The sale of MUFG Union Bank’s U.S. division resulted in another one-time loss, which is why the incident occurred.
According to calculations made by Reuters based on the bank’s half-year results, Mitsubishi UFJ reported net income of 117.41 billion yen ($841.83 million) for the months of July through September as opposed to 398.4 billion yen a year earlier.
The Japanese lender maintained its 1 trillion yen full-year profit forecast, a 12 percent decrease from the previous year’s record-breaking profits. Refinitiv polled 12 analysts, and their average expectation for full-year profits was 1.04 trillion yen.
Mitsubishi UFJ owns about 22% of Morgan Stanley.
source: cnbc.com
