|Bid||4.3100 x 4000|
|Ask||4.3700 x 21500|
|Day's range||4.3200 - 4.3700|
|52-week range||3.3200 - 5.5400|
|Beta (5Y monthly)||1.50|
|PE ratio (TTM)||5.05|
|Forward dividend & yield||0.23 (5.50%)|
|Ex-dividend date||27 Sep 2019|
|1y target est||5.83|
Let's see if Mitsubishi UFJ Financial Group, Inc. (MUFG) stock is a good choice for value-oriented investors right now, or if investors subscribing to this methodology should look elsewhere for top picks.
Mitsubishi UFJ (MUFG) reports disappointing earnings for fiscal 2019 (Mar 31, 2020), mainly affected by net extraordinary losses which resulted from one-time amortization of goodwill.
Full-year profit forecasts from Japan's biggest banks on Friday fell short of analysts' estimates as the lenders predicted a surge in credit-related costs in the wake of the coronavirus outbreak. Japanese banks have already been struggling with ultra-low interest rates for years and said credit-related costs in the current year would reach levels not seen since the global financial crisis. Mitsubishi UFJ Financial Group Inc (MUFG), the country's largest lender by assets and owner of a 24% stake in Wall Street investment bank Morgan Stanley, said it expects 550 billion yen ($5.14 billion) in net income for the year ending in March 2021, compared with an average 762.6 billion forecast in a Refinitiv poll of analysts.
Japanese banks are asking retail customers to refrain from non-urgent visits as bank branches continue to be busy despite calls for social distancing and a state of emergency to contain the coronavirus outbreak, the banking lobby head said. Japan does not have a mandatory lockdown, but has declared a state of emergency, urging people to cut person-to-person contacts by 70% to 80% and work from home as much as possible. While the total visitor numbers of three major banks - Mitsubishi UFJ Financial Group Inc <8306.T>, Sumitomo Mitsui Financial Group Inc <8316.T> and Mizuho Financial Group Inc <8411.T> - declined in April by 10% to 15% each, branches in some residential areas have even seen an uptick.
Japanese retail customers' love affair with cash - and some extra free time while working at home - is keeping bank branches busy despite government calls for people to reduce contacts during the state of emergency to contain a coronavirus outbreak. Japan does not have a mandatory lockdown, but Prime Minister Shinzo Abe declared a state of emergency for seven prefectures including Tokyo on April 7, urging people to cut person-to-person contacts by 70% to 80% and work at home as much as possible. MUFG figures include ATMs, while SMFG numbers do not.
The banking arm of Mitsubishi UFJ Financial Group Inc is planning to reduce staffing levels by another 2,000 people by fiscal 2023, the Yomiuri daily reported on Sunday, highlighting its struggle to maintain profits amid ultra-low interest rates. Japan's largest lender by assets had announced in 2017 that it expected 6,000 job losses through attrition by fiscal 2023. "It's true the number of staff reductions has been progressing more than the initial plan," said MUFG spokeswoman Kana Nagamitsu, adding the report was not what the bank has announced.
MUFG is pleased to announce today the appointment of two new members to its Global Advisory Board: Ms. Anne Le Lorier, former First Deputy Governor at Banque de France, and Ms. Emi Osono, professor at Hitotsubashi University Business School’s School of International Corporate Strategy.
Mitsubishi UFJ Financial Group (MUFG) <8306.T> sold off its $85 million loan to Glencore's Wiggins Island Coal Export Terminal (WICET) in Australia to a hedge fund on Wednesday at about 52 cents on the dollar, two sources said. The costly decision at a time of extreme market volatility extinguishes MUFG's exposure to the coal-related asset ahead of the bank's financial year-end on March 31, the two sources and a third person told Reuters. A spokesman for Mitsubishi UFJ declined to comment.
SINGAPORE/TOKYO (Reuters) - Southeast Asia's Grab said Japan's Mitsubishi UFJ Financial Group Inc (MUFG) <8306.T> and IT services firm TIS Inc <3626.T> have agreed to invest a combined $856 million in the ride-hailing firm, as it seeks to expand aggressively into financial services. MUFG, Japan's biggest bank by assets, has agreed to invest $706 million, the companies said in statements on Tuesday. "MUFG's investment into Grab is a vote of confidence in our super app strategy and our ability to build a long-term, sustainable business," Ming Maa, Grab's president, said in a statement on Tuesday.
