TOKYO, July 31 (Reuters) - 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