Mitsubishi UFJ Financial Group is set to release its third-quarter results on Monday. Here are the key details:
Net Profit Forecast
According to analysts polled by FactSet, Mitsubishi UFJ's net profit for the three months ended December 31 is expected to more than double from the previous year, reaching 259.48 billion yen ($1.77 billion). This would compared to a net profit of Y112.08 billion in the same period last year.
The stock has experienced a 15% increase in 2024 so far, following a 4.5% drop in the October-December period. Shares closed at Y1,389.0 on Thursday.
What to Watch
Here are the important factors to keep an eye on:
Net Interest Income: In the first half, net interest income fell by 27% compared to the previous year, reaching Y1.230 trillion. This decrease can be attributed to a high base in the year-earlier period due to one-off gains. Investors will be observing for any signs of growth in the company's main source of earnings, especially considering the rise in loan-interest rates.
Fixed-Income Securities Trading: Investors will be looking out for any losses that may arise from Mitsubishi UFJ's trading of fixed-income securities. The bond markets have experienced significant volatility globally in recent months, primarily due to speculation about central-bank actions.
Profit Guidance: In November, Mitsubishi UFJ maintained its net profit guidance of Y1.300 trillion for the fiscal year ending in March. Investors will pay close attention to any potential updates or revisions that management may make to this guidance.
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