Japan's MUFG <8306.T> and Mizuho <8411.T> have hired a total of nearly 100 staff in London in the last 6 months, bolstering their trading and investment banking teams despite industry concerns over Brexit's impact on financial services in Britain. Mizuho has hired more than 25 senior bankers and traders, while MUFG has hired seven senior investment bankers, an aviation finance team from Germany's DVB Bank and dozens of back office risk and compliance staff, information from sources and internal bank memos seen by Reuters show.
Mitsubishi UFJ (MUFG) reports disappointing earnings for the first nine months of fiscal 2019 (Dec 31, 2019), mainly affected by net extraordinary losses which resulted from one-time amortization of goodwill.
Mitsubishi UFJ Financial Group Inc (MUFG) <8306.T>, Japan's largest lender by assets, reported a net loss in the third quarter, for the first time in nearly a decade, as its banking unit booked a one-off charge on an Indonesian subsidiary. MUFG's net loss came in at 25.7 billion yen ($236 million) in October-December, which compared with 221.4 billion yen net profit in the same period a year earlier, according to Reuters' calculation based on nine-month cumulative figures disclosed in a stock exchange filing. MUFG, which is in the midst of a leadership transition, said in December that its core unit MUFG Bank would book a one-off charge of about 207.4 billion yen ($1.9 billion) for the third quarter due to a drop in the share price of Bank Danamon <BDMN.JK>.
Mitsubishi UFJ Financial Group Inc (MUFG), Japan's biggest lender, said on Friday it was replacing its CEO after one year and Hironori Kamezawa, who oversees its digital strategy, would be taking the reins. Outgoing CEO Kanetsugu Mike will become the group's deputy chairman but will remain as head of the core unit, MUFG Bank. Kamezawa, 58, currently deputy president, would be the first chief executive to have not previously headed MUFG Bank, a radical break with tradition.
The banking unit of Japan's Mitsubishi UFJ Financial Group Inc (MUFG) <8306.T> on Monday said it would book a one-off charge of about 207.4 billion yen ($1.9 billion) for the quarter ended Dec. 31 due to a drop in the share price of an Indonesian subsidiary. PT Bank Danamon Indonesia Tbk <BDMN.JK>, of which MUFG Bank Ltd owns 94.1%, closed at 3,950 rupiah on Monday on the Indonesia Stock Exchange's last trading day of 2019. Under accounting rules, if Danamon's shares close below 50% of the average price MUFG paid for its stake, the Japanese bank is required to reassess the value of the holding and book a one-time charge.
Mitsubishi UFJ (MUFG) displays growth through acquisitions and remains focused on its business-upgradation plan, though rising expenses and Bank of Japan's negative interest-rate policy are concerns.
SoftBank Group Corp's talks to secure $3 billion from Japan's three biggest banks have stalled as the lenders have hit internal lending limits to the firm, two people said, complicating a $9.5 billion rescue package for WeWork. The Japanese technology conglomerate is now likely to enter the new year without the WeWork financing in place, the people said, adding the banks are also concerned about the risks involved in rescuing the U.S. office-sharing startup. Mizuho Financial Group Inc, Mitsubishi UFJ Financial Group Inc (MUFG) and Sumitomo Mitsui Financial Group Inc (SMFG) are seeking ways to provide the financing while offsetting exposure, the people said, declining to be identified because the information is not public.
Carsome, a Malaysia-based marketplace for trading used cars, has closed a new $50 million financing round to fend off its rivals and grow its business in Southeast Asian markets. The new financing round, dubbed Series C, was funded by MUFG Innovation Partners (MUIP), the corporate venture capital arm and a wholly owned subsidiary of Mitsubishi UFJ Financial Group (MUFG); Daiwa PI Partners, the private equity arm of Japan’s securities group Daiwa Securities; Endeavor Catalyst; and Ondine Capital. Existing investors, including Gobi Partners and Convergence Ventures, also participated in the round, which pushes the four-year-old startup’s total raise to date to $85 million.
Japanese Finance Minister Taro Aso said on Friday he did not believe the central bank's negative interest rate policy was behind a megabank's decision to consider implementing fees on some banking services. Aso made the comment after Mitsubishi UFJ Financial Group (MUFG) confirmed it was weighing such a move, following a report in the Nikkei business daily that the bank was considering fees on dormant accounts and other services. Years of the central bank's heavy money printing have failed to fire up inflation and crushed long-term interest rates near zero, drawing criticism from financial institutions for narrowing their margins and hurting their profits.
Mitsubishi UFJ (MUFG) reports disappointing earnings for first-half fiscal 2019 (Sep 30, 2019), mainly negatively impacted by lower net gains on equity securities and higher expenses.
Mitsubishi UFJ Financial Group's (MUFG) interim results for fiscal 2019 are expected to reflect higher expenses related to investments and fall in interest income.