UPDATE 1-Japan's MUFG to book $890 mln charge in just-ended year; sticks to FY estimate -Nikkei [Reuters (UK)]
Mitsubishi UFJ Financial Group, Inc. (MUFG)
Company Research
Source: Reuters
Japan's MUFG to book $890 mln charge in just-ended year; sticks to FY estimate -Nikkei - Reuters 1 Min Read TOKYO (Reuters) - Japan’s MUFG will book a charge of about 100 billion yen ($893.34 million) in the year ended March after its credit card unit stopped development of a new system, but will keep its full-year profit outlook, the Nikkei reported on Monday. Mitsubishi UFJ Financial Group Inc, Japan’s biggest bank by assets, continues to forecast net profit of 950 billion yen, the newspaper said. MUFG will report earnings in middle of May. An MUFG spokesman declined to comment on the report when contacted by Reuters. The subsidiary, Mitsubishi UFJ Nicos, had been developing a new system since 2016 to merge the management of three credit card brands, with 75 billion yen invested in the project out of a planned total of 150 billion yen, the Nikkei reported. Separately, MUFG is considering scaling back its bond and equity sales and trading operations in London and New York, as part of
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MUFG
Sec Filings
- 4/17/24 - Form 6-K
- 4/9/24 - Form 424B2
- 4/9/24 - Form FWP
- MUFG's page on the SEC website