TOKYO, July 31 Mitsubishi UFJ Financial Group
Inc (MUFG) on Thursday said net profit fell 5.8 percent
in April-June in part due to expenses after acquiring Thailand's
Bank of Ayudhya PCL.
But the first-quarter profit fall at Japan's largest lender
by assets was significantly smaller than rivals as it booked
larger stock-related gains than a year-earlier period while
others suffered declines.
MUFG, which owns about one-fifth of Morgan Stanley,
reported net profit of 240.5 billion yen ($2.3 billion) in
April-June from 255.3 billion yen a year earlier.
MUFG left its net profit forecast for the year ending March
31 at 950 billion yen, down 3.5 percent from a year prior and
less than a 963 billion yen mean estimate of 19 analysts in a
Thomson Reuters poll.
Shares of MUFG closed 0.9 percent higher ahead of the
earnings, versus a 0.2 percent decline in the benchmark index
($1 = 102.8100 Japanese Yen)
(Reporting by Taiga Uranaka; Editing by Christopher Cushing)