By Kosaku NariokaMitsubishi UFJ Financial Group's annual net profit rose to an all-time high, supported by higher fees and commissions and wider lending spreads. The Japanese financial company said Wednesday that net profit increased 34% to a record of 1.491 trillion yen ($9.53 billion) for the year ended March. Excluding these, underlying net interest income increased from the previous year as lending spreads widened at home and abroad. Fourth-quarter net profit was Y192.87 billion, given net profit of Y1.298 trillion in the preceding nine months, according to a Wall Street Journal calculation. For the year that began in April, Mitsubishi UFJ targets net profit of Y1.500 trillion.

Source: Wall Street Journal May 15, 2024 10:09 UTC