions were reversed, and gains on sales of equity holdings, which together more than offset losses from rebalancing the group's bond portfolio.
Return on equity on the MUFG basis came in at 9.9% for fiscal 2024, a level that management confirmed achieved the target set under the group's current medium-term business plan.
IMPACT OF HIGHER YEN RATES
MUFG said higher yen interest rates, following the Bank of Japan's exit from negative rates and yield curve control, added roughly JPY 90 billion to its customer-segment net operating profit in fiscal 2024.
DIVIDEND AND FY2025 TARGET
The board raised the annual dividend to JPY 64 per share for fiscal 2024, an increase of JPY 23 from the fiscal 2023 distribution.
For fiscal year 2025, MUFG set a net profit target of JPY 2 trillion.