MUFG Profit Beats Estimates; Maintains Record Earnings Target
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Mitsubishi UFJ Financial Group Inc. kept its forecast for another year of record profit after earnings exceeded analysts' expectations in the first quarter, thanks to a drop in credit costs.
Net income fell 1.8% from a year earlier to ¥546.1 billion ($3.7 billion) in the three months ended June 30, Japan's largest bank said Monday. That beat the ¥490.1 billion average of five analysts' estimates compiled by Bloomberg.
